Not a full replacement of income
Even when Social Security was established in 1935, it was intended to serve only as a supplement — not a replacement — to a retiree's income, and this continues to be the case.
Given the problematic future of Social Security, an increasing normal retirement age and the fact that monthly benefits cover only a fraction of most retirees' budgets, it is in your best interest not to count on Social Security as your main source of retirement income and instead to rely on other vehicles such as retirement plan savings, IRAs and personal savings to fund the majority of your retirement.
