How Much of My Former Income Will Social Security Replace?
Social Security serves as a key source of income for millions of retired seniors. But if you're not yet retired, it's important to understand what to expect from your benefits.
But first, let's talk about how much income you're likely to need in retirement. There's no perfect way to estimate what life will cost you once you're no longer working, but as a general rule, you should expect to need about 70% to 80% of your former paycheck to maintain a comfortable lifestyle once your career comes to a close.
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Source Fool.com
