No, people are not able to sufficiently support themselves on social security payments alone, but it is important to remember that social security was never meant to be someone's sole source of support. People were supposed to save money on their own while they were working. Social security is not really enough to live on without responsible savings.
No,people are not able to support themselves on social security payments alone.Social Security barely offers enough money for food and housing let alone other necessities like transportation and medical bills.What people need to be able to do is work at least part time so they can have extra money if they need it.
Most people, unless they are getting the largest social security payment every month and have their house paid off, are not going to be living very well on just a social security check in the mail. There has to be some annuity or IRA or savings beyond just this to survive.
People that receive social security payments can't support themselves on those payments alone. In reality, social security hasn't been enough for self-sufficiency in many years. The government needs to change the formula for payments or force people to gain income from other sources. Otherwise, the system will soon have problems.
I do not believe people are able to sufficiently support themselves on social security payments alone. Each year the government raises these payments against inflation, however the inflation rates that have been published over the last ten years, in no way account for the actually inflation that citizens of America are experiencing. In other words, the inflation rates used are a lie. Therefore, the amount of payments, as far as real buying power, has decreased dramatically. People who attempt to live off of social security payments alone are living far under the poverty line, but they would probably also qualify for other assistance programs that may cover part of their housing expenses and food costs.