Retirement

607 Words2 Pages

On top of all the expenses, the employees have to juggle in their life, retirement funds create the most stress. More and more people are delaying their retirement because they are worried they cannot support their life during retirement. With the life expectancy increasing, and health care expenses rising, retirement would jeopardize the stability of life. The increase of the aged population in the workforce also means that young college graduates would have a difficult time finding a job. In this memo, I have laid out some suggestions on how we can change to fit into the retirement industry in the future.
The cause of low retirement fund can be traced back to lack planning. Many people depend on their Social Security for their retirement. Every pays tub shows that the government taxes their salary. This encourages them to not save earlier in their life, often it is almost too late when they start saving. In an effort to help the unpreparedness, JP Morgan can have talks in different companies, explaining the employees on ways to plan their retirement. Even though this plan may not s...

Show More
Related

  • Roth IRA Essay

    3042 Words  | 7 Pages

    The push for Congress to pass legislation protecting the rights of employees and their retirement was inevitable. Retirement plans are extremely important for all working individuals. Having funds to keep or exceed ones current standard of living and to enjoy one’s life beyond expectations after retire...

    Read More

  • aged care

    1625 Words  | 4 Pages

    This essay will consist of different sources that explain the inappropriate behaviour an emergency Nurse’s response at handover due to a male patient who has been admitted into the Emergency Department in a dishevelled state. As a Registered Nurse assigned to care for this patient when handing over the patient’s care to another Registered Nurse, the nurse responds in an inappropriate manner; stating, ‘I really hate looking after old people – they’re all senile and they smell’. This essay will analyse the attitudes of the nurse and the beliefs that support such comments are improper thus leaving a significant impact on the performance and the nursing care for this patient.

    Read More

  • The Future of Social Security

    604 Words  | 2 Pages

    Social Security is a system that was set up in 1935 after the Great depression to help people get through tough times. "Social Security is now used by nearly 44 million Americans"(policy.com). Only people who payed into social security are eligible to collect when they retire. Many people think that they receive the money they pay in but that is not total true. The money that you pay in is used for the people that are receiving it now. "In 1950 there were 16 workers for every beneficiary; today there are only three workers per beneficiary"(policy.com). There is more money going into social security then coming out now. The extra money goes into a trust to be used when it is needed. By the year 2032 those numbers are going to drop. By this time most baby boomers will be retired and collecting social security. This will put a big strain on the funds. There will be more money going out then coming in. And it will not take long to use all the money that is in the trust. By the year 2034 they will only be able to pay 75 percent of the beneficiaries. "The projected average monthly Social Security benefit in 2032 of about 1,100 (in 1998 dollars) would fall to about $800, and would drop further in later years. Average benefits for low-wage earners would drop from $670 to $480"(www.ssab). Theses cut would effect the people just starting to receive benefits and those who are already receiving benefits. And with each year these benefits will decrease. As these benefits continue to decrease "the percentage of aged people living in poverty would rise"(www.ssab).Most people believe this is happening because of the baby boomers generation. There will be more people taking from social security then giving in. By the time my generation is eliable to receive social security there may not be any money to give.

    Read More

  • Simple IRA Essay Examples

    863 Words  | 2 Pages

    Through the years, people age and become less productive. For these reasons, they have to prepare some plans that help them secure their own future. But, there are instances that lead an individual to an early retirement. Some lack motivation and enthusiasm in their work. Others are not capable of working anymore as well because of the health issues that they are facing. Regardless of the reason, it is important that one has to work so that by the time they retire, they will not end up broke. Having this in mind, many people are already investing in a simple IRA.

    Read More

  • Social Security Argumentative Essay

    678 Words  | 2 Pages

    Social security, since instituted in 1935, has kept many elderly people from running below the poverty line (Hosansky). In 2015, the Social Security Administration predicted that the funds would be depleted by 2034 (Max). This poses a serious threat to the living situation of future generations when they retire. Our elderly, by today’s standards, enjoy a comfortable lifestyle. They are able to retire and still make over one thousand dollars a month. Some people also have private pensions which allow them to live even more comfortably. But with social security funds running out, we must ask the inevitable question. Is it worth having social security anymore? Social security should be kept. One must never fully rely on social security. In addition

    Read More

  • The Future Of Social Security

    1081 Words  | 3 Pages

    Many Americans depend on Social Security benefits--from retirees, disabled workers, and dependents. Furthermore, numerous retirees have not saved enough money for retirement through other sources, so they count on Social Security as their basic source of income during their later years. Recently, the number of persons receiving Social Security has increased dramatically. This is largely due to the increasing number of persons in the baby boomer generation retiring and also people living many more years past retirement age. This increase in beneficiaries has initiated concerns and questions about the future of Social Security for persons still working. Recent studies have shown that in its current trend, the surplus of funds for Social Security will be depleted in the near future as the increase of payments will begin to exhaust the fund’s resources. To that end, reform of some kind is needed to help sustain this benefit for future generations to come (Social Security Administration, 2014).

