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…
Earnings are much more important, but 401(k) withdrawals have yet to make their mark. 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 Federa…
