Do not depend on Social Security as your only retirement income.
- You cannot count on that money even being there
- Retirement age will be increased
- People who depend on it today as their only retirement income are living in near poverty
- If you are not in an some sort of qualified retirement plan it will be difficult to meet your retirement income needs
- If you have no post-retirement wages the potential for shortfall in your retirement planning may be even greater
To ensure a comfortable lifestyle during retirement, it is necessary to establish and maintain a savings plan that will bridge the gap between the income needed to retire comfortably and the income Social Security provides. Your 401k plan is essential to helping your financial future.