Many Americans depend solely on Social Security for retirement income, which can lead to financial hardships. With the average monthly benefit around $1,976, this amount often falls short for a comfortable lifestyle. To enhance financial security during retirement, individuals should consider diversifying their portfolios with investments such as municipal bonds, which are stable and offer tax-free income; dividend stocks, which provide regular income; and certificates of deposit. Consulting a financial advisor is also recommended for developing a comprehensive retirement plan.
If you want to retire comfortably, relying solely on Social Security benefits is not sufficient, emphasizing the need for additional income sources.
Investments like municipal bonds, dividend stocks, and certificates of deposit can significantly supplement retirement income, promoting financial stability.
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