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In case you didn’t get the memo, you probably shouldn’t rely on Social Security too heavily to pay the bills in retirement. Those benefits will only replace about 40% of your income if you’re an average earner, and let’s face it — if you want to enjoy a comfortable lifestyle, that won’t be enough.
That’s why it’s important to consistently fund a 401(k) or IRA for as long as you can during your career. The money you sock away in that account can serve as a nice supplement to Social Security.
You may be wondering how well you’re doing on the retirement savings front. And Fidelity has some answers.
