To commemorate Social Security’s 90th anniversary, the Transamerica Center for Retirement Studies published Social Security Turns 90: The Cornerstone of Retirement Income to highlight the program’s vital role in helping Americans achieve a more secure retirement.
The report examines people’s beliefs, expectations, and reliance on Social Security. It also sheds light on their views on how to address its funding shortfalls.
Go deeper: Americans are expecting diverse sources of retirement income with Social Security (69 percent) topping the list of most cited sources. Fifteen percent said they expect to use home equity as a funding source.
- Almost one in three Americans (32 percent) expect their primary source of retirement income to be Social Security, while 29 percent answered 401(k)s, 403(b)s, and IRAs and two percent home equity.
