Statistically Speaking, Nearly 50% of Future Retirees May Face an Unpleasant Social Security Surprise
For the past 22 years, national pollster Gallup has been conducting surveys to gauge how reliant retirees are on Social Security income to make ends meet. At no point in those 22 years has this reliance varied between 80% and 90%. As of 2023, only 10% of retirees responded that they didn't need their monthly Social Security check to cover their expenses.
It's a somewhat similar story for future retirees, as well. Over 23 years, Gallup has found that between 76% and 88% of non-retirees anticipate needing Social Security income in some capacity to cover their expenses during their golden years.
In other words, getting the most out of Social Security is incredibly important for seniors. However, an unpleasant Social Security surprise may await around half of America's future retirees.
Source Fool.com
