Every senior should be able to rely on Social Security. However, this doesn’t mean you should count on living off just Social Security alone.
While this program should be able to pay retirees back in full, it was never designed to be a complete retirement solution. It should be supplemented by other sources of income like pensions, IRAs, and more.
As this expert said, “it’s one leg of the stool.” That said, if this program is paying out what it should, it’s less that seniors have to worry about. Even if the program is only meant to cover about 40 percent of retirement needs, it’s possible for savvy seniors to make this money go even further. With the right approach, you can use it to cover half or even more of your retirement costs.
What do you think about living off just Social Security? Is it possible? Should it be easier? Share your thoughts.
