Seniors shouldn’t be too dependent on Social Security
Although the Social Security system was never intended to be a primary source of retirement income, about 34% of beneficiaries rely on it for 90% to 100% of their income after they stop working. And for about 62% of beneficiaries, Social Security makes up at least half of the money they get every month. And why is that? Well, mainly because most Americans simply aren’t saving enough for retirement, or even if they are they’re not investing those savings aggressively enough to achieve the financial comfort they’ll want later in life. In this article by Maurie Backman appearing at madison.com, the author explains the reasons Social Security is so critical to so many retirees and what they can do to reduce that dependency. Click here to read more.