Will Social Security Cover Even Half Your Expenses in Retirement? Here's the Truth.
Getting an idea of how far your checks will go is easier than you might think.
Overview
Social Security was supposed to be one part of the "three-legged stool" of retirement planning, alongside personal savings and a pension. But as pensions have become rarer and living costs have risen faster than income, it's become the entire retirement plan for some Americans.
While the idea of monthly benefits for life is reassuring, many still worry about how much they'll have to slash expenses in retirement: half? More than half? The truth is, it depends a lot on the household. But here's what we know about how the average Social Security benefit stacks up to the average senior's expenses.
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Details
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.