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How Heavily Should You Rely on Social Security?
Don’t rely on it is the short answer to the question of Social Security benefits. It pays a mere 40% of pre-retirement income. From inception it was always meant as one of two or even three pillars of a successful retirement. By itself it simply allows folks to eke out a meager existence. Maurie Backman points out the average monthly benefit is just $1,557 per month. This piece addresses how to save independently of the program to have a retirement one can actually enjoy. Full article here.
AMAC’s Foundation offers a free-to-the-public advisory service to 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.