Planning for Retirement

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Planning for Retirement

Planning for Retirement
Even though people live solely off their Social Security now, everyone should have a retirement plan because Social Security may not be there forever. If you want to retire with a comfortable lifestyle, you should start planning now. If you do not want to have to burden others to help take care of you when you are older, you need to be planning now. I have seen to many elderly people not be prepared for retirement, and they are now facing many hardships. Times have changed, and the government is not as reliable as it used to be. People are constantly reaching the retirement age and at some point the Social Security funds may no longer be available. People should do everything in their power to plan for their retirement because time goes by all too quickly. Social Security may be obsolete by the general retirement age of sixty-five. This is the retirement age set by the Social Security Administration. Each generation has a set retirement age that the Social Security Administration has set for them. Sometimes this could not be the right retirement age for you, and you should start preparing for that now. Three out of every ten retired people live on their Social Security benefits alone. This could be very hard depending on how your health and lifestyle are at the age of sixty-five. No one can look into the future to know if your Social Security benefits would be enough for you. Funds are rapidly declining with the Social Security and could be entirely gone by 2036 (Bradley, 2011). When you have a retirement plan to fall back on, this could be the funds that you need to help with extra expenses that may arise. Do you want to have to work past your retirement age if you do not have the funds to retire? Having an extra retirement plan besides your Social Security can help ease this burden. If you have extra funds, you will not have to worry about having to work past your retirement age. Have you also considered the...
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