3 Money Myths That Could Ruin Your Retirement
Katie Brockman advises those planning for retirement to avoid falling for these three myths: Myth #1: You’ll spend less in retirement than you’re spending now; Myth #2: It will be easier to save if you wait until you’re earning more money; Myth # 3: You can survive primarily on Social Security benefits. The last of these is so pervasive yet dead wrong. Social Security replaces only about 40 percent of pre-retirement income and was never intended for one to live on. It was designed to give someone a level of dignity to keep them out of abject poverty, not a way to fund their ‘golden years”. Read Brockman’s full piece here.
The AMAC Foundation offers a free-to-the-public advisory service to all folks ageing into–or already in–Social Security. This service provides guidance in understanding the complexities of Social Security and the myriad rules and regulations associated with the process for claiming benefits, with NSSA-Certified Social Security Advisors available via email or telephone to discuss options. Learn more about this service via the Foundation’s website.