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Retirees on Social Security Just Got Some Excellent News
Getting most or all of your income from Social Security in retirement isn't ideal. And the reason is that you're looking at a pretty significant pay cut if you don't have other income at your disposal.If you earn an average salary, you can expect Social Security to take the place of about 40% of it in retirement. But most seniors need far more replacement income than that to be able to comfortably manage their bills.Image source: Getty Images.Continue reading
Getting most or all of your income from Social Security in retirement isn't ideal. And the reason is that you're looking at a pretty significant pay cut if you don't have other income at your disposal.
If you earn an average salary, you can expect Social Security to take the place of about 40% of it in retirement. But most seniors need far more replacement income than that to be able to comfortably manage their bills.
Image source: Getty Images.
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