1 in 4 Workers Plan to Rely Primarily on Social Security in Retirement. Here's What That Could Look Like.
Social Security has been a part of most people's retirement plans for decades, but it was never intended to be the only source of retirement income. Back in the day, a lot of people could rely on a pension as well and then supplement that with their personal savings. Now, pensions are much less common, and many workers struggle to save on their own, so Social Security has taken on a more prominent role in their retirement budget.
About one in four workers have said they plan to rely upon Social Security as their primary source of retirement income, according to a recent Transamerica survey. But that could be more problematic than many realize. Here's why.
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