48% of Older Households Are Making This Dangerous Social Security Mistake

48% of Older Households Are Making This Dangerous Social Security Mistake

It's no secret that Social Security is a major income source for many retirees today, but some older Americans are relying too heavily on those benefits. In fact, 48% of households aged 55 and over have no retirement savings or pension outside of Social Security, reports the Senior Citizens League. The average senior on Social Security today collects $1,523 a month, or $18,276 a year.