The Biggest Reason You Can't Retire Only on Social Security (It's Not Benefit Cuts)
There are a good number of retired Americans today who effectively live on Social Security alone. And many people with savings still get the overwhelming majority of their retirement income from the monthly checks Social Security sends them.But if that's your plan for retirement, I'm here to tell you that it's not a great one. There's a big reason you can't afford to retire on only Social Security -- and it may not be the reason you think.Image source: Getty Images.Continue reading
There are a good number of retired Americans today who effectively live on Social Security alone. And many people with savings still get the overwhelming majority of their retirement income from the monthly checks Social Security sends them.
But if that's your plan for retirement, I'm here to tell you that it's not a great one. There's a big reason you can't afford to retire on only Social Security -- and it may not be the reason you think.
Image source: Getty Images.
