How to Boost Your Retirement Income When Social Security Only Covers 40%
Most retirees rely on Social Security to cover expenses, but it might not be enough to meet your desired lifestyle. Your Social Security benefit depends on a number of factors, but the average benefit is around $1,500 per month. The maximum that can be received is around $3,900, and that requires a high-income career and waiting until age 70 to start taking payments.
If you want to afford the retirement lifestyle you've dreamed about, or if you just want to avoid worrying about healthcare expenses, you'll probably have to find some other sources of cash flow. The best strategies depend on your age and personal circumstances, but there are a handful of things you should consider to boost retirement income.
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Source Fool.com
