Retirement

     Both IRA’s and 401k’s allow people to save up for their retirement. 401k’s are considered traditional because they are sponsored by the employer so employees choose an amount of their paycheck to have put into their retirement fund that is managed by the employer. An IRA  provides tax advantages by allowing individuals to place money for their retirements into an account with a life insurance group.

     Social Security: a tax funded program that provides retirement funds to those who are retired but do not have sufficient retirement funds on their own. It is a big issue today due the fact that taxpayers today feel that their hard earned money is going to someone who is living a nice, comfortable, and relaxing retirement for someone else.

    Retirement relates to personal savings by being able to retire you must have some sort of personal savings to retire on. Savings can help out a lot with a person's retirement and being able to live a good life after you are done working.
    It is important that working people think about retirement funds as an investment so that we may save up for later in life when we won’t have the ability to continue working. It has been proven that if a person begins saving for retirement when they are 18 rather than when they are 28, they will earn more money because of interest to live on when they retire and they will live a good life.

 Article: http://retireplan.about.com/od/planningbythedecade/a/top_retirement_planning_stories_decade.htm

  Video: http://money.cnn.com/video/pf/2009/02/20/money.revell.munnell.ss4.moneymag/