69% of Retirees Are Making This Terrible Social Security Mistake

The scary thing about retirement is having to move over to a fixed income while your expenses have the potential to rise. It's for this reason that we all need a healthy level of retirement income -- enough to pay our bills and, ideally, have enough left over to enjoy post-work life. But a recent Transamerica survey indicates that many seniors are putting their retirement at risk for one big reason: They're relying too heavily on Social Security.

Specifically, 69% of retirees say that Social Security will be their primary income source throughout their golden years. But that's a mistake they might sorely regret.

Many seniors look to Social Security as a reliable income source. But those benefits may be reduced in the not-so-distant future.

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Source Fool.com