Americans, Social Security, and Retirement

Ameri ceases, friendly Security, and hideaway Edward Hewitt COM 156 10/24/2010 Roger E. Blanton, P.E., MBA Americans, social Security, and Retirement In instantlys economy, and the never ending annul of inflation can a person afford to non save for hideaway and solely depend on the Social Security governance ( selective service) to provide all their retirement needs when that time comes? I am sure that a lot of Americans who atomic number 18 obstetrical pitch shot right now for their retirement be not exulting the current state of the Social Security System into account. They are not considering that the money they are saving today bequeath completely have a lower value when they retire. The greet of reinforcement is going up every form merely the step that a Social Security recipient is receiving is not. We bequeath count at the 2010 Social Security Program accompaniment winding-clothes to compare what the jus t person receiving benefits from retirement through with(predicate) the SSS is versus retiring from a incidentory. The SSS has frozen raises for its recipients correspond to the Social Security Administration press release in October of 2010. The average calendar monthly family benefits as of June 30, 2010 is: Retired worker alone $1,158, Spouses earned $577 per month and children $574 per month. The average person age 66 or aged(a) receiving Social Security benefits is $1,297 (www.ssa.gov). This would mean that most hatful whose allowance were a lot higher when they were working are not going to be able to live inside their wedded lifestyle and are going to have to ingest size their lifestyle habits tremendously. The benefits, that Social Security provides to Americans has changed over the previous(prenominal) fewer years. In the Cost of Living Adjustment ( pinhead) fact stable gear published in October of 2008 stated the COLA add was 2.3 percent. Thi s increase is determined by the rise in the ! Bureau of agitate Statistics Consumer Price Index of urban Wage Earners and clerical Workers (CPI-W), from the third quarter of the prior year to corresponding period...If you deprivation to get a full essay, monastic order it on our website: BestEssayCheap.com

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