Can You Count on Social Security When You Retire?
Social Security is arguably the most important social program for our nation's retired workers. Each month, more than 42 million of the 61.6 million people receiving a monthly stipend from the Social Security Administration are retired workers. Of these retirees, more than three out of five (62%) rely on their payout to account for at least half of their income, with about a third reliant on Social Security for practically every cent they get each month.
An analysis conducted by the Center on Budget and Policy Priorities found that Social Security income keeps senior poverty rates below 9%. Without this income, an estimated 41% of seniors would be living below the federal poverty level. It's simply that important of a program.
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Source: Fool.com
