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Social Security Essay

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Social Security has been around since 1935 and for generations many Americans have depended on these programs for retirement or in the event of permanent disability. Recent news articles lead Americans to believe that Social Security is in financial trouble that the taxes it depends upon to finance the programs for retirement, disability, and medical care soon will not be enough (Huffington post,2010). In part because of the large numbers of people reaching retirement age, this has left a large number of people wondering if they can depend on Social Security for retirement. The answer to this dilemma is not to rely on Social Security for retirement. Depending on Social Security for retirement is like risking everything on one endeavor.…show more content…
Americans must take the responsibility for their retirement into their own hands. The number of retired workers account for 69% of the total benefits paid out. The information on the fact sheet shows that 52 % of the workforce has no private pension another 31% has no savings plan (SSA.org). This means that 82% of the population could be without retirement funds available to them if Social security goes broke.
It would make more sense to plan for retirement by putting away funds in a retirement account or a savings account. This could earn interest over the years and make a nice retirement account. Most Americans want to live out the retirement years in the comfort and security of their own homes. Financial planning can turn this into a reality, making it possible for healthy retirees to stay in their home and not have to give up the possessions that they have worked so hard all their lives .
Recent news has shown that politicians want to shift the responsibility on the issue of Social security; no one can find a reasonable way to fix the problems that have come into the light (New York Times August 14, 2010). The politicians keep putting off the inevitable fact that someone will have to take the responsibility and face what years of neglect have caused. Depending on the government, for retirement is not an option that Americans can depend on, the governments own trustees are telling Americans that Social Security is not reliable as a retirement
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