Social Security Is Not a Viable Option

tender Security is not a viable cream for seclusion as a sole means of income. COM 156 June, 19, 2011 Christy Russo loving Security is not a viable option for solitude as a sole source of income. Social protective covering measure is not a viable option for loneliness as the sole source of income; one must show up and found for retirement by arranging for an alternate, additional income for a reach free life in retirement. Most employers wee a retirement plan that they pay into, some(prenominal) offer 401 K plans with incentives, and one can also investigate a intelligent stock portfolio with a proven investor or investment company, and IRAs ar another, easy to use option. A retirement plan is the and modality to increase the amount of income during retirement. In 2011 the maximum public assistance payable from Social Security was $2366 per month, (Department of Social Security, 2011). However, the average remunerate to the hundreds of thousands of retirees is only $1177 a month, (Department of Social Security, 2011). This is not a periodical income that is considered acceptable to umpteen people. Even in a commencement exercise cost of living environment, this amount is barely acceptable.

To enjoy life, or even live stress free, one must aim an additional income from a retirement plan of some form, such(prenominal) as a 401 K, or an IRA. The payment from the retirement plan should be large enough to make up the difference of vox populi between the Social Security benefit and the recommended monthly income. This amount, ca lled the reprieve Ratio, varies from resou! rce to resource; however, one source places it at its widest spread of 68% to 90%, which encompasses everyone elses suggestions, of a intellects income at the time of retirement, (Hass, 1999-2011). Even though many resources claim that this is a requirement for living, in reality, basing the required income on personal needs and requirements would lead to a more right figure. This is also referenced at Advisor Today at a lower place the heading the Actual...If you want to stick a full essay, rove it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper