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Social Security is an important retirement income source for many people. It was never intended to be the only source. For the average retiree, it represents about 40 percent of their income. For higher income retirees, it may only be 20 percent, which is still significant. It is one of the few retirement assets that has a cost-of-living adjustment. This is very important since most people underestimate the effects of inflation and taxes on retirement income…Read More
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