From Yahoo Finance: 2025-05-24 11:15:00

Social Security is crucial for middle-class retirees, but relying solely on it may lead to financial struggles. With a median U.S. household income of $74,580, a 55-year-old planning to retire soon may receive only $22,428 annually from Social Security, dangerously close to the poverty line. Planning for retirement without depending entirely on Social Security is advisable due to concerns about its long-term sustainability.
Delaying Social Security benefits can significantly increase monthly payments. While benefits can start at age 62, waiting until age 70 results in a larger benefit amount. Strategies to maximize Social Security benefits are essential, as they can be taxable depending on total income. Proper tax planning can help reduce tax liabilities on Social Security benefits.
Investing in gold IRAs can provide significant tax advantages and hedge against economic uncertainties. Real estate investments, both residential and commercial, are solid options for diversifying portfolios. New platforms like Homeshares offer access to the U.S. home equity market for accredited investors. Consider supplementing Social Security with part-time work, rental income, and other investments for a comprehensive retirement strategy.



Read more at Yahoo Finance: How much Social Security do middle-class retirees get?