Relying on Social Security alone is a horribly bad idea
Social Security is meant to replace approximately 40 percent of the average wage-earner’s pre-retirement income. However, it is estimated that 12 percent of Americans aged 65 and over have less than $1,000 in a retirement savings plan which means they will most likely be reliant on Social Security to cover their living expenses. In Maurie Backman’s article, she points out the three reason why you cannot retire on Social Security alone. Read her article here…
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