Relying on Social Security Benefits

Social Security was designed to provide an income stream to retired workers aged 65 and over. Despite being a financial foundation in retirement, you shouldn’t rely solely on your Social Security benefits. Unfortunately, for many Americans, Social Security represents around 40% of their income during retirement, according to the Social Security Administration

Apart from the fact that is was never meant to be the only source of income, relying on Social Security comes with numerous hidden costs and risks.