In the United States, We Do Not Have to Plan for Retirement

In the United States, we do not have to plan for retirement. Social Security will cover our needs when

we are retired.

Final Paper

Donna Sorrentino

Com/156

August 30th, 2010

Mr. Leonard Dubas

Axia College of University of Phoenix

Most people have a preconceived notion on how and what Social Security was suppose to do

for all citizens. We all must take control of our own retirement. Even though people do not save

their money anymore and rely on the government for more handouts to get by, most citizens worked

and saved their money until they passed on, they made sacrifices to better their future, and passed on

an easier path for their children.

We should not rely on living comfortably on social security because it was set up to give the

people in the depression something to look forward to, and it was a supplement to the money a

person saved for when they could no longer work. Most people have a preconceived notion on how

and what Social Security was suppose to do for all citizens. The American people believed that Social

Security was an insurance premium just like any other insurance policy. Insurance was well regarded

by the American people in the 1930’s. These insurance companies held strong throughout the years

of the depression and continued to payout on claims. It is been well documented that the American

people were sold on Social Security as an insurance policy and that it was not a form of taxes.

Most Americans in the 1930 had owned their home and/or land outright. They had no

mortgage payments to make, if they should have a mortgage they did have an insurance policy to

cover the mortgage if the husband should die before the balance was paid back. The policy covered

just the remaining amount owed to the property. The family would save their money, plant vegetable

gardens, and did whatever work they could to pay for the cost of what they could not grow, or make

for themselves. This is how the...