3 Reasons I Absolutely Refuse to Count on Social Security Alone in Retirement, and What I'll Be Doing Instead
About 1 in 10 retirees rely upon Social Security for at least 90% of their income, with the average monthly benefit as of June 2024 being $1,918 per month. That means those who are wholly dependent on Social Security are surviving on little more than $23,000 per year. Couples may get more, but for many, their checks still aren't enough.
Though I expect to receive some benefits when I retire in a few decades, I see Social Security as just a supplement to my other income sources. Here are three reasons why I'm choosing this path instead of living solely off Social Security in retirement.
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Source Fool.com
