Personal Finance RETIREMENT
SWBAT assess the financial realities of retirement. LESSON OBJECTIVE
Retirement Having left one's job and ceased to work. (of a place) Quiet and secluded; not seen or frequented by many people. WORD OF THE DAY
How long do you expect to work for? What will retired life be like? INITIAL ACTIVITY
Social Security Act, 1935 Limit dangers in America: old age, poverty, disability, widows, orphans Title XVIII of Social Security Act, Medicare Health insurance for 65 or older regardless of income or previous conditions RETIREMENT
Is it the governments responsibility to limited the dangers of old age? Do you believe that the elderly in America today require support similar to the elderly during the Great Depression? Share Out RETIREMENT: QUICKWRITE
Focus Questions: How have Social Security payments affected different socio-economic groups in America? Read Social Security- A Pillar of Retirement Income 1. Describe the relationship between social security of the bottom 25% of American income earners. Why has this relationship developed in this fashion? 2. Describe the relationship between social security of the middle 25% of American income earners. Why has this relationship developed in this fashion? 3. Describe the relationship between social security of the top 25% of American income earners. Why has this relationship developed in this fashion? Share Out ACTIVITY 1: JIGSAW
Focus Question: How has retirement changed for Americans? Read Workers Saving Too Little To Retire How has a change in the life expectancies affected the traditional retirement plans for Americans? How could the inadequate retirement savings of Americans affect you in the immediate and also in the long term? Share Out ACTIVITY 2: INDIVIDUAL
Discussion: “You must rank me and all my colleagues as strong partisans of compulsory social insurance for all classes for all purposes from the cradle to the grave.” – Winston Churchill, 1943 Does government have the responsibility to financially provide for the well-being of its citizens? SUMMARY
Is it the governments responsibility to limited the dangers of old age? Share Out RETIREMENT: TURN & TALK