Relying on Social Security Equals Disaster

Relying on Social Security Equals Disaster
Mary Ferino
COM / 172
August 22, 2011
Michael Cummings Jr.

Com172 Relying on Social Security Equals Disaster                     Mary Ferino

Thesis statement: Americans should not rely on Social Security.
Many Americans rely on Social Security benefits when it comes time to retire. Despite the common knowledge that Social Security and company pensions may not be available for Americans when they approach retirement age, many still plan to rely on Social Security as significant source of income when planning for retirement. All professional working Americans should not solely rely on Social Security benefits for retirement income. This paper will inform Americans on how important it is to plan a retirement; and this paper contains a variety of information on the different retirement options available to Americans when planning a successful retirement.
If Social Security benefits are available when one retires, the benefit amount would be less than one would have made in their working days, making money tight and raising the poverty levels in the elderly community. There have been many positive accomplishments Social Security has had on the retirement community. According to congressman, XavierBecerran. (2011), “Thanks to Social Security and the improvements made to it over the years, “the poverty rate for elderly Americans has dropped to 10%.   Paying average monthly retirement inflation protected benefit of $1,164 Social Security serves as a modest, yet solid guard against poverty for most retired Americans” without any other retirement plans, but these funds are not guaranteed. It is not wise for Americans to rely exclusively on Social Security. The vision of Americans acquiring Social Security is a dignified alternative option, but when it comes...