This Popular Retirement Income Strategy May Not Work Soon Enough
It's optimal for retirees to have multiple income streams to rely on, as opposed to a single source. Although a good number of seniors have only their Social Security benefits to live on, a better bet is to have a combination of those monthly benefits and savings at the very least. And the more income sources you have layered on top of that, the better.For many seniors, part-time work serves as a means of boosting retirement income. And if you're newly retired with minimal savings, and living mostly on Social Security isn't workable, then you may be eager to supplement your income with earnings from a job.Image source: Getty Images.Continue reading
It's optimal for retirees to have multiple income streams to rely on, as opposed to a single source. Although a good number of seniors have only their Social Security benefits to live on, a better bet is to have a combination of those monthly benefits and savings at the very least. And the more income sources you have layered on top of that, the better.
For many seniors, part-time work serves as a means of boosting retirement income. And if you're newly retired with minimal savings, and living mostly on Social Security isn't workable, then you may be eager to supplement your income with earnings from a job.
Image source: Getty Images.
