 It is, Ralph. For the average earner, Social Security will only replace about 40% of your pre-retirement wages, but it's still an important component of a retirement income strategy. In case of reductions in your Social Security payments, you need to have a solid handle on your other sources of income in retirement and find that balance between safety and growth. Your different sources of income are taxed differently in retirement, and you need to understand the tax impact of your retirement income.