Securing Your Retirement
Social Security was established, on August 14, 1935, to take care of the country's elderly in their retirement years. Today, about 65 million or 1/6 of Americans collect benefits and the average monthly retirement amount received in January 2022 was $1,614 per month or about $19,370 per year. This annual Social Security benefits exceed the 2022 Federal poverty level of $13,590 for individuals and $18, 310 for a family of two but from a practical level, it is nowhere near enough to be comfortable in your "Golden Years." Every adult in the work force, can go to SSA.gov to find out what to expect to receive based on their planned retirement age. Since it probably won't be the amount you need to retire comfortably, at least you'll know how short you'll be so that you can devise an investment plan. There's a quick formula to estimate the investable assets needed by retirement to generate a certain income. The target annual income is divided