If I want to retire when I reach 65, I'm on my own financially. As I should be.
America is currently almost $18 trillion in debt, well over the debt ceiling set at $17.2 trillion just earlier this year. Not so far off is the day when the ceiling cannot just be raised and real cuts will be made. Eventually, social security retirement checks will not be sent out. Since I'm 49 years away from average retirement age, there is no doubt in my mind that day will come before I reach 65. But I view this as a good thing.
The social security fund provides some more essential programs, like financial aid for the disabled, but, on the whole, social security provides an average sum of $1,224 per month to retired individuals. Overall, the social security fund used $1.2 trillion in 2012.
Set up by President Franklin D. Roosevelt in 1935, the social security organization generally takes a percentage of what you make and puts it into the social security fund. The money in the fund is then distributed largely to retirees. Basically, the government forces you to make a retirement fund for yourself and gives some of your money to those less able to make a retirement fund.
While I support many welfare projects, social security's main output is a ridiculous governmental involvement in a private affair - a retirement fund. As someone of the younger generation who will not benefit for social security checks, I am responsible to set up my own retirement fund if I want to retire. The government does not force me to set up a college fund or living arrangement fund. Why should it be in charge of my retirement fund?
While social security does some good things, it is largely a waste of taxpayer money
1 comment:
I really like this post. You make a great point about the current generation's unfair position with Social Security. I don't think people realize how Social Security affects them. They pay the tax, believing it will eventually help them when, most likely, it won't. And even if it does, the average you give of $1224 a month shows how little it would actually do.
I think the links and data you provide solidifies your argument, making it credible and persuasive. I also feel the strong voice in your writing will help you connect to and convince your audience. Your writing looks fantastic; no flaws, as far as I can see. I realize you think a retirement fund is somewhat useless, but we can both acknowledge that it's something that some people need to keep from working until the day they die. I think adding some information about a different, more beneficial program that could help retirees would improve your post. Or if there isn't one, to suggest a different way of collecting retirement money for underprivileged retirees. Or do you think retirement funds should be set up in a different way to make them completely available to all?
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