Why I Look at Social Security as Bonus Money for Retirement -- and Nothing More
Many seniors routinely rely on Social Security as a major source of retirement income. Some seniors depend on those benefits as their only income source.
I, on the other hand, am not counting on those benefits to get me through retirement. That doesn't mean I'm not expecting any income from the program at all. There are rumors going around that Social Security is running out of money, but the reality is that right now, the worst-case scenario in that regard involves benefit cuts -- not the program disappearing completely.
But even so, I'm taking a very specific approach to Social Security. In a nutshell, I refuse to count on those benefits to pay my senior living costs. Rather, I regard Social Security as a source of bonus money only. Here's why.
Source Fool.com
