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What is Social Security? Discuss how it fits into your retirement plan. There are concerns that Social Security may have trouble paying full benefits in the future. Why does this matter to you now?
Weegy: Social Security is likely the most debilitating chokehold that government enforces on people’s lives, by taking one of the largest bites out of your paycheck. In simple terms, [ what Social Security boils down to is the government recognizes that it is unlikely that you will save for a rainy day, so they’ll do it for you, whether you like it or not. Unfortunately, there is considerable truth in that people don’t save for retirement. The implementation of Social Security also drastically highlights the difference between the Aristocracy (Congress) and the peasants (us), because Congress doesn’t use the same Social Security System to cover their retirement – oh no, they have voted themselves a much grander plan, and they don’t even pay for it. Who could ask for better? I’ll explain that disgusting situation at the end of this chapter. What is Social Security? ] (More)
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Asked 1/14/2013 12:36:52 AM
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Discuss the type of financial needs you will have at retirement age. How important is retirement planning to you now? How important do you think it will be in 10 years?
Weegy: There are many financial needs that will arise when you reach retirement age. Medical costs tend to increase dramatically in retirement, as most people consume the vast majority of their lifetime medical needs during the later portion of their lives. [ Other costs can include mortgages or other debt, costs associated with travel or retirement leisure activities, and basic costs of living. ] (More)
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Asked 1/14/2013 1:05:48 AM
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Which of the following is not typically a major source of retirement income? A. employer-sponsored retirement plans B. inheritance C. Social Security D. employment income
Weegy: Inheritance is not typically a major source of retirement income. (More)
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