In June, more than 66 million people took home a Social Security benefit, 49.4 million of which are retired workers. For the lion's share of these retirees, Social Security income is a veritable necessity.

Over the past 22 years, national pollster Gallup has questioned retirees to gauge their reliance on this all-important program. Every year, between 80% and 90% of respondents have stated that their monthly check from America's top retirement program accounted for a "major" or "minor" source of income.  In other words, senior poverty rates would be many multiples higher if Social Security didn't exist.

For all Social Security beneficiaries -- and especially retired workers -- the biggest day of the year is now less than two months away.

Continue reading

Source Fool.com