There's a reason financial experts warn people not to retire on Social Security alone. Those benefits will generally replace about 40% of your pre-retirement wages if you're an average earner. And most seniors need about twice that much income to live comfortably.

But what if you're on the cusp of retirement and Social Security will be the only income source you'll have available? It could be that you kept running into large expenses that prevented you from building a nest egg. And it may be that your job, like many, doesn't give you a pension to fall back on.

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Source Fool.com