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Stock impact report

4 Signs Your Retirement Plan Is Too Reliant on Social Security [Yahoo! Finance]

Prudential Financial, Inc. (PRU) 
Last prudential financial, inc. earnings: 2/4 04:18 pm Check Earnings Report
US:NYSE Investor Relations: investor.prudential.com
Company Research Source: Yahoo! Finance
heavily reliant on the program . Ideally, Social Security will replace no more than 40% of your past earnings. In reality, 37% of men and 42% of women 65 and older receive at least half of their retirement income from the program, according to data from the Social Security Administration. Even more worrying is that 12% of men and 15% of women rely on Social Security for 90% or more of their post-retirement income. That's a tough prospect, considering that the average retirement benefit is only $1,872.09 a month as of August 2024, according to the SSA. The main reason so many people depend heavily on Social Security is they haven't built up enough retirement savings . An AARP survey released earlier this year found that 20% of adults ages 50 and older have no retirement savings, and more than half (61%) are worried they won't have enough money to support them in retirement. You Don't Have Enough Money Saved Up The most important part of any retirement plan is making sure you're Show less Read more
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