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According to a recent survey by The Senior Citizens League, a non-partisan group of older adults, for many older Americans, record high prices threaten their financial security just as they are approaching or living in retirement.

The survey was conducted online in the first quarter and included 3,056 participants, 96% of whom rely on Social Security as a source of income.

Elderly people spend savings, borrow

“When people experience this type of inflation, those with less savings tend to be forced to take on more debt to pay their bills for the month,” said Mary Johnson, social security and Medicare policy analyst at The Senior. Citizens League.

Social Security and Medicare changes can help

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