Social Security is a program that forms the financial foundation for a majority of our nation’s retired workers, and that’s not expected to change anytime soon.

We’re really dependent on Social Security income, and that could be a problem

Data from the Social Security Administration (SSA) shows that 61% of all current retired workers receiving benefits count on Social Security to provide at least half of their monthly income.

A separate survey of baby boomers who are readying to retire found a similar reliance on the program. According to the Insured Retirement Institute’s “Boomer Expectations for Retirement 2016” report, 59% of boomers anticipate leaning on Social Security for at least half of their monthly income. The SSA suggests that Social Security should only replace about 40% of a retired worker’s annual income.