65% of Near-Retirees Fear They Won't Get Social Security Benefits at All

Your 50s are the time to really start taking retirement seriously. After all, at this stage of life, that milestone may be less than a decade away.

One of the things you'll need to do to prepare for retirement is figure out what income sources you'll have at your disposal, and how much money they'll actually provide you with. That, in turn, will help you determine what city to retire to, whether to downsize your home in retirement, and what sort of lifestyle you'll be able to maintain. And of those income sources, Social Security might be a big one. After all, if you've paid into the program throughout your career, it makes sense that you'd now be looking to enjoy the benefits you're entitled to.

But many near-retirees fear that Social Security won't, in fact, be such a viable income source during their senior years. In fact, 65% of Americans in their 50s are worried about Social Security being dried up by the time they retire, according to the SimplyWise September 2020 Retirement Confidence Index.

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Source Fool.com