Millions of seniors rely on Social Security to cover their expenses in the absence of other income. And it's fair to assume that many future retirees will become similarly dependent on Social Security once their careers wrap up.

It's easy to argue that retiring on Social Security alone isn't a good idea. Those benefits will only replace about 40% of an average wage earner's pre-retirement income, and most seniors need roughly twice that much money to cover their bills and live comfortably.

Image source: Getty Images.

Continue reading

Source Fool.com