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Baby Boomers Are Overestimating Future Social Security Income (www.bloomberg.com)
submitted 1 year ago by deconstruct@lemmy.world to c/personalfinance@lemmy.ml
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Baby boomers anticipate that 47% of pre-retirement earnings will be replaced by Social Security, according to results of an annual survey from the Nationwide Retirement Institute. But the reality for someone making what the Social Security Administration considers the average wage in recent years, about $60,000, is more like 37%, according to the Committee for a Responsible Federal Budget. And the percentage drops as household income rises.

Alternate: https://archive.ph/Hx1PM

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[-] niktemadur@lemmy.world 10 points 1 year ago

One has to wonder how many of them have been conned by reality-distorting right-wing propaganda into the stance "Keep your dirty government hands off my Medicare" and vote republican.

this post was submitted on 25 Aug 2023
110 points (96.6% liked)

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