I’m a Retired Boomer: 5 Expenses I Use My Social Security Benefits For

Social Security payments to retirees are known as benefits, which is exactly the right word for them. Not everyone is entitled to Social Security, but those who retire from the workforce often have government funds added to their bank accounts on a monthly basis, money they have earned over the course of their career to now enjoy in a post-work setting.

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Baby boom retirees — former workers in the generation who were born between 1946 -1964 and are currently between the ages of 60 and 78 — are very familiar with receiving Social Security benefits. While Social Security can, by no means, cover all the cost of living expenses for retirees — baby boomers or not, there are certain things that retirees rely on their benefits to pay for.

Here are five expenses that retired baby boomers use their Social Security benefits for:

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Transportation

Getting around town is never cheap, but luckily, Social Security payments can help retirees put a dent in their transportation budget.

A retired baby boomer in the St. Louis Metropolitan Area who wished only to be identified by the initials RSM, shared with GOBankingRates that they use their benefits each month to help pay down their auto loan.

In fact, outside of mortgage and credit cards, auto loans are one of the debts retired boomers believe you should definitely pay off before retirement.

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Food and Home Products

Social Security benefits were not necessarily designed to aid in helping retirees make big purchases, but rather everyday living expenses, such as the ones spent at the grocery store.

RSM shared that they count on their Social Security to pay for food, personal hygiene supplies-including toothpaste and deodorant-and household items, such as cleaning, paper, and trash products.

Sharon Hudnall, a retiree in Southern California, added that she uses her benefits for “normal groceries, including cat food-nothing fancy.” When it comes to any expensive brands or stores, Hudnall said “Forget about it!”

Utilities and Communications

Electricity, phone, and internet services are things that RSM counts on Social Security benefits to cover. Living in the modern world, it’s important for retirees to stay connected to their loved ones, so knowing that wireless bills and cell phone plans can be covered using monthly benefits is a big relief.

Housing

Things like the mortgage, real estate tax, and mandatory HOA fees are all things that RSM pays using Social Security benefits. In fact, RSM shared that housing “…currently totals 37% of my monthly NET Social Security.”

“Because I live in a condominium, the HOA fees cover water, sewer, trash, snow removal, and yard maintenance,” RSM went on to describe. “The cost of those services continue to increase so the HOA fee increases each year.”

Hudnall owns her home, but recognizes that Social Security benefits have been able to help largely for property taxes, which Hudnall said are “going up.” On top of that, “out of control home insurance” prices and “neverending housing repairs” are what take a big chunk out of Hudnall’s Social Security benefits.

The State of Missouri enacted a real estate tax freeze for seniors beginning in 2025 , RSM shared.

“This should help curb further tax increases for my home but I have no idea how this will work,” RSM continued. “Unfortunately, St. Louis County’s implementation of the application process is woefully behind other major municipalities in the state.”

Healthcare

As we age, healthcare and the cost of it become more of a priority. Luckily, lots of retired baby boomers can count on Social Security to help fill in the gaps in their medical costs.

For RSM, this is any medical expense that is not covered by Medicare.These include prescription copays, over-the-counter medications, dental care, and acupuncture therapy for arthritis. RSM noted that “[a]cupuncture may be an optional expense for many.”

“For me, it is essential because it enables me to walk with a normal gate so I am more steady on my feet,” RSM said. “At this time it eliminates the need for surgery to replace a joint.”

Some medical expenses, however, Hudnall cannot count on Social Security to take care of, particularly when it comes to her furry family members.

“Unexpected health crises, especially those affecting my pets,” commented Hudnall on what her benefits are not able to pay for, which for Hudnall, typically amounts to  thousands of dollars there.

“If [my pets] have savings accounts, they never share them with me,” joked Hudnall. “Also, Social Security will never cover the cost of a vacation. Or a pet sitter.”

This article originally appeared on GOBankingRates.com : I’m a Retired Boomer: 5 Expenses I Use My Social Security Benefits For