According to data published by the U.S. Social Security Administration (SSA) in December 2019, the median monthly benefit paid out to retired individuals is just $1,503. For disabled individuals, the average monthly benefit was just $1,258. The SSA estimates that approximately nine out of 10 persons aged 65 and up collect Social Security and anticipates paying more than $1 trillion to roughly 65 million people this year.
Social Security just doesn't cut it for many recipients for the simple reason that benefits are spread so thin across a substantial population of eligible recipients. The good news is, by investing in tried-and-true large-cap stocks, you can supplement your Social Security income and strengthen your financial position during an economic downturn. Let's take a look at two of my favorite top pharmaceutical stocks that could help you take control of your financial story.
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