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Social Security and Retirement: An Uncertain Future Essay

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A failing Social Security Retirement program glimmers like broken glass on the horizon. Unfortunately, many people are relying on this program for their approaching retirement needs and by doing so add uncertainty within their future. Misconceptions pertaining to the program are widespread, and require further examination. Two questions may single out whether one has a false impression of the role of Social Security and retirement. First, was Social Security meant to be the only source of an individual’s income, and second, are the taxes paid today saved exclusively for an individual’s future retirement? According to a brochure from Social Security Online, (Understanding The Benefits, 2010) the answer to both questions is no, therefore …show more content…

The financial instability of the Social Security program is nothing new, as the program relies on the economy. The workforce pays taxes to provide benefits. A positive workforce equals a surplus, as any extra taxes not required for current benefits are reserved. The working people support the program, therefore when people lose jobs less money is available for the program. The number of people entering their retirement is climbing, while the economy is struggling. Individuals who enact upon a plan for their retirement needs avoid the instability of the program, therefore taking control of their future. For many people, retiring will eventually become part of their future, so by taking back control they achieve peace of mind. A program does not feel the pain associated with losing everything an individual gained throughout his/her lifetime. A program may claim to sympathize, but in the end, the one who suffers is the individual. Taking control of retirement now, as opposed to later or never, resolves a crucial element of the future, because planning allows an individual the tools to fix a problem before the individual confronts the problem.
According to the (U.S. Census Bureau, Federal Budget Debt, 2010) national debt is climbing at an unprecedented level never seen before. Reflecting on the data should substantiate the need for planning. The

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