This New Social Security Bill Demonstrates Why Bipartisanship Is Critical for Success
How important is Social Security for today's retirees? According to new data from the Social Security Administration (SSA), 61% of all current retirees relies on their monthly benefit check for at least half of their income. And don't expect this reliance to wane anytime soon.
According to national pollster Gallup, 34% of non-retirees expect Social Security to account for a "major" part of their income, tied for the second-highest reading of all time, while just 19% of future retirees don't expect to be reliant on the income provided by the program. The poor saving habits of Americans, compounded with their avoidance of the stock market, arguably the best long-term wealth creator, hasn't exactly reduced the expected reliance on Social Security in the years to come.
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Source: Fool.com
