Personal Wealth Management / Retirement

Overestimating Social Security Benefits | Fisher Investments Common Retirement Investing Mistake #6

Retirement is supposed to be an exciting time. Finally, you have the time to travel and pursue the hobbies that you were unable to during your working years. Unfortunately, many spend much of their retirement worried about their finances. At Fisher Investments, we’ve helped thousands of individuals and families plan their financial futures so they can enjoy a comfortable retirement.

Transcript

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social security is an important
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component of the american retirement
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system
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and for many social security benefits
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are an essential source of cash flow in
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retirement
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but your benefit will likely not replace
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all of your income in retirement
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for average earners social security
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retirement benefits only replace about
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40 percent
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of pre-retirement earnings if you have
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lower earnings
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your benefits will likely replace a
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larger percentage of your income
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if you are in the upper income brackets
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your social security benefits will
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likely replace
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a smaller percentage of your income that
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may sound counter-intuitive
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but the social security program was
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designed to reduce poverty
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amongst retirees as such
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annual earnings above a set amount do
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not count towards your benefit
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the average monthly social security
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payout in june of 2019
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was 1 470
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this will likely be a very welcome
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source of retirement income
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but remember that social security is
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just one part
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of a successful retirement strategy
1:16
thanks for watching you can check out
1:19
our
1:19
other six common retirement investing
1:21
mistakes
1:22
to learn more about what to avoid as you
1:25
plan for your financial future
1:27
if you enjoyed this video you can click
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the subscribe button
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and ring the bell to be notified when we
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publish new content
1:34
thanks for watching
1:52
do
1:54
[Music]
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you

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