The article highlights that the average Social Security benefit for retired workers is $2,000 monthly, which can contribute to retirement income but is often insufficient for a comfortable lifestyle. Many retired individuals rely entirely on Social Security, leading to potential financial struggles. It emphasizes the importance of consistent retirement savings and suggests using tools to assess one's retirement readiness and find a financial advisor. The piece also notes that while Social Security can supplement other income streams, it's crucial not to depend on it alone, as many expenses do not significantly decrease in retirement.
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If you don't manage to save much for retirement, you may end up in a situation where you're basically living on Social Security. And that could leave you struggling financially.
Social Security doesn't just pay benefits to retired Americans. It pays other types of benefits as well, like disability.
But if you don't manage to save much for retirement, you may end up in a situation where you're basically living on Social Security.
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