Week 9 Discussion 3 FP101

Week 9 Discussion 3 FP101 - especially if Social Security...

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As employees or employers, in the United States, we are required to pay Social Security taxes. The money that goes to these taxes is then provided to the people that are retired, disabled, or otherwise eligible. I pay Social Security taxes, and I am looking forward to retirement. However, I do not plan on just living off of Social Security when I retire. As well as receiving Social Security benefits when I retire, I will fit a separate retirement account into my plan. Doing this will result in a higher payout when I retire,
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Unformatted text preview: especially if Social Security benefits no longer exist in the future. I am worried that social security benefits will have trouble paying full benefits in the future. In order to ensure that I will have money when I retire; I will set up a retirement account (preferably a Roth IRA), so I will not worry so much about retirement. It is never too early to start saving for your retirement, but it can get too late, so I am going to start up an account as soon as possible....
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