Social Security and the Downfalls of Early Retirement Essay

Social Security and the Downfalls of Early Retirement - Essay mannikinAs a means of providing a veritable level of financial assistance to those who have entered the later years of their live, US President Franklin Delano Roosevelt, in one(a) of his acts as commander-in-chief, enacted a social help doctrine that would be commonly known as Social Security.The importance of Social Security is not wooly-minded among people. The program in which benefactors are able to received a certain amount of financial help each month after a certain age which is supposed to be comparable to the amount of earnings that the person would have been into the system over the lifetime in which they were working. As many of the bobble boomer generation begin their approach to retirement, there is a great concern amongst many people as to how the Social Security system give ultimately handle the influx of new retirees as they filter in. Some wish to retire early, while others are determined to mainta in their status as working individuals to the median age of retirement, or the common age in which many people choose to not work anymore. As it stands, the current health of the Social Security system is at a point in which there is great concern when it comes to the amount of beneficiaries there give be in the near future. With such being the case, the level in which the system can support both current, as well as future retirees, is something that has many answers to it and great implications for the ultimate outcome.A question for a great many people is to whether or not they are able to retire early and as such draw upon their benefits. The following can become very trueSocial Security for early retirement is a complicated issue. Since many countries cannot offer important financial support for retirement, this indicates that a personshould save money early to be prepared and become financially secured as he or sheretires from work. contrary to popular belief, the Social S ecurity never intended to bethee only source of income for retired people. For this reason, weighing the pros andcons of social security for early retirement is important to transform your rights, benefits and limitations so you could invest in other pension plans to support yourretirement. Over fifty years ago, life expectancy of a person who started earning incomearound 20 years old was at age 68. Today, the life expectancy of that same 20-year-oldwho started earning is at around age 78, which continues to rise. For this reason, the earlier you save money for retirement, the greater benefits you will receive once youretire. (Understanding, p.1).To decide how best to go about retiring, whether it being to do so early or at the age in which is considered to be common, an important thing to keep in mind is to observe and consider whether or not the Social Security system would be resolvent enough to provide enough benefits to help beneficiaries in their later years. Essentially, to retire early means a less amount of benefits that will be acquirable at the end of the retirees life, with those benefits having been used to care for the person when they sought to leave the work