Retirement is the time in life when the significant sources of income change from earned income to employer-based retirement benefits, private savings and investments, social security, inheritance, etc. Therefore, as one begins the working phase of life, it is good to start planning what one would need to be comfortable during retirement. In 1989, my major professor advised me, "The most important thing you can do is start early to plan for the future. The longer you wait, the less time you have to save for retirement and the less time your retirement funds will have to grow." I wish I had paid more attention to his advice. Most of us don't think about retirement in our 20s. I wasn't. What about you?

Here are the prompts for the paper (three pages): Some points to ponder when you envision your retirement: I realize that most of you are more concerned with starting your career, but have you given any thought to planning for retirement? Perhaps not! Well, it's never too early to think out of the box and plan for an ideal retirement. I would like you to make your retirement scenario based on the information you have acquired from Chapter 9 (Novak) and the videos. Do incorporate Chapter 8 concepts and ideas you have learned in this paper. Social Security plays a huge role in a retired person's life. Here are some prompts for the paper: What do you think retirement means? Do you think everyone should be required to retire at age 65 or should people retire whenever their heart desires? Who should be responsible for planning for one's retirement, the individual or the state? What age do you want to retire? What are you doing now to prepare for a comfortable retirement? Have you thought of what you will receive from Social Security, pensions from private or government employment, IRA, and 401(k) retirement savings? What steps can you take now to control your financial future? How will you make a strategy for saving for retirement? How much money does one need for retirement? How much should one plan to contribute from personal savings each month? What would be the possible sources of retirement income to maintain a decent lifestyle? Do you believe your gender will positively or negatively influence your retirement age and opportunities? What are your thoughts and reactions about this assignment? Did the videos influence you in any way? Did you learn anything new? What insights have you gained? Do you now have a better idea about how to plan for retirement in any society? Should retirement in every field be reinvented in the USA?