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Ideally, Social Security will replace no more than 40% of your past earnings.
The main reason so many people depend heavily on Social Security is they havent built up enoughretirement savings.
If you are approaching retirement age,here are four signs your plan is too reliant on Social Security.
The amount of money you should havesaved up for retirementvaries depending on who you ask.
By age 60, you should have seven times your annual earnings saved for retirement, according to Ally.
Without that 20%, you might end up leaning too heavily on Social Security in retirement.
Carrying too much debt into retirement is another sign that youll be too reliant on Social Security.
This metric provides a clear picture of your financial health and repayment ability.
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