The Benefits of Retirement for those Who Plan

Essay by EssaySwap ContributorUniversity, Bachelor's February 2008

download word file, 12 pages ( 17 KB ) 5.0

Retirement sounds great right, you just can?t wait until that day comes when you don?t have to worry about traffic on the way to work, or if your boss is going to hassle you for that simple mistake you made yesterday. Well there are some things you should know about retirement, like for instance financing your retirement is not going to be easy. As it is today no one person can live off what the government sets aside for each of us when we hit the major milestone in our lives known as retirement, also known as 65 years of age. So, you sit there and ask yourself what can I do? Plan, and do this by putting your faith and money into accounts handled by people who know what they are doing, because if you don?t make money they don?t make money. These different accounts are 401 (k)?s, pensions, IRA?s, and the lovely and faithful social security.

There are plenty different types of retirement funds it is up to us as a society to use them to our best abilities and capitalize off of them.

In a time where people are living longer than ever retirement planning is one of the most important items of business a person deals with in their lifetime. The U.S. elderly population (people age 65 and older) tripled to about 34 million between 1940 and 1995. This group is expected to reach 80 million by 2050, according to U.S. Census projections. Using those numbers, today's elderly make up about 13 percent of the population, up from only 7 percent in 1940. The average life expectancy for a male is 74 while females can expect to live to age 80. This means that a person can expect to live 10 to 15 years while in...