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Top 5 Social Security myths

Mediafeed Logo By David Wolinsky of Mediafeed | Slide 1 of 8: While “it’ll figure itself out” might be a popular mindset when thinking about future Social Security benefits, particularly if you’re still relatively young, you don’t have to know much about the topic to understand that strategy probably won’t yield the results you might be hoping for in your retirement years. You also aren’t alone: Only 41% of people have actually figured out how much they need for retirement.It’s totally understandable — and normal, even — to feel overwhelmed and prefer to avoid thinking about the actual logistics involved with setting yourself up to live kicked back without working.But some Americans consider it a right of passage that’s never too early to start planning for. Even if you’re not necessarily counting on Social Security to be a silver bullet for living out your golden years, it often can be an important part of planning for the future. Related: When will Social Security run out?

Retirement is never too early to plan for

While “it’ll figure itself out” might be a popular mindset when thinking about future Social Security benefits, particularly if you’re still relatively young, you don’t have to know much about the topic to understand that strategy probably won’t yield the results you might be hoping for in your retirement years. You also aren’t alone: Only 41% of people have actually figured out how much they need for retirement.

It’s totally understandable — and normal, even — to feel overwhelmed and prefer to avoid thinking about the actual logistics involved with setting yourself up to live kicked back without working.

But some Americans consider it a right of passage that’s never too early to start planning for. Even if you’re not necessarily counting on Social Security to be a silver bullet for living out your golden years, it often can be an important part of planning for the future.

Related: When will Social Security run out?

© Zinkevych / iStock

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