Half of Social Security recipients say it’s their main source of income. 3 ways to stretch it during Trump's presidency Clay Halton Mon, November 9, 2026 at 11:45 AM EST 5 min read GC=F +0.97% Photo by Kevin Dietsch / Getty Images Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below.
Many Americans rely heavily on Social Security benefits to get by in retirement. For some, their monthly check covers much of their everyday spending.
Half of Social Security retirement benefit recipients aged 50 and older say it is their main source of income, according to an AARP survey conducted in August 2026 (1).
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Recent tax changes could offer some relief. Under the law President Trump signed in 2025, eligible adults aged 65 and older can claim an additional deduction of up to $6,000 per person for tax years 2025 through 2028 (2), subject to income limits. However, the deduction does not eliminate federal taxes on Social Security benefits for everyone.
Whatever your tax situation, reviewing your expenses and making use of available discounts and resources could help your monthly income go further.
Here are three money moves to consider if you're looking to manage healthcare costs, stretch your retirement budget and keep closer track of your finances.
Even with Medicare, retired Americans can expect to spend money on healthcare throughout retirement. Premiums, deductibles and other out-of-pocket costs can take a meaningful bite out of that monthly Social Security check.
For 2026, the standard Medicare Part B premium is $202.90 a month and the annual deductible is $283 (3), according to the Centers for Medicare & Medicaid Services. Your total healthcare expenses will depend on your coverage and the care you need.
That makes reviewing your coverage an important part of managing your retirement budget. Compare more than monthly premiums: Check prescription costs, deductibles and whether your preferred doctors and pharmacies participate.
Medicare health and drug plans can change their costs, coverage and networks each year. Open enrollment runs from October 15 through December 7 (4), giving beneficiaries an opportunity to review their options for the following year.
But searching through different plans and understanding what each covers can feel overwhelming.
HealthCare.com makes it easier to shop for coverage by connecting you with Medicare plan options available in your area. More than 5 million customers have used HealthCare.com to help find health insurance coverage.
Simply enter your ZIP code to explore available options. If you need help comparing coverage and prices, you can speak with a licensed insurance agent who can answer your questions and help you find a plan that fits your needs and budget.
Once you've chosen your coverage, HealthCare.com lets you enroll the way you want — online or over the phone, so you can complete the process however you prefer.
As you get closer to retirement, every dollar starts to matter more. Rising healthcare costs, uncertain markets and fixed incomes can make it harder to stretch your savings — especially if you're trying to plan for decades ahead.
You might want to consider joining senior-focused organizations like AARP for discounts on almost everything — from prescriptions and dental plans to travel, entertainment and insurance.
As one of the most trusted organizations for older Americans, AARP not only offers money-saving perks, but they can also help you make informed financial and health decisions.
AARP members get access to guides that can help you make the most of Social Security, choose the right Medicare plan and uncover other government benefits — potentially saving you thousands.
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If you rely on Social Security to cover everyday expenses, knowing where your money goes can help you make the most of each payment.
Start by comparing your monthly income with essential expenses such as housing, groceries, utilities and healthcare. Then review recurring charges for services you no longer use or subscriptions you may have forgotten about.
You can do this by reviewing your statements and keeping a simple budget. Having your financial information in one place can also make it easier to spot changes and decide where to adjust your spending.
You can also let Rocket Money work behind the scenes to keep your finances on track.
With the app's premium Net Worth feature, you can link all your accounts — banking, investments, retirement, property, vehicles and even manually added items like jewelry — and it shows your assets versus liabilities in real time, no spreadsheets required.
With free tools like subscription tracking, bill reminders, credit scores and budgeting basics, plus premium features such as automated savings and customizable dashboards, Rocket Money makes it easier to see the big financial picture, stay on top of your investments and keep you focused on building your wealth.
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AARP (1); Internal Revenue Service (2); Centers for Medicare & Medicaid Services (3), (4)
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
