Are You Underestimating How Important Social Security Will Be for Your Retirement?

Christy Bieber, The Motley Fool
·3-min read
Are You Underestimating How Important Social Security Will Be for Your Retirement?
Are You Underestimating How Important Social Security Will Be for Your Retirement?

According to recent research from the Society of Actuaries, just 50% of pre-retirees expect their retirement benefits from this entitlement program to be a major source of income. On the one hand, this is good news -- if it means Americans are being realistic about what Social Security will do for them and are saving enough so they aren't overly reliant on these benefits. On the other hand, if Americans aren't ensuring they'll have plenty of money to supplement Social Security, underestimating the limited role these benefits will play in retirement could be damaging.