Plan for a Smaller Social Security Check

For most investors and retirees, Social Security currently constitutes their biggest asset in retirement.

As public and private pensions have continued to disappear, more retirees will lean on this safety net to provide much needed income. This also includes a hefty dose of people prepared for retirement with adequate savings.

But perhaps we need to prepare a bit more.

It turns out that most of us have been over-estimating what we’ll get from the program during our planning processes. This can have huge implications when we finally hit our golden years. For savers and investors, the reality is that we need to save even more than we think.