A solid, secure future

Social Security has been taking money out of every one's of paychecks since they were old enough to work.

All of that hard-earned money is deposited in a federal reserve and dished out in monthly checks to retired senior citizens all across America.

The younger generation has paid its dues to the system, yet thanks to inadequate financing, Social Security reserves will be completely depleted by the year 2032 and only about three-fourths of benefits will be paid by payroll taxes, according to the Social Security Administration.

People are living longer lives than previous generations and if a reform is not initiated, the youth of America will suffer from such demographics.

There are situations in which all of one's money will back one up in the midst of a crisis - without having to wait until 65 hits (which can be crisis enough). Social Security provides benefits for disabled workers. A payment for workers with a spouse and two young children averages $1,200 a month.

Social Security also provides survivors insurance, allotting an average payment of $1,500 a month to widowed mothers or fathers.

President Clinton has called for a White House Conference on Social Security in December 1998, aspiring to gain bipartisan support for reform.

Young Americans need to take an active role in understanding the multitude of facets of the program so they can secure their financial future.