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- Michelle Russell, 70, lives on her $1,768 monthly Social Security income and $23 in SNAP benefits.
- With such a tight budget, Russell has to forgo social activities and feels isolated.
- One in five Americans over 50 don’t have retirement savings, leaving many living near poverty.
Michelle Russell, 70, regularly met her closest friends for “music and margaritas.” It was their tradition: they would order salt-rimmed cocktails, share a meal, and listen to whichever local musician was playing at their favorite restaurant.
But Russell has been receiving fewer and fewer dinner invitations.
“Over this past year, because my money has gotten so tight, those friends don’t call me anymore,” she said. “They know I don’t have the money to go out, and it’s embarrassing for me when they pay for my bill.”
The Huntsville, Alabama resident lives on her $1,768 monthly Social Security checks , according to documents reviewed by Business Insider. Russell doesn’t have any savings and sometimes has to buy groceries and gas with her credit cards. Rent for her small apartment takes up more than half of her monthly income.