10 Ways To Pay For Retirement

LANGER REPORT

 

Throughout much of our lifetime, we receive income from a single source: our job. That changes when we retire. Most retirees receive income from a variety of places, including Social Security,retirement account withdrawals and increasingly a part-time job, according to a recent Gallup survey of more than 2,000 U.S. adults, including 636 retirees. “Obviously retirement these days is expensive, and you probably need to draw on as many different sources as you can,” says Jeffrey Jones, managing editor of Gallup Poll. Here are 10 of the most common ways to pay for retirement:

Social Security. Social Security is the most common way Americans pay for retirement, and 61 percent of retirees say it is a major source of their annual income. However, only 30 percent of working Americans say they expect Social Security to play a large role in their retirement finances, with younger Americans the least likely to count on it.

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