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How Much You Should Have in Your Retirement Fund at Every Age

GOBankingRates logo GOBankingRates 4/22/2020 Roger Wohlner
a person riding on the back of a red boat on the water: Shot of senior woman canoeing in lake on a summer day. Mature woman paddling a kayak in lake. © jacoblund / Getty Images/iStockphoto

Shot of senior woman canoeing in lake on a summer day. Mature woman paddling a kayak in lake.

If you’re counting on Social Security to fund your retirement, you might want to think again. According to MarketWatch, the two funds that pay Social Security’s benefits — the Old-Age and Survivors Insurance and the Disability Insurance trust funds — will run out of money in 2035 if Congress does nothing to fix the program. While Social Security benefits won’t disappear if this happens, the funds will come only from taxes and therefore payouts will be lower. With less help from the government, it’s important to start saving now to protect yourself and your loved ones during your golden years.

This article originally appeared on GOBankingRates.com: How Much You Should Have in Your Retirement Fund at Every Age

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