With the majority of companies doing away with defined pension plans it is important for workers to plan for their retirement. IRA and 401(k) plans offer tax fee contributions and lower tax rates when an employees starts drawing at age 59 1/2 or later. Social Security is not going to be a viable option for today's workers.
It is my opinion that as we age we need to know in today's society that there is something for all of us to fall back on in times of illness. Having a plan for retiring is essential to ensure that as we slow down there is something that can secure our well being and not become a burden to our family or society.
Yes I believe that having a retirement place is extremely important. To be able to take care and support your self after you are retired is very beneficial. Some people rely on their children but some cant or wish not to this is where a retirement plan comes in handy.
Yes! This day and age, if you don't have a retirement plan of some kind, there is a high possibility you won't be able to. People need to realize that social security is going to run out at some point, and it will probably be pretty soon. Better start saving!