As of December 2018, more than 43.7 million retired Americans collected Social Security, with more than 8 million disabled workers collecting benefits as well. But Social Security is much more than retirement income. Along with providing a small income to millions of seniors, Social Security also provides life insurance as well as survivor benefits.
All investors – be they conservative, moderate or aggressive – need to understand that the level of returns they expect to generate is directly related to the amount of risk they are willing to assume – the higher the return, the higher the amount of risk one needs to take.
How to Avoid Retirement Woes
For years it was assumed that tax planning was reserved for the wealthy. While wealthy individuals will see the most benefit from tax planning, with big changes looming for the 2018 tax year, even middle-income earners can reap the benefits of tax planning.