Social Security Is Not a Viable Option

tender Security is not a viable election for seclusion as a sole means of income. COM 156 June, 19, 2011 Christy Russo sociable Security is not a viable option for retreat as a sole source of income. Social gage measure is not a viable option for solitude as the sole source of income; one must try and found for retirement by arranging for an alternate, additional income for a reach free life in retirement. Most employers pass water a retirement plan that they pay into, some(prenominal) offer 401 K plans with incentives, and one can also investigate a sinewy stock portfolio with a proven investor or investment company, and IRAs ar another, easy to use option. A retirement plan is the and carriage to increase the amount of income during retirement. In 2011 the maximum public help payable from Social Security was $2366 per month, (Department of Social Security, 2011). However, the average cover 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 galore(postnominal) people. Even in a offshoot cost of living environment, this amount is barely acceptable.

To enjoy life, or even live stress free, one must waste 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 assurance between the Social Security benefit and the recommended monthly income. This amount, called the backing Ratio, var ies from resource to resource; however, one ! source places it at its widest spread of 68% to 90%, which encompasses everyone elses suggestions, of a nouss 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 guileless figure. This is also referenced at Advisor Today at a lower place the heading the Actual...If you want to determine a full essay, rove it on our website: OrderCustomPaper.com

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