Relying on Social Security
Excerpt:
MSN/Money reported recently in “More Rely on Social Security” that in 1962 social security represented 30% of people over 65′s income – in 2010 it had grown to 38%. Today more than 66% of retirees get 50% or more of their income from this source, and 35% rely on it for 90% of their income. Income from investments has declined in recent years, which now makes up only 11% of retiree income.
Comment: My calculation is that Social Security will be 31% of our aggregate retirement income.
31%? My family's calculation is that, barring an early disability, Social Security will be 0% of my family's retirement income....at least I hope DC doesn't "save" it through extreme measures!
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