Social Security: Saving Longer Future

With saving more, I need to save longer. I am going to start thinking about working longer now. Due to the increase in life expectancy, I would not lose years in retirement. It is important for me to evaluate and determine how long I should work. Working longer would increase my monthly Social Security benefits, which allows me to contribute more to my savings and 401(k) plan. I plan on claiming my Social Security later, as well, to have high benefits for myself and for my spouse. For me, graduating with a health services management and community development degree would require me to keep up with my skills and knowledge in healthcare to extend my working career. Since I am still young, I more than likely will not work for only one employer in my lifetime. I would have to let my employer know my target retirement age and my commitment to work longer. I currently live with my parents, but in the future when I own a home, I will treat my home as an asset
It is important to look at the bigger picture to what needs to happen systemically to aid the retirement efforts. It is important that the retirement system is well structured with incentives that would push others to make smart choices. The government should publicized and make known to everyone that Social Security's real retirement age is 70. To benefit from Social Security the most would be at the age of 70. To do so, it would ensure that based on life expectancy, people who take lower benefit early receive about the same amount in total benefits over their lifetimes as those who wait to receive high monthly benefits later. It would help Americans make well-informed decisions about when to retire, the administration should make it apparent that 70 is the target age as part of the agency’s educational efforts with clear explanations of benefits of working longer to ensure a larger impact over time on the way Americans think about retirement