Tag: retirement income
Social Security alone is simply not enough, new Vanguard study confirms. People often assume that the retirement needs of low-wage workers are covered by Social Security’s progressive benefit formula. That assessment has never been correct. Social Security was never intended to be the sole source of income for any group of retirees. Social Security replacement…
For many reasons, we have been looking at the sources of income for households ages 62-75 – a group eligible for Social Security, many of whom could be presumed to be retired. Three patterns emerged when comparing data from the Federal Reserve’s 2019 Survey of Consumer Finances (SCF) with the 1995 SCF. Earnings have becom…
