Living on Social Security alone in retirement could lead to an income shortfall due to possible benefit cuts and inadequate COLAs. The average monthly retirement benefit is just $2,015, barely over $24,000 a year, replacing about 40% of an average paycheck. Social Security may face benefit cuts in the next decade as baby boomers retire, potentially leading to insolvency. COLAs often fail to keep up with inflation, leaving seniors with reduced buying power. To supplement Social Security, consider high-yield ETFs like JEPI, SPYD, HDV, and VYMI, which can generate consistent income and help build a comfortable retirement nest egg. A financial advisor can help tailor a portfolio to your income needs and risk tolerance to avoid relying too heavily on Social Security. By answering three quick questions, many Americans are finding they can retire earlier than expected, emphasizing the importance of planning for retirement beyond Social Security.

Read more at Yahoo Finance: COLA Forecasts Always Disappoint. It’s Better to Bank on High-Yield ETFs Before Social Security Is Insolvent