Many Americans face retirement woes, lacking adequate savings and relying on Social Security. McCoy said she began receiving monthly Social Security Disability checks about 10 years ago, which are currently $1,620. Despite their best savings efforts, McCoy said medical bills and a high cost of living depleted her household finances. "But to live on Social Security — which is coming very quickly for both of us — is scary." A fifth of US adults over 50 reported having no retirement savings, and Social Security often isn't enough to cover the full cost of essentials.

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Persons: Elizabeth McCoy, —, McCoy, She's, Elizabeth McCoy McCoy, Gen Zers, she's, you've Organizations: Social Security, Service, Social Locations: Indiana