The No. 1 Reason Why Social Security Recipients Are Losing Their Purchasing Power

More than 60 million Americans are currently receiving Social Security benefits, 41.2 million of whom were retired workers as of the November snapshot from the Social Security Administration . Of these retired workers, both Gallup’s survey findings and data from the SSA show that Social Security is relied upon by roughly 60% of retirees to account for at least half of their monthly income.