💸 Why Social Security Alone Isn’t Enough — And What You Can Do About It
By Tina Stroman-Valdez founder of FinFit | Financial Wellness for Real Life
When you picture retirement, you probably imagine freedom, comfort, and time to enjoy what matters most. But here’s the truth: relying solely on Social Security could leave you short — and stressed.
📊 The Numbers Don’t Lie
According to recent data from the Social Security Administration, here’s what the average monthly benefit looks like depending on when you claim: (for a clearer view see spreadsheet below)
Age You Claim Monthly Benefit Annual Benefit
62 $1,377 $16,524
65 $1,613 $19,355
67 $1,963 $23,552
70 $2,188 $26,250
Even at the highest payout — age 70 — that’s just over $26K a year. For most people, that won’t cover housing, healthcare, groceries, transportation, and the occasional “life happens” moment.
🚨 The Reality: Social Security Is a Supplement, Not a Solution
Social Security was designed to replace only a portion of your income — not all of it. And claiming early can permanently reduce your benefit. That’s why building your own retirement strategy is essential.
🛠️ Your Financial Fitness Toolkit
Here’s what a well-rounded retirement plan should include:
- 401(k), 403(b), Pension, or IRA Contributions These accounts grow over time, often with tax advantages and employer matches. Start early, contribute consistently, and let compound interest work for you.
- Emergency Fund Life doesn’t stop throwing curveballs when you retire. Medical bills, home repairs, or helping a loved one — these moments require quick access to cash. Aim for 6–12 months of expenses in a high-yield savings account.
- Other Investments Diversify with brokerage accounts, or real estate to create additional income streams and long-term growth.
- Health Savings Account (HSA) If eligible, HSAs offer a tax-efficient way to prepare for medical expenses in retirement.
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Financial Wellness Is a Lifestyle
At FinFit, we believe retirement planning isn’t just about numbers — it’s about peace of mind.
Whether you're 25 or 55, the best time to start is now. And if you’ve already started, keep going.
Your future self will thank you.
If you are asking yourself how you can do this, join the FinFit community. Watch out for my next blog and/or sign up for any of the offered FinFit services at www.financialfit.money.
Primary Article Source
- Title: Here's the Average Social Security Benefit for Retirees Aged 62 to 70
- Author: Trevor Jennewine
- Publisher: The Motley Fool via MSN
- Published: September 2025
| Age You Claim | Monthly Benefit | Annual Benefit |
|---|---|---|
| 62 | $1,377 | $16,524 |
| 65 | $1,613 | $19,355 |
| 67 | $1,963 | $23,552 |
| 70 | $2,188 | $26,250 |
Why Social Security Alone Isn’t Enough — And What You Can Do About It
