Social Security has played a crucial role in supporting the elderly and disabled since the program's creation in 1935. However, it's usually not enough to give recipients a comfortable retirement; many are struggling to make ends meet in an economy that's currently seeing soaring living costs.

Giving your children a head start on financial security is one of the best things you can do for them. Here is why parents should consider helping their kids start saving for retirement, and an excellent tool for doing it.

According to the Social Security Administration (SSA), approximately 37% of elderly men and 42% of elderly women rely on Social Security benefits for 50% or more of their income. About 12% of men and 15% of women depend on it for 90% or more of their income. In other words, Social Security is a core financial support system for many retirees in America.

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Source Fool.com