How Important is Social Security to Most Retiree's? #retirementplanning #financialadvice

In response to a question I received about just how valuable the cost of living adjustment built into social security is, I thought it would be helpful to show the numbers. Most of us just take social security for granted. But it is a wildly important linchpin of the average retiree's income in retirement. This video is not sharing an opinion on how the social security trust fund is run or whether it is future proofed. It's simply an exercise showing how incredibly valuable social security is because of three key factors. 1 - It is a guaranteed source of income. 2 - You face no investment risk on the income source. and 3 - You have no investment selection responsibility.
Watch the video to find out exactly how much you'd need to have saved in order to replace social security, what rate of return you'd need to achieve to replace social security, and more. How Important is Social Security to Most Retiree's?

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Eric Amzalag, CFP®, RICP®

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