Financial Hour: Retiring on Social Security Alone
We answer listener questions including:
- I am nearing retirement, and have saved a modest amount in my 401(k). My parents got by on Social Security for the most part, and I have been planning on that as well. I know financial people always say it’s not good to rely solely on Social Security, but statistics say many retirees are, so isn’t it possible to retire on Social Security? – Anonymous
- With the recent volatility in stocks and media discussion of a recession, a lot of people (myself included) have been thinking about moving to more bonds. However, after doing research, it seems the bond market is having it’s own issues. What should investors be doing to prepare ourselves for a recession? – Stephen, Cedar Rapids
Plus 11 Signs Your Retirement May Be More Expensive Than You Thought.