Retiring on Social Security alone could set the stage for years of financial struggles. Yet many seniors inevitably go that route and have a hard time managing their bills, as a result.

It's therefore encouraging to see that today's workers expect to be far less reliant on Social Security once they enter retirement. In a recent Schwab survey, workers said they expect their Social Security benefits to account for about 20% of their retirement income. Meanwhile, they expect 40% of their retirement income to come from savings in a 401(k).

Image source: Getty Images.

Continue reading

Source Fool.com