Planning for retirement is never too early. As you approach retirement age,

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the earlier you make plans, the better off you'll be later in life.

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You are bound to discuss social security during retirement planning,

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And you may decide whether or not to take advantage of those benefits.

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Social security payments are available to people over the age of 62 who have paid in for at least 10 years

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instead of less than that. An eligible person can receive $841 per month from the Social Security Administration in 2022,

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While a couple may receive $1,261 per month. The payments have increased by 5.9% from 2021.

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Many Americans do not seem to be leaning towards relying heavily on social security to pay for their retirement, [{ "selector": ".dnqnx-a", "duration": "500ms", "fill": "forwards", "delay": "500ms", "keyframes": [ {"offset": 0, "transform": "rotate(-580deg) scale(0.1)", "opacity": 1}, {"offset": 1, "transform": "rotate(0deg) scale(1)", "opacity": 1} ] }]

Depending on their situation. A recent survey conducted by Go Banking Rates revealed

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That 71% of Americans don't plan to fully rely on social security to fund their retirement.

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Social security payments are expected to be partially dependent on just 45% of the population,

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16% believe they would not be able to receive any, and 11% do not believe they will qualify for it at all.

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How will Americans retire if they do not plan to receive social security benefits?

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