Private Pension Plan
The Current Social Security system should be replaced by a mandatory Private Pension plan. There are different types of investment plans one could choose before or even after they retire. Social Security is what everyone depends on once they retire at 65. Some people may even need to work beyond the age of 65 due to the lack of money they receive from Social Security. With a Pension plan you are insured to receive the money you worked hard for and maybe even a little more, "Most pension plans are insured, but some of the smaller pension plans are not covered."(PBGC 1) One disadvantage about Social Security is that there is a limit on how much you can make each year, "the maximum social security retirement benefits for a worker retiring at 65 is $1,536."(SSA 1) If you collect over this amount of money you better be ready to pay the government back big time. Social Security and your Pension Plan come out of your check each week, but you get to decide where you want that Pension Plan to take you. Yo
http://ssa-custhelp.ssa.gov/cgi-bin/ssa/solution(30 October 2000) 1pg. You could invest your money into all different types of accounts for when you retire. There is the 401K plan, timeshares, mutual funds, Roth IRA, and Stocks. A good example of saving now would be, I have my own Pension Plan. I have what is called a Roth IRA. Which is, each year I put away $2,000 dollars in a special account for me when I retire. When I do retire I will have enough money to live comfortable and happy! A lot of people invest there Pension into a 401K plan, which is similar to the Roth IRA, "Employees who participate in 401K plans assume responsibility for their retirement income by contributing part of their salary and, in many instances, by directing their own investments. In a 401K plan, your account balance will determine the amount of retirement income you will receive from the plan." (PWBA 1) These are just some examples of the many investment plans there is to offer to the people of the country. http://www.pngc.gov/publications
Some common words found in the essay are:
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Approximate Word count = 698
Approximate Pages = 3 (250 words per page double spaced)
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