Rough Draft Final Paper
Because our country may not have a social security program to depend on in the future, Americans relying on our countries social security program might be worse off than Americans who set money aside for retirement for when they become unable to work. Should Americans set money aside for retirement or should they rely on social security for a safe future? If people knew more about our countries social security structure would they still want to pay into social security? There are several reasons Americans should plan safe and put money aside for retirement instead of relying on a government program such as social security. One reason in particular should stand out and be reason enough for Americans to plan safe with a retirement fund and not rely on our countries flaky social security program.
One reason that Americans should not rely on our countries social security program is that according to a study done by the Hartford Financial Services Group, 85.4% of Americans say that social security alone will not be enough to support them and their families upon their time of retirement (John Sullivan December 14, 2010). “The lack of confidence about the adequacy of social security, combined with a growing pessimism about the future, is contributing to greater uncertainty on the part of many Americans about when or if they will actually retire,” says Dr. Joseph Coughlin, founding director of the Massachusetts Institute of Technology’s Age Lab. A way to fix the problems might be to accumulate as many assets toward retirement such as 401K’s, IRA’s, etc. so that one might be able to combine those assets with their social security to have enough money to make it during their future retirement. As for our generation and our children, I believe that it is of the utmost importance to teach our children to plan for the future and set money aside to retire on. I also believe that the most success in retirement would come from planning on retirement to... [continues]
Because our country may not have a social security program to depend on in the future, Americans relying on our countries social security program might be worse off than Americans who set money aside for retirement for when they become unable to work. Should Americans set money aside for retirement or should they rely on social security for a safe future? If people knew more about our countries social security structure would they still want to pay into social security? There are several reasons Americans should plan safe and put money aside for retirement instead of relying on a government program such as social security. One reason in particular should stand out and be reason enough for Americans to plan safe with a retirement fund and not rely on our countries flaky social security program.
One reason that Americans should not rely on our countries social security program is that according to a study done by the Hartford Financial Services Group, 85.4% of Americans say that social security alone will not be enough to support them and their families upon their time of retirement (John Sullivan December 14, 2010). “The lack of confidence about the adequacy of social security, combined with a growing pessimism about the future, is contributing to greater uncertainty on the part of many Americans about when or if they will actually retire,” says Dr. Joseph Coughlin, founding director of the Massachusetts Institute of Technology’s Age Lab. A way to fix the problems might be to accumulate as many assets toward retirement such as 401K’s, IRA’s, etc. so that one might be able to combine those assets with their social security to have enough money to make it during their future retirement. As for our generation and our children, I believe that it is of the utmost importance to teach our children to plan for the future and set money aside to retire on. I also believe that the most success in retirement would come from planning on retirement to... [continues]
Cite This Essay
- APA
-
(2011, 02). Social Security or Retirement?. StudyMode.com. Retrieved 02, 2011, from http://www.studymode.com/essays/Social-Security-Or-Retirement-584599.html
- MLA
-
"Social Security or Retirement?" StudyMode.com. 02 2011. 02 2011 <http://www.studymode.com/essays/Social-Security-Or-Retirement-584599.html>.
- CHICAGO
-
"Social Security or Retirement?." StudyMode.com. 02, 2011. Accessed 02, 2011. http://www.studymode.com/essays/Social-Security-Or-Retirement-584599.html.
