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The Importance of Realistically Assessing Social Security’s Role in Your Retirement Financing
The future of Social Security benefits in your retirement financial planning is increasingly in the news these days, certainly as the program’s trajectory toward insolvency picks up steam. By design, of course, the program was never intended to fully finance retirement, generally replacing only about 40% of one’s pre-retirement income. And the much talked about potential of future benefit cuts makes it possible (but hopefully not likely) that this replacement rate could fall to 30%, according to a post today by The Motley Fool’s Maurie Backman appearing on channel3000.com. So how does one look to achieve a realistic view, given the unknowns more than a decade away? Check out the content of Ms. Backman’s post here…