Retirement Social Security

74-Year-Old Struggling on Just Social Security Asks For Help - Here's What Experts Say

Financial advisors weigh in on this retiree's situation.

By Sarah Sharkey , Edited by Amanda Machado

Updated March 26, 2026

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Although many hope to build up at least some retirement savings they can lean on, many American seniors rely heavily on Social Security income to cover their retirement costs. But getting by in retirement can be tough, especially if you're trying to make it on Social Security payments alone.

With limited resources, it's essential to make smart money moves to get by in retirement. The expert advice you'll read in this story applies to a specific case but can easily be applied by anyone living or planning retirement to improve their financial situation.

Below, we explore one retiree's situation and get expert advice on how they could move forward.

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Barely getting by

One concerned child turned to Reddit for help on how to ease their dad's financial situation. Redditor SK_RVA explains his father is a 74-year-old retiree who receives around $1,250 in Social Security income. But even with a modest lifestyle, including a $830 one-bedroom apartment and other bills, he's short around $500 each month.

Although the adult child has taken over the retiree's phone bill and helped cancel some subscriptions, it's still tough to make ends meet. Even after switching to more affordable medications, the retiree still can't make his budget work on Social Security income alone.

We spoke to financial advisors to get their honest advice on what they would recommend to someone in this situation. Here's what they had to say:

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Apply for any government benefits you qualify for

If you're struggling to make ends meet in retirement, there are programs you can turn to for help. Make it a priority to apply to any programs that could help you make your budget work.

"This isn't charity. These are programs funded by the taxes you paid your entire working life. Start with SNAP (food stamps), which alone could cover $100 to $300 a month in groceries depending on the state," says Andrew Latham, CFP, author of Be Your Own Financial Planner and Director of Content at SuperMoney.com.

"Then look into LIHEAP for utility bills, Medicaid or Medicare Savings Programs to reduce healthcare costs, and the Extra Help program if you're paying out of pocket for prescriptions." If you aren't sure where to get started, consider checking out BenefitsCheckUp.org. It can help you find out what programs you might qualify for.

Call the Social Security Administration

Since this retiree is mainly relying on Social Security income, it's critical to confirm that he's making the most of this income stream.

"If you've been collecting before full retirement age or haven't checked his benefit in a while, there may be room to increase your check," says Latham, "Delayed filing credits, spousal benefits, or even a correction to his earnings record. I've seen people leave hundreds on the table simply because they never asked."

It's definitely worth checking out the possibility of earning more through Social Security. It never hurts to check.

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Re-evaluate your housing costs

Spending more than 40% of your income on rent isn't sustainable. It's time to get creative to bring these costs down.

"HUD's subsidized housing programs and state rent assistance are worth exploring," says Latham.

Beyond assistance programs, consider the possibility of getting a roommate or relocating to a more affordable part of town to bring down costs.

Pick up some extra income

Of course, grinding it out at a side hustle in your 70s likely isn't a realistic option. But earning something small and sustainable from some part-time work could make a major difference to your monthly budget.

"Part-time work that fits your life, such as a few hours at a hardware store, tutoring, helping a local business with bookkeeping, can close a big chunk of that gap without burning you out," says Latham, "Even $150 a week changes the entire picture."

Cut down on grocery spending

Grocery costs can add up quickly. But it's often possible to lower grocery costs without sacrificing nutrition.

"Food banks and senior meal programs exist for exactly this situation, and there's no shame in using them while you get your finances in order," says Latham, "Combined with SNAP, you could realistically cut your food spending in half."

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Bottom line

No one wants to scrape by in retirement. But since it often takes decades of saving to amass a solid nest egg to support a carefree retirement, many seniors find themselves financially unprepared. As you head into retirement, avoid some common money mistakes that could help you make the most of the savings you do have.

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