These 3 Dangerous Social Security Myths Could Destroy Your Retirement
There's a good chance you'll wind up relying on Social Security to some degree once your career comes to a close and the steady paycheck that once sustained you goes away. But if you don't educate yourself on Social Security, you could wind up cutting your benefits and hurting financially as a result. Here are three troubling myths about the program you can't afford to believe.
Some people are under the very erroneous impression that the monthly benefits they collect from Social Security will be similar to what their paychecks looked like. Not so. If you were an average earner, you can expect Social Security to replace about 40% of your pre-retirement income. Most seniors, meanwhile, need close to double that amount to live comfortably and keep up with their expenses.
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Source Fool.com
