Retirement

Difference between IRA and 401(k)-
Ira- a private investment funded solely by your own money.
401k-is offered through your place of work and involves your contributions and often contributions from your employer

Social Security- government program that provides economic security to people who are retired, unemployed, or unable to work. The U.S. Social Security program was established in 1935 and its funds come from employers and employees.were i found definition

Why a big deal now-  50 million Americans depend on Social Security, and it gives many benefits to people.  The big issue lately is that it faces a 5.3 trillion deficit over the next 75 years!  Social Security is funded by the payroll taxes of current workers to pay the benefits of current retirees, but because of the recession the programs costs aren't sustainable.  Another issue is that in 2016 the "baby boomers" will be retirees and will be putting lots of pressure on Social Security.
Freezing money?!?!

Personal savings and Social Security??  Many people are afraid that social security isn't going to be there for them when they retire so people are saying that we need to be extra concious on our personal savings so that if we don't have social security to fall back on that we have our own savings. 

Start retirement funds now!!  People usually don't think about starting a retirement fund till after college and once they have a career but we need to change that up!  The sooner people start retirement funds the more money you can have when you want to retire.  Once out of high school people should start some sort of savings and put any kind of money in it every month.  The earlier you start the better!!
video about negative social security