8 Ways People Waste Their Social Security Check

Social Security is the backbone of many Americans’ retirement plans. As of December 2016, more than 41 million people were receiving Social Security retirement benefits, with an average monthly payout of $1,360.

However, Social Security was never designed to replace a worker’s pre-retirement income in its entirety. Ideally, this benefit should comprise about 40 percent of the income for workers with average earnings, with the rest of the funds coming from other sources, such as 401ks. Because Social Security has a relatively meager payout, it’s important for workers to budget carefully and avoid spending their checks in frivolous ways.

Stay away from these Social Security spending mistakes so you’ll have enough money to live on in retirement.

1 23 ... 9NEXT

Leave a Comment

Your email address will not be published.

2 thoughts on “8 Ways People Waste Their Social Security Check”

  1. I think you made all good points on this article. I still work and i got my social security at full retirement age. I use it to pay my rent. Is this a good idea.

gun law

5 States to Implement New Gun Laws in 2022

Last year, the Biden administration announced proposed legislative changes and executive actions to restrict “ghost guns,” “the creation of new,” and “red flag laws” and ATF clarification of firearm stabilizing braces. For law-abiding gun owners and for people who want


13 Laws That Make America a Better Place

We all want a better country to live in! And usually the “friend in need” is the law. They are the most important things for a state to function properly. Some of the most important laws were written in the

From Our Network: