6 Ways to Build Multiple Retirement Income Streams Before You Hit 60

Core Insights - The article emphasizes the importance of planning for retirement income well in advance, suggesting that relying solely on Social Security may not be sufficient for most retirees [1][3][4] Social Security Concerns - The average monthly Social Security benefit for retirees is $2,008, translating to just over $24,000 annually, which may not meet retirement needs [3] - By 2033, Social Security is projected to only be able to pay 77% of owed benefits due to a deficit, highlighting the urgency for legislative action to address this issue [4] Retirement Income Strategies - It is recommended that individuals consider delaying Social Security benefits until age 70 to maximize their income [5] - Establishing multiple income streams for retirement is advised, with pension income being one potential source [6][8]