Retirees face significant financial challenges, such as living on fixed incomes and managing medical expenses, which often force them to continue working. Suze Orman advises retirees to cut discretionary expenses like dining out to stay on budget. Programs like Save More Tomorrow (SMT) have improved retirement savings for many Americans, though financial instability and medical debt remain prevalent among older adults. Cases like Mary and Emma Echols highlight the struggles retirees face, such as dealing with severe health issues and insufficient Social Security benefits. The complexities of disability benefits further complicate financial planning for those near or past retirement age.