Subscribe to RSSShould You Count Social Security in Your Net Worth?
I have heard the argument made that one can count Social Security as part of their net worth. The argument does hold some water, especially when you consider the average check for a retiree is approximately $1168 a month. You would need quite a bit of money to be able to generate those monthly returns, based on today’s CD/Savings rates. That said, the Social Security/net worth argument should not be an excuse to think you are ahead of the curve. Remember, the bills don’t stop coming when you retire. My biggest concern for people looking retire over the next few years is potentially miscalculating their expenses/budget and inflated expectations of their home’s value (and ability to sell in this market). You can figure that there is always going to be a buyer for your property if you price it right, but that’s where most people get hung up. They don’t understand the market as well as they should, and decide to push ahead with retirement without first running the numbers. It’s smart to do some initial research if you’re interested in downsizing. You can easily get a real estate agent give you the latest comparable sales in your area to help you get a handle on your retirement plans. Of course, my hope is that people can begin to generate other income, outside of just the main Social Security pipeline. Investing in quality dividend-paying stocks is one of the best ways to do that today. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .
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Should You Count Social Security in Your Net Worth?
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