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Social Security Ignorance Widespread

Middle-Income Boomers Unclear on Social Security
"Middle-income Americans between the ages of 55 and 75 are under-informed about Social Security. This is according to a new study, which found that in addition to misunderstanding how Social Security works, most middle-income boomers haven't considered how much money they'll need each month after retirement or how long they may expect to live. Misunderstandings about Social Security include believing that cost-of-living adjustments are guaranteed and that full benefits will be paid beginning on the 65th birthday. Only 21 percent of middle-income retirees and pre-retirees have discussed longevity with an advisor and only 21 percent have calculated a monthly retirement income goal." Thanks to the Personal Finance Employee Education Foundation. For details see:
To learn more about Social Security check out the reliable resources from the Center for Retirement Research at Boston College:
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Social Security Ignorance Widespread
Social Security Ignorance Widespread
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