Baby boomers living on $1,000 a month in Social Security share their retirement experience: 'I never imagined being in this position.'
For many boomers without retirement savings, Social Security isn't enough to cover daily expenses.
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- More than half of baby boomers have less than $250,000 in assets, per Retirement Income Institute.
- With limited savings, older adults are dependent on just over $1,000 monthly in Social Security.
- For many, Social Security income is insufficient to cover groceries, healthcare, and bills.
Virginia Hambrick, 66, is retired but worried she will have to return to work.
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