The Older Generation Knows More
Let’s say you’re about to start discussing your retirement plans with a group of people. Who should you expect to know more about Social Security? According to a study, older people know more, answering questions about the plan correctly far more often than younger respondents.
For example, 18 to 24-year-old people guessed that the average monthly check was under $500.
Does this mean you should base your plan on what other people are saying, such as older neighbors or relatives? Not always! If you’re looking for tips and tricks to budget, perhaps, but when it comes to the entirety of your retirement plans, it’s best to contact a professional!
