Can you retire on just Social Security? The Answer Might Surprise You #retirement #finance

Added: 2026-05-21

[00:00:00]And and what we always want to have, Rebecca, is [music] a baseline of income. Right. Right. So if we know that we need X amount of dollars every month, we want to have pure predictability on that income. An example would be I had a a woman come in, single woman. Um she makes really good income right now.

[00:00:19]Uh she even helps support her mother.

[00:00:21]She sends her mother about $500 a month cuz her mother didn't do much planning and lives solely on a social security check. And you know what she did is she's going to retire at full retirement age. She's 60 years old right now. So we have about 7 years before she retires.

[00:00:39][music] We know her social security check at full retirement age is going to be about $42,000 a year. And what we did is we took a portion of her money and at 67 when she turns on the income annuity, she's going to get $38,000 of guaranteed lifetime income. Now, to her that gave her the peace of mind knowing that [music] no matter what happens in the market over the next 7 years between Social Security and the income annuity, she's going to have $80,000 of guaranteed income. And that's a good baseline to fund her lifestyle. [music]