The maximum Social Security benefit you can collect in 2024 is $4,873. And if that's the benefit you're in line for, you may be able to live quite comfortably on Social Security alone, even though retirees are commonly advised not to do that.

Now to be fair, if you're in line for Social Security's maximum monthly benefit, it means you were a pretty high earner during your career. As such, you may be used to a certain lifestyle you don't want to compromise on in retirement, which could make an income of $4,873 a month somewhat inadequate for you.

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Source Fool.com