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View submission: Living with no Retirement money
It's not. That report was done by the research arm of the defined benefit pension industry. So they have an agenda. Their data came from the "Census Bureau’s Survey of Income and Program Participation."
A previous study performed by the Social Security Admin (using the same data) showed literally half that number, 19.6% relied on Social Security for at least 90% of their income. So half the NIRS number, and a lower bar.
Additionally, another study from two Census Bureau economists, analyzed retirement incomes **using IRS tax records**, which is going to be most accurate. That study found **only 12%** of Americans aged 65+ received 90% or more of their income from Social Security.
It turn out the NIRS study **didn't** include income from interest and dividends outside of retirement accounts (such as IRAs or 401ks).
There's nothing here!