Here’s what it’s like to retire on almost nothing but Social Security

Many Americans reach retirement with almost no savings. No. 401(k). Little investments. There is almost no income except for the monthly Social Security check.

Nearly one in seven Social Security recipients age 65 or older rely on their benefits for nearly all of their income, according to an AARP analysis. Unable to maintain the lifestyle they had during their working years, they cut back on their already limited budgets, move to smaller homes, or rely on the kindness of relatives to get by.