Retired and Receiving SNAP Benefits? Here's How You Can Make Up for Cuts

Millions of Americans retire with fewer resources than expected. A 2024 analysis of the University of Michigan Health and Retirement Study (by UMass Boston and the National Council on Aging) concluded that nearly 50% of adults 60 and older have an average income below the standard amount required to cover basic needs.That statistic explains why 4.8 million older adults receive help from the Supplemental Nutrition Assistance Program (SNAP), despite spending decades paying Social Security taxes. If you're one of the 4.8 million, you may have heard that President Donald Trump's "big, beautiful bill" aimed to cut $186 billion from SNAP by 2035, with the first cuts beginning after the 2026 midterm election.Whether your benefits will be impacted depends, in part, on the state in which you live. The new law ramps up the administrative costs that states must cover, and for the first time ever, it requires states to pay a portion of the costs of food benefits. If you live in a wealthier state, your benefits may be safe. However, if you live in one of the poorer states or a state with a high number of SNAP recipients, you may receive less in benefits.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool