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Sociology

Would this be enough money?

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Go to the Social Security website and calculate your potential monthly payout: https://www.ssa.gov/OACT/quickcalc/ To fill in the calculator you will want to figure out what kind of salary you might earn with your future career if you aren’t currently in the workforce. You can use websites like glassdoor or payscale to get this number. You will want to figure out when you plan to retire (at 62? 65? 70?). If you are under the age of 22, just put in a different birthdate to pretend you are filling this out in your mid-20’s (it won’t work with birthdates under the age of 22).
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– Enter in a few different scenarios in the calculator and compare the numbers. Reflect on what you learned. Would this be enough money? Can you retire when you want to? Would working a little longer help a lot?
– · What other avenues of savings, pension, retirement, etc… do you plan to use to ensure you can be financially stable? Are these decisions influenced by what you see your family/parents/grandparents doing regarding retirement?
· – Does this calculation make you concerned about the well-being of older adults in our country? Do you think SS is sustainable? What should adults do to prepare for aging to supplement SS? Any useful articles or books you recommend?

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