Social Security is truly not an adequate choice for a nest egg that can secure the future of Americans, especially when planning for retirement is not up for consideration. In the early 1930s Social Security arose by working Americans paying into a system that in return should replenish their future. As the main source of retirement during this time the plan includes support for most disability workers, children losing their parents, and the elderly. The sole use of Social Security was the intent of forming a solid structure for retirement and not a method a person should trust entirely (p.24). More than 35 million people paid homage to the plan back in the 1940s and over 50 years later the fund should spill over with money to retire all working Americans who have paid their dues. Back then putting into Social Security was a privilege that paid off. This was a good time to believe without many worries knowing that the future was secure. In the 21st century the need to keep Social Security going is hanging on by its last leg. The economy took a turn for the worse and the savings existing solely for retirement in the stock market were lost. People virtually had to start over after losing their lively hoods. If this is happening now it sure can happen in the future. Americans need to have a plan B for retirement because Social Security is not a promise. No matter how much a person puts into the fund others are in need to keep it flowing properly. Within the past 20 years there were reforms brought to the table to change the ways Social Security is most adaptable for each individual. Statistically speaking if the economy does not improve the future generation will not have anything to rely on.
The Social Security system will disappear by the current retirement age between now and 2029 and where will each individual end up (p9). Relying on Social Security checks should not require the existence of maintaining in life because acquiring financial security will not...
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