How much pre-retirement income does Social Security replace?
Social Security benefits are an important source of retirement income; however, for some elderly Social Security beneficiaries, 21 percent of married couples and about 45 percent of unmarried persons rely on Social Security for 90 percent or more of their income. Social Security was designed to replace around 40 percent of pre-retirement income not enough to maintain your standard of living. In Christy Bieber’s article, explains how much of your pre-retirement wages Social Security benefits will replace and how much you need to supplement them. Read Ms. Bieber’s article here…
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