Counting On Social Security in Retirement? Not So Fast
Social Security can go a long way toward enjoying a more comfortable retirement, but it's possible to depend on your benefits too much.
Your benefits were only designed to replace around 40% of your pre-retirement income. In addition, the average retiree receives around $1,668 per month, or roughly $20,000 per year, according to the Social Security Administration.
There are also a couple of other reasons why Social Security may not be as reliable in the future. If you're expecting to depend on your benefits for a sizable portion of your income, it may be time to rethink your strategy.
Source Fool.com
