Opinion: Retirees in the U.S. do not live on ‘fixed incomes’
As inflation has gained traction in the last year, commentators constantly remark about how it is particularly hard on retirees who live on a “fixed income.”
Please stop. Retirees do not live on fixed incomes. The 60% of households in the lower portion of the income distribution receive the bulk of their retirement income from Social Security (see Table 1). Social Security adjusts benefits each year to reflect changes in the Consumer Price Index.