From Yahoo Finance: 2025-05-11 10:45:00

Planning for retirement can start early, even in college. Four potential income sources include Social Security, a pension, retirement accounts, and personal income. Anticipating possible cuts in Social Security benefits, creating a budget that aligns with expected benefits is crucial. The average Social Security check for retirees is around $2,000 per month.

To prepare for potential cuts in Social Security benefits, paying off debts, creating a post-retirement budget, and ensuring expenses align with expected benefits are key. Congress may need to address the sustainability of Social Security to prevent a 17% decrease in benefits in the future. Planning for retirement with a focus on maximizing Social Security benefits is essential.

Read more: Here’s Exactly How Social Security Fits Into My Retirement Plans