Should Retirement Be Discontinued Why Or Why Essay

At what age should a person retire? What level of activity is reasonable for society to expect of retired individuals? Given the changing demographics of the United States, should retirement be discontinued? Why or why not? At what age should a person retire? The decision to retire, and at what age is not one to be taken lightly. Each individual has to make this decision based on a number of factors. In an article, Martin, R, Beach, S (2012) reported that retirement is a decision that the so-called, â€Å"baby boomer,† will have to make soon. The baby boomers are those individuals that were born during the years 1946 and 1964, and would reach age 62 by 2008. They reminded us that this is the stage that this group can become eligible for Social Security retirement benefits. In the paper, the authors felt that the main consideration for retirement is whether one can afford to maintain a reasonable standard of living and the best quality of life for the retirement period. In making, this decision one must bear in mind that people are now living longer than before. Because people are living longer, they must have the income needed to live during this retirement period. In making this major decision, the authors explained, that the indi viduals must also factor in, the motion of continuing to work, and if they do, they will have to bear in mind that any income gained over the amount of $14,160 per year while receiving Social Security retirement benefits. Will see a reduction by $1Show MoreRelatedAuditing: Effective Internal Control1300 Words   |  6 PagesOut of Class Portion Due Monday, April 30, 2012 1. Listed below are four interbank cash transfers, indicated by the letters a, b, c and d, of a client for late December 20X1, and early January 20X2. 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