In the early 1980’s, there was a lot of talk about social security running out of money. I was very concerned about our retirement. Although I was only 38 years old, I just couldn’t imagine living comfortably on social security income. Here’s why.
“The average monthly Social Security retirement benefit for January 2016 was $1341.” Could you live on that? Furthermore… “As estimated, 165 million workers are covered under Social Security ...
*51% of the workforce has no private pension coverage.
*34% of the workforce has no savings set aside specifically for retirement.”
(www.ssa.gov)