Our family’s goal was to achieve financial independence assuming we will have no Social Security benefits. Our full retirement ages are over two decades away, and cuts to the program seem likely. We decided to consider any benefits we may receive as a bonus and haven’t paid much attention to Social Security.
I recently shared that I’ve been helping my parents with their finances as they transition into retirement. Seeing how valuable their Social Security payment is has been eye-opening.
With a paid-off home and cars and a low
tax-burden in retirement, they live a comfortable lifestyle with
most of their expenses covered by their Social Security benefits and a very