Half of Americans Think Their Quality of Life Will Decline Once They Start Collecting Social Security

Throw in the fact that benefit cuts may be on the table come 2035 or sooner -- whenever Social Security's trust funds run out of money -- and it's no wonder half of Americans believe their quality of life will suffer after they start collecting Social Security. If you're worried your quality of life will decline once you start collecting benefits, the solution is simple: Amass a robust nest egg so you're not particularly reliant on Social Security in retirement. If you're planning to not save anything for retirement, then chances are, your quality of life will indeed decline once you leave your career behind.