After losing a position after almost 13 years at that one company and using money from savings to survive, I became eligible for Social Security. No, I do not even make the average Social Security check each month.
Luckily, I live in subsidized housing; the check I receive wouldn’t have been enough to pay my rent if it wasn’t for public housing. With Medicare, supplemental health insurance and prescription premiums, I lose over $300 a month before I get to even use my monthly check. Yes, Social Security is an earned benefit, however, the true cost of paying for retiree’s health insurance coverage is a vague notion before one actually gets on that band wagon. Plus, if I was in the public market level paying for rent, it would take the rest of my check plus more money just to have a place to live.
College education is great, but for me it was no help in getting a livable wage and a livable retirement.