    Read More

  • The American Association of Retired Persons

    1824 Words  | 4 Pages

    in society, thus came about his idea to form the AARP. The AARP is a nonprofit,

    Read More

  • Disadvantages Of Raising The Age Pension In Australia

    952 Words  | 2 Pages

    The Australian government will increase the age pension from 65 to 70 by 2035(Australian Department of Human services [AU]). This announcement has lots of challenges for Australian people who are under 50; some people support the rise and find it beneficial for the future economical life. However, others are against the announcement as it has lots of concerns for their future plan, as they have to work longer to save more for their retirement. The current population ageing put pressure on the young workers who support retirees and their families, at the same time it affect the economic development. So the rise of pension has advantages and disadvantages on the future life standard of most Australians. It is beneficial decision from the government to provide a productive and qualified future life.

    Read More

  • Challenges of Health Care and the Aging Population

    1317 Words  | 3 Pages

    As the population of the United States ages and lifespan increases, the U.S. is being faced with challenges that could either hurt the country or benefit it if plans are executed correctly. By the year 2050, more than thirty-two million Americans will be over the age eighty and the share of the 80-plus generation will have doubled to 7.4 percent. Health care and aging population has become a great deal considering the impact it is having on the U.S. The United States is heading into another century with an outstanding percentage of people within the aging population. Today’s challenges involving health care and the aging populations are the employees of health professions being a major percentage of the aging population, the drive into debt, and prevention and postponement of disease and disability.

    Read More

  • The Importance of Financial Literacy

    631 Words  | 2 Pages

    Various researches can determine possible reasons as to why consumers have quite a lot of trouble making financial decisions that can be the most beneficial later in life. In the context of savings for retirement, conclusions from a test reveal that self-regulatory state, possible future orientation and more and better financial knowledge can and most likely will influence a consumers intentions for retirement investments, for example, setting up a 401K in the USA. Other studies suggest consumers who show higher amounts of future orientation are usually more likely to start up a retirement plan. Studies also show that financial knowledge and financial orientation toward ones future can help to influence the chances of one participating in a 401K plan.

    Read More

  • Aging

    1692 Words  | 4 Pages

    When we are young we never think about what we are going to be like when we are 80 or 90. We just think of the present. Aging is something almost everyone experience’s in their lifetime. Everyone ages at their own rate and time, thus no one has the same experience. Some theorists believe that as we age we become disengage from society, others believe it’s the choices we make that cause disengagement from society. It’s something psychologists have argued for a long time. There is not a lot of research done on how adults age because of participant drop outs for a numerous amount of reasons; for example health issues, death or forgetting about the study all together. Older adults do not choose to become disengaged from society; the choices they make are the ones that fit their personal lifestyle the best.

    Read More

  • Retirement Case Study

    933 Words  | 2 Pages

    Retirement is one of the most important crossroads we face in life. It involves a fundamental change in lifestyle, one that calls for a totally new outlook on how we approach each day. All our lives we have been conditioned to think in terms of saving for our retirement years. Society has created this mystique about this time in our lives when we magically transform into different people with different lives when really we are the same people with different day to day lives. According to Medina, (2012) planning for retirement isn’t a "walk in the park" because for many people, debts are high while income is low.

    Read More

  • The Importance Of A Personal Financial Plan

    1600 Words  | 4 Pages

    Developing a thorough financial plan is a process that comprises a comprehensive analysis of a particular individual’s financial position and their long-term commitment to apply and observe the set financial plan through one’s life. The plan includes but not limited to, how an individual spends, saves monies and invests his or her financial assets. It encompasses knowing how to budget, manage cash and taxes, borrowing of funds, the use of credit cards, minimizing risk, investing and planning for retirement. Such a plan also requires a vigilant thought process for the future so he/she can tweak their financial plans as needed due to changes in lifestyle and economy.

    Read More

  • The Plan for Retirement

    600 Words  | 2 Pages

    Allers, Kimberly Seals. "How Fit Are Your Finances?" Ebony 68.9 (2013): 93-97. Academic Search Complete. Web. 15 Nov. 2013. Bauer, Gabrielle, and John Southerst. "A promising retirement: your life, your way." Maclean's 18 Feb. 2013: 37+. Opposing Viewpoints in Context. Web. 15 Nov. 2013.

    Read More

  • The Importance of Retirement Planning?

    1249 Words  | 3 Pages

    Retirement planning is a way to insure that you will have enough income to live comfortably when you retire. Most people will be retired 25 years or more, and careful planning is the key to successful retirement. Why would you want to have bill pressures and mortgages when all you really want to do is relax, or follow that dream of traveling the country in an RV?

    Read More

More about Retirement

Open Document