Social Security Alone Isn’t Enough Without Retirement Savings
It’s a sad but true fact– households that get the majority of their income from Social Security are much more likely to be poor than those who have ample additional income to supplement it. That is according to a recent study from the National Institute on Retirement Security. Christy Bieber looks at the striking differences between the percentages of income that Social Security benefits account for when comparing high- and low-income households. The article concludes with ways to supplement your Social Security with other income sources to avoid being poor. Full piece here.
The AMAC Foundation offers a free-to-the-public advisory service to all 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.