Social Security is only part of your retirement plan
Social Security was never meant to be your sole source of income in retirement. Although for some their Social Security benefit represents most of their income in their golden years, a more comfortable retirement will include Social Security as only a portion of their income, but one which should nevertheless be carefully considered. So how does Social Security fit into one’s overall retirement plan? This Forbes article by Catherine Schnaubelt provides an excellent description of how you should view Social Security as a part, albeit an important part, of your retirement planning. Click here to read more.
(Note: In the referenced article, the paragraph on Spousal Benefits neglects to mention that the option to claim either your spousal benefit or your own benefit is restricted to those born before January 2, 1954).