Social Security Benefits Final Essay

Social Security Benefits Final Essay - Social Security...

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Social Security Benefits Social Security Benefits Randy Metris II COM/156 10/9/2011 David Mohr Understanding the benefits of Social Security, in the United States, to see if we need to learn about alternative retirement plans, and is Social Security enough to cover our needs to retire, with many issues and concerns with Social Security. Their concern of worrying about being able to afford their retirement and what age they are eligible for full benefits through Social Security. It is said that the more things change, the more they remain the same. There are two generations that have had to deal with the concerns of retiring and being able to afford it. In the eighties, the nation faced a serious retirement challenge. Social Security estimated that there were unfunded liabilities of about six trillion. There were worries of whether the workers in that generation would be able to afford their retirement. Then, flash forward to the present time of 30 years later. The headlines discuss the shortfall of five trillion in Social Security and there are concerns of this generation being able to pay for their retirement. The generation of today has more concern because of the lack of a large group of workers whose contributions can pay for retirement benefits. Also, there are no generous pension plans or no other guaranteed income sources; like the 401K that depends on the market when you retire. That could be bad if the stock is down a retiree can lose out on money or stay working. They are a thing of the past and with extended lifespans and the costs of health care, retirement security is threatened. One
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This note was uploaded on 04/07/2012 for the course ETH 125 taught by Professor Jackiesmith during the Spring '12 term at American Jewish University.

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Social Security Benefits Final Essay - Social Security...

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