Millions of seniors rely solely on Social Security, highlighting the importance of additional retirement savings.

From Nasdaq: 2025-07-03 03:36:00

Summary:
Personal finance experts emphasize the importance of saving for retirement to avoid relying solely on Social Security benefits, as millions of seniors struggle to make ends meet with only those funds. With potential benefit cuts looming in the future, it’s crucial to have additional income sources. By investing in retirement accounts like IRAs or 401(k)s, individuals can build a substantial nest egg and reduce their dependence on Social Security, ensuring a more comfortable retirement. Taking steps now to save and invest can lead to financial security in the future.

Source: https://www.fool.com/retirement/social-security/what-could-happen-if-you-only-have-social-security-in-retirement/?utm_source=nasdaq&utm_medium=feed&utm_campaign=article&referring_guid=0362709e-f3a5-4081-924d-8271b627db7c



Read more at Nasdaq: Almost 22 Million Seniors Live on Social Security Alone. Here’s Why That’s a Problem.