Budgeting, Whether For The Household Discussion Chapter

PAGES
2
WORDS
745
Cite

If we take the former approach, we must now combine men and women together demographically; women now work far more outside the home than they did in 1935. According to the United Nations, this is now roughly 80 years, meaning the retirement age should be pushed to 70, allowing 5-8 more years of pay ins, and far fewer years of pay outs (World Population Prospects, 2006). In addition, if we follow the original mandate, Social Security is a supplemental or emergency program, not meant for those who do not need it. So, if we take a two-pronged approach; moving the retirement age to at least 70 and recategorizing those who take retirement benefits based on their savings and investment programs, we are in more of a fiscal position to tweak the system already in place. While this may seem unfair to some, if we think about it logically, those "baby boomers" who have had a longer time for earning at higher wages have had the opportunity to place more assets into retirement. If the GAO finds that it takes, on average X dollars to live after retirement, and their portfolio is worth 5-10 times that much, they can perhaps not qualify for Social Security without it becoming a hardship. Yes, they paid into the program, as well as...

...

Contrast that with a member of the working-poor who has not saved and works until 70-72, just to survive. This is the level of the population that the program was intended for. However, if this is not the way we wish to view the program, and we want it as more of a long-term savings program, then we should revamp it, change the investment strategies and structures, and align it more closely with a sliding scale of income, ensuring that there is a balance between intake and output (Gale, 2010).
REFERENCES

"Life Expectancy for Social Security," (2010). Social Security Office. Cited in:

http://www.ssa.gov/history/lifeexpect.html

"World Population Prospects -- Highlights." (2006). The United Nations Office of Economics and Social Affairs. Cited in:

http://www.un.org/esa/population/publications/wpp2006/WPP2006_Highlights_rev.pdf

Gale, W. (2010). "Raise the Retirement Age Again." In Simple Steps to Fix Social

Security. The New York Times. Cited in:

http://roomfordebate.blogs.nytimes.com/2010/03/24/simple-steps-to-fix-social-security/

Sources Used in Documents:

REFERENCES

"Life Expectancy for Social Security," (2010). Social Security Office. Cited in:

http://www.ssa.gov/history/lifeexpect.html

"World Population Prospects -- Highlights." (2006). The United Nations Office of Economics and Social Affairs. Cited in:

http://www.un.org/esa/population/publications/wpp2006/WPP2006_Highlights_rev.pdf
http://roomfordebate.blogs.nytimes.com/2010/03/24/simple-steps-to-fix-social-security/


Cite this Document:

"Budgeting Whether For The Household" (2011, February 14) Retrieved April 24, 2024, from
https://www.paperdue.com/essay/budgeting-whether-for-the-household-4851

"Budgeting Whether For The Household" 14 February 2011. Web.24 April. 2024. <
https://www.paperdue.com/essay/budgeting-whether-for-the-household-4851>

"Budgeting Whether For The Household", 14 February 2011, Accessed.24 April. 2024,
https://www.paperdue.com/essay/budgeting-whether-for-the-household-4851

Related Documents

Certain specialists in the field have agreed upon the two most important principles that the budget, whether it is a governmental or corporate one, should follow. One of the two principles consists in the fact that the budget should be designed as a tool for planning and monitoring (Andrews, 2007). Similarities between the Federal Budget and the Corporate One As mentioned above, the two types of budgets are very distinct in areas like the development process, budget

Psychology, Financial Decision-Making, and Household Management Reason for Selecting Subject The reason I chose this subject is that in the recent times, the aspect of financial education and understanding has become a contentious and significant one. Its importance has been realized largely because there is increasing intricacy of financial products and also the increasing accountability and liability of people with respect to their own financial well-being. It is imperative to note that

The main purpose of this research study is to understand the psychology of decision-making and management of households with respect to Arab students living abroad. The study will take into consideration the impact of the difference in culture and also the influence of such culture in dealing with bank interest. The research model used in this study is the addition of a moderating variable. The data will be collected through

yearly budget is an integral step in the administration of the criminal justice system in the United States. The budget is the source of funding for all programs and agencies administered through the Justice Department and the success or failure of such programs is dependent upon the budgetary process. This paper will assess how public policy affects the budgetary process and how each the Executive and Legislative branches of

Hyde reported, however, that part-time professionals tend to accept negative perceptions as part of the territory; they are often willing to accept their marginalised status when they are voluntary part-timers. It is a trade-off they are willing to make for the reduced schedules they choose for whatever reason. Unfortunately, flexibility for the part-time employee may not always be viewed as flexibility from the viewpoint of the employer. With respect to

While a cut down in budgets is inevitable, however, libraries should also try to increase their revenues. This can be achieved by promoting more subscriptions and grants through increasing dependency on technology (Budd 2005). A library might be able to attract grants if it goes digital. The director or management can make a presentation to convince the relevant authorities about how their grant will increase the library's productivity. This will