The Harsh Reality of Living Only on Social Security Income in 2022
If you don't have a nest egg by the time you're ready to leave the workforce, you may anticipate relying on your Social Security benefits to provide the income you need to cover the basics. Unfortunately, if this happens to you, you could be left facing serious financial struggles that leave you coping with a lot of insecurity in your later years.
That's because the income Social Security provides will likely fall far short of what you expect.
Let's see what your annual earnings would look like if you tried to live on Social Security without any supplemental income after you leave the workforce.
Source Fool.com
