How to Retire on Social Security Alone

You'll often hear that Social Security won't pay you enough to live on, and for many seniors, that's true. The average recipient in 2021 will collect just $1,543 a month when we account for the 1.3% cost-of-living adjustment that'll apply to benefits next year. That equates to an annual income of $18,516.

You may not want to live on Social Security alone. But unfortunately, you might need to if you don't have independent savings or a pension and you're unable to work in some capacity. If that's the case, here's how to get the most from your Social Security benefits.

Image source: Getty Images.

Source Fool.com