Many retirees rely on Social Security to pay their bills. To retire comfortably, it pays to remember these three rules:
- Social Security’s sole purpose is not to sustain retirees’ income.
Benefits only replace about 40 percent of an average earner’s income, and calculations come from the 35 highest earning years. - In addition, waiting until full retirement age guarantees collecting what is entitled.
- For those who never worked or who had low earnings, there are still opportunities to receive Social Security benefits.
Learn more about Social Security to maximize benefits in retirement.