Retirement Needs More Than Social Security Alone
Nearly half of older workers expect Social Security to be their main retirement income, but experts say it isn’t designed to be enough, replacing only about 40% of preretirement earnings. Financial planners urge saving and diversifying with investments, pensions, and other income. As people age, reliance on Social Security grows, but many retirees still report financial comfort, while lower-income Americans depend more on Social Security.