Overview
- An EBRI survey shows about 35% of workers expect Social Security to be a major income source, prompting Dave Ramsey to warn they will “learn the hard way” if they rely on it.
- Social Security is designed to cover roughly 40% of pre-retirement pay, and the average retired-worker benefit is about $2,015 per month in 2026, underscoring the limits of living on benefits alone.
- Ramsey’s research highlights widespread under-saving, with roughly 42% not saving for retirement and only about 1 in 10 contributing 15% or more of income.
- The advice landscape is splitting, as Ramit Sethi argues Ramsey-style prescriptions were built for a different era of pensions and cheaper housing, while Kiplinger urges “new rules” that factor in longevity and rising health costs, including an estimated $330,000 over retirement for a couple.
- Recent reporting spotlights starkly different retiree outcomes — from a $4,200 monthly benefit covering one woman’s needs to callers near retirement with little savings — and points to practical steps like budgeting, small consistent investing, delayed claiming, part-time work and applying for SSI.