Planning to Rely on Social Security in Retirement? There's a Big Problem With That.
If you're expecting Social Security to be a significant source of income in retirement, you're not alone. A whopping 88% of current retirees say they rely on their benefits, according to a 2024 poll from Gallup, with 60% of that group saying their checks are a major income source.
However, Social Security is facing some major challenges that could pose problems for retirees. The program isn't as reliable as it once was, and the situation may worsen in the coming years.
Between potential benefit cuts on the horizon and a serious loss of buying power, relying too heavily on Social Security could put your retirement at risk.
Source Fool.com
