Financial security. What do these words mean to you? To many Americans, financial security means not having to worry about covering their utility bills this month. To some, it means not having to worry about keeping food on the table. To others, it means not worrying about covering their mortgages and property taxes and being able to live in their homes as long as they choose. Spanning all these definitions lies the idea of not having to worry.
Many retirees rely upon Social Security for financial security; however, often that is not enough. In New Jersey alone, more than 22% of eligible beneficiaries rely upon Social Security for 90% or more of their income. Having paid into the program throughout their careers, these residents now depend almost solely on Social Security to ease their financial worries.
Budget disputes in Congress put Social Security at risk of cuts that could place a greater strain on seniors. We implore Congress to keep financial security in mind. In today’s tough economic times, can our seniors afford any more worries?
Chief Legislative Advocate AARP New Jersey
Monroe Township, NJ