Student Retirement Research Paper

Improved Essays
Everyone knows someone who is retirement age of 65 or older, they may even be a grandparent or a close family friend. A majority of these people have worked very(exceptionally) hard and deserve what they have (been working for when retirement years begin.) waiting for them when they retire. While most people who reach the age of 65 are ready to settle down, some of them just simply can’t save(due to their inability to practice saving habits in their early life) because of their savings habits in their lives. Most college students don 't realize that their well being(in later life is based on) in retirement is based on what they save while they are between the age of 20-30. In an interview with Michael Armour, a financial planner, he simply …show more content…
If a student was to walk into on of the financial planning places and sit down with a consultant, they would draw a plan that 's very simple. Financial Planning in Hutchinson, KS recommends that someone coming in has some kind of savings developed before they start a retirement savings. (Armour) They also require that their clients are financially stable.(Armour) What this means is clients coming in need to be established and have budgeting skills instead of living paycheck to paycheck. By having these skills when they walk in I makes the process very easy for both parties involved. Another way for young people to prepare themselves for the future is taking advantage of employers retirement plans. The average college student probably hasn 't had the chance to take advantage of one of these plans. I When they get a job in their field it is highly recommended they take advantage of these programs. Most employers have some very good retirement plans available. At some places the employer will match every dollar the employee put in with 50 cents and sometimes even a dollar. While this type of retirement plan is becoming harder to find, a lot of places still have or recommend a 401k type of account. With using a work placed 401k plan only experts say that there will still not be enough returns produced for clients

Related Documents

  • Superior Essays

    Perk Job Benefits

    • 1365 Words
    • 6 Pages

    Having a college degree is very important. Itcan be so rewardful not only to the person who obtained it but also to the company which givesyou more and more beneficial to you. College graduates are less likely to be laid off or firedfrom their job because they have experience and paid for their college degree. It is not for sure,or guarantee, but if you have college education you are less likely to get unemployed in thefuture of you jobs. With a college education you will also most likely enjoy your job.…

    • 1365 Words
    • 6 Pages
    Superior Essays
  • Great Essays

    Some even have to find jobs while studying taking away valuable time from a student’s time to study. There have been many studies that find the primary reason young people don’t attend college is due to its huge cost. In the 1990’s most college students did not need a loan to afford their education, however now almost three out of four college graduates have borrowed to pay for college, with debts…

    • 1488 Words
    • 6 Pages
    Great Essays
  • Great Essays

    It can help make a decision, it can put extra money in their account and even make college just a bit cheaper. According to work.chron.com, there are six advantages to working after high school, “It gives you a chance to save up some money. It give you experience and a chance to learn new skills. You can see first hand what is out there for work and what job fits you the best. It can even prepare you for the classwork you may receive and if you are a good employee, some companies may offer to pay for your college tuition.” As a high school student, one may want to avoid working but the reality that needs to be faced is that one needs to work to capture their dreams, whatever they may be.…

    • 1880 Words
    • 8 Pages
    Great Essays
  • Improved Essays

    Student Debt Essay

    • 1168 Words
    • 5 Pages

    While saving money in high school is still helpful, some students will still need help paying for their junior or senior years of college. “Nearly 4 out of 5 college students are working part-time while studying for their degrees, averaging 19 hours a week, according to the survey, but just 18% pay their way through school” (Kingkade). Statistics show that even with saving, sometimes it is just not enough to pay for the education. College is extremely expensive and, at times, can seem like a financial scam. That is why it is such a good idea to start saving at a young age or even better if student 's parents ' begin a…

    • 1168 Words
    • 5 Pages
    Improved Essays
  • Superior Essays

    Finally, if you are struggling do not wait till it’s too late, most student loan servicers are willing to work with you and deferment can be an option if needed. So managing student loan debt shouldn’t be scary, chances are your fellow students are in the same situation. Pursue your education now so you can be successful in the…

    • 1058 Words
    • 5 Pages
    Superior Essays
  • Superior Essays

    Student Loan Debt

    • 1591 Words
    • 6 Pages

    Many people in this world put it off like it is not an issue, or because they forget there even is an issue with student debt. “For faculty, staff, and administrators, it’s easy to forget just how much debt students have to take on today. The numbers are simply astounding. According to the Web site FinAid.org, which cites the National Postsecondary Student Aid Study of the U.S. Department of Education’s National Center for Education Statistics (NCES), nearly two-thirds of students graduate with some sort of debt” (Brown; 57). One of the main issues for this is the fact that college tuition keeps rising for an extended amount of reason.…

    • 1591 Words
    • 6 Pages
    Superior Essays
  • Improved Essays

    Just because someone comes from low income housing should not limit that individual to pursue a college education. This would result in an overall educated society with an increase in competition. Providing this to everyone, society as a whole would see a reduction of crime possibly, due to everyone being within a classroom versus them being out in the streets doing things they aren’t suppose to. Education should not be a debt sentence. Free college would provide…

    • 1072 Words
    • 5 Pages
    Improved Essays
  • Superior Essays

    Taking the time off could also financially prepare young adults to deal with tuition and other bills. This as well helps them mature by taking on responsibility on their own and not having it thrown in their faces. Each individual matures at a different rate, allowing and helping support gap year shows respect and support for the students and in return they will be more committed to completing a degree program. Overall, gap year is the best way to go for everyone. Gap year has already been accepted in other countries and has had a positive effect.…

    • 1278 Words
    • 6 Pages
    Superior Essays
  • Superior Essays

    Internships have been a great way of getting connected with a job a person might apply for in the future. Internships can also save ones time by experimenting in different career fields and gain a lot of experience from working there. According to a natural survey by vault up to 84% of students planned to complete at least one internship before graduating and some will require to do internships to receive college credit. There is a lot of debate on if internships should pay students or not pay students. Internships should pay people because it will help students with lower income, won’t leave employees exploited, and saves students from sacrificing time.…

    • 2148 Words
    • 9 Pages
    Superior Essays
  • Superior Essays

    Student Debt Causes

    • 1036 Words
    • 5 Pages

    With making around $51,000 a year right out of college, little of it can be spared for paying off their debt. By focusing on things such as taxes, housing, and general day to day spending, putting money aside for paying the debt off can take a long time. purchasing a home is often high on the graduates list of things to do. Although many try, few are able to succeed due to the fear of increasing their debt. According to research by the Federal Reserve Bank in New York, few 30 year olds have purchased homes now since the recession in 2008 (Payne 2).…

    • 1036 Words
    • 5 Pages
    Superior Essays