Social Security Is Not a Viable Option

tender Security is not a viable pickax for seclusion as a sole means of income. COM 156 June, 19, 2011 Christy Russo cordial Security is not a viable option for loneliness as a sole source of income. Social protection measure is not a viable option for seclusion as the sole source of income; one must read and found for retirement by arranging for an alternate, additional income for a reach free life in retirement. Most employers bring in a retirement plan that they pay into, some(prenominal) offer 401 K plans with incentives, and one can also investigate a proficient stock portfolio with a proven investor or investment company, and IRAs ar another, easy to use option. A retirement plan is the and route to increase the amount of income during retirement. In 2011 the maximum public aid payable from Social Security was $2366 per month, (Department of Social Security, 2011). However, the average touch on to the hundreds o f thousands of retirees is only $1177 a month, (Department of Social Security, 2011). This is not a monthly income that is considered acceptable to many another(prenominal) people. Even in a starting cost of living environment, this amount is barely acceptable.

To enjoy life, or even live stress free, one must maintain 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 faith between the Social Security benefit and the recommended monthly income. This amount, called the support Ratio, varies from resource to resource; ho! wever, one source places it at its widest spread of 68% to 90%, which encompasses everyone elses suggestions, of a instincts 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 righteous figure. This is also referenced at Advisor Today at a lower place the heading the Actual...If you want to detect a full essay, rove it on our website: OrderCustomPaper.com

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