4.6 RETIREMENT CALCULATOR.
The retirement calculator was an eye-opening experience. I kind of chuckled when I saw the results. At this point in my life I am no where near ready for retirement, but I do not have enough time to prepare the old fashion way. Retirement is so important but when I was younger, like my early 20’s, retirement was the furthest thing from my mind. I have worked steadily since I was 16 years old and even before that I would help my aunt and parents on occasion filing and helping with some clerical work, they needed done but nothing that prepared me for my future. The first strategy to prepare is finishing by bachelor’s degree, second is getting a good job that will help pay into my retirement and third, invest in some rental properties and save most of my earnings from here on out. I am too old now to just let my paychecks be enough that I need to have something else to help supplement my retirement income or just continue to work until my last day on earth comes.
4.2 INVESTMENT MATCHING GAME
4.7 SOCIAL SECURITY REFLECTION
Social Security is a program that was started by the Federal Government to help take care of us if we become disabled due to illness or accident or when we retire and need Medicare. We are all issued a social security number when we are born, and we start paying into our social security account when we start working and continue until retirement.
In order to qualify for social security benefits, we must accrue 40 credits according to Investopedia.com. The amount we receive is based on our earnings history, birthyear, and the age we start to claim Social Security” (Kagan, 2019). Also, Kagan said that those who do not work in order to accrue those credits receive them from their spouse.
According to Public Opinions on Social Security (Public Opinion on Social Security, 2013) most Americans agree there needs to be an increase on social security withholdings in paychecks. According to this public opinion poll, 73% of respondents agreed they don’t mind paying Social Security taxes because it would help support parents, grandparents, or other family members if they didn’t receive Social Security. This is a natural thought process because it is the reality for most of the working class.