Dave Ramsey: Nearly 50% of Americans have made a big mistake in social security

Dave Ramsey warned that nearly 50 per cent of Americans had committed a major social security error and offered a three-step solution. According to Ramsey ' s 2023 Retirement Crisis today, 42 per cent of Americans are currently not saving for the future. According to the survey, nearly 62 per cent of retired Americans indicate that social security is their main source of retirement income, but these benefits are designed to replace only 40 per cent of pre-retirement income. The average monthly benefit of the social security pension is expected to be $2071 by 2026, with an annual income of just over $24,852, well below the amount required for a comfortable retirement. Ramsey recommended that any person wishing to have a comfortable retirement should set a minimum monthly savings base, with a recommended savings rate of 15 per cent of total income. In addition, the use of tax concessional accounts (such as 401 (k) and Roth IRA) is an important way of reducing tax burdens。