What People Do Not Know About Social Security Retirement Benefits

What People Do Not Know About Social Security Retirement Benefits

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
What People Do Not Know About Social Security Retirement Benefits What People Do Not Know About Social Security Retirement Benefits Brittany Jones COM/156 8/29/2010 1
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 2
What People Do Not Know About Social Security Retirement Benefits Saying that, in the United States we do not need to plan for retirement because Social Security will take care of all of our needs when we are retired in an inaccurate statement. Social Security is defined as a benefit program administered by the U.S Social Security Administration. In addition to health, disability, and survivor benefits, the program is intended to provide at least subsistence-level retirement income to program participants, who include nearly all workers in the United States. Social Security is an option for retirement, but it is not the only one. There are employer-sponsored plans, defined benefit plans, defined contribution plans, such as 401K, and of course Social Security. There are many things one must do when planning for retirement so that they can be sure that they are well taken care of. Because every case is different one must consider their own financial situation to have a better understanding of what they will need to do so they will have a secure future after retirement. A person could suffer if they do not take reasonable steps to prepare for their retirement. One may have to continue to work longer than they had hoped to make ends meet. They may also have to rely on the help of others to get by and this is not something a person wants
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 08/01/2011 for the course ECONOMIC 101 taught by Professor Anewhouse during the Spring '11 term at University of Phoenix.

Page1 / 5

What People Do Not Know About Social Security Retirement Benefits

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online