How Much Can You Count on Social Security in Retirement?
Social Security benefits are a major source of income for many retirees, but there are a few misconceptions about the program. Some soon-to-be retirees are worried that the program is going bankrupt and benefits will soon be a thing of the past, while other workers expect their monthly checks to cover all their expenses in retirement.
The truth is that Social Security isn't quite so black or white. Retirees can depend on their benefits during their senior years, but only to a degree. And while benefits won't be eliminated entirely, there is a chance they could be reduced.
So just how much can you rely on your monthly checks in retirement? It depends on a few factors.
Source Fool.com
