While surveys suggest Americans believe they need well over a million dollars to retire comfortably, the recent Yahoo Finance article “Can You Really Retire on Social Security Alone in 2026? An Honest Budget Breakdown,” by journalist Josephine Nesbit takes a more practical look at what life might realistically look like for those who rely primarily on Social Security income.
Our Chief Investment Officer and CEO, Steven Rogé, adds important clarity to the discussion by emphasizing that retirement on Social Security can work only when spending is intentionally built around the benefit itself. He outlines what a realistic monthly budget might look like for a single retiree, noting that modest housing, controlled healthcare costs, and limited discretionary spending are essential to making the math work.
Steven also highlights a key risk many retirees underestimate: debt. Carrying credit cards, car loans, or high housing costs can quickly derail an otherwise balanced budget. When Social Security is the primary income source, entering retirement debt-free is not just helpful, it’s critical.
For couples, Steven explains, the picture can be a bit more flexible. Two Social Security checks supporting one household can allow for more breathing room, including limited travel or stronger insurance coverage, as long as housing remains reasonable and spending is thoughtfully managed.
To view the full article, click here.
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R.W. Rogé & Company, Inc. is an independent, fee-only financial planning and investment management firm serving clients locally and virtually across the country, with Long Island, New York, and Beverly, Massachusetts office locations. R.W. Rogé & Company, Inc. was founded on a “client first” culture and proudly commits to acting in your best interest as a fiduciary. We have helped clients Plan, Achieve, and Live® the life they want since 1986. To learn more about how we do this, as well as our process, explore our detailed overview of services and approach.
