As a young adult, I think there is excessive importance placed on the availability of Social Security for people my age as we get older (“Young Adults Support Social Security,” JofA, Oct.99, page 13). More emphasis needs to be placed on saving our money for the time we wish to retire. If we were taught as children to put a certain amount of money into a savings account every week, we would not have this overwhelming expectation of receiving Social Security benefits.
Why does it seem that setting up an IRA is only for those who will retire from their jobs in the next 10 years or so? A worker or spouse should begin to put money into an IRA at an age when he or she will be able to save as much as needed to be comfortable at retirement. Those relying on Social Security to keep them financially afloat will be extremely disappointed when they retire. At that time they will discover they do not have enough money to provide them with the lifestyle they desire. Now is the time for young people to prepare themselves for the future and come to the realization that there may not be anything left for them 40 years down the road.