Persuasive Speech On Saving For Retirement Essay

, Research Paper

Persuasive Speech on Saving for Retirement

Dateline: 08/17/98

In virtually every business college, you will have to take some form of speech/communication class. Here’s a persuasive speech with a format that Business Majors Guest Writer Allen Yamazaki used for his Speech 251 class. You can also learn about saving for retirement at the same time.

Saving for Retirement

General Purpose: To persuade

Specific Purpose: To persuade the audience to start saving for their retirement

Central Idea: Starting early to save for retirement has many benefits over Social Security

Introduction:

I. (Attention Getter) Only 2 people out of the 19 responses I got from the survey have started saving for their retirement.

.... A. This is understandable because most of us.

......... probably.think that retirement is something

......... that is eons away.

.... B. Because we are college students, our school.

......... schedule only allows us to work part time.

.... C. Between the 2 people that has started saving

......... for.their retirement, one person currently.

......... works full time.. And this person also is.

......... participating in their employer’s.profit sharing

......... program or 401K plan. And this person.

......... also owns stocks. This person already has a

......... good start.

II. (Credibility Statement) I myself have started saving for my retirement by starting an IRA.

III. (Reveal Topic) You simply cannot rely on Social Security to support you in your “Golden Years”. You can never start too early to save for your retirement. In fact, the earlier, the better.

IV. (Preview) Today I will discuss Social Security and why the current system is not working, ways that you can start saving for your retirement, and the benefits of saving for your retirement instead of relying on Social Security.

(Transition: So let me start by discussing Social Security and why it is does not work)

Body:

I. Need Step

....

A. First I will explain what Social Security is.

......... 1. Social Security is a Federal program where

............. they take a percentage from all of the wages

............. earned by workers in this country.

......... 2. The money that is collected is put in a trust

............. fund that provides a monthly income for.

............. retired.workers

.

......... 3. These benefits are also partially available to.

............. the spouse of the deceased beneficiary, and

............. it.provides benefits for disabled workers.

.... B. According to the article from The Heritage.

........ Foundation “Issues 98: The Candidate’s.

........ Briefing Book”,.there are several problems to

........ the current Social Security system.

......... 1. Social Security gives a poor rate of return.

............. The rate of return varies from person to.

............. person. For instance,.for the best case.

............. scenario, a married couple with two.

............. children and a single earner receives only

............. 4.74 percent.if the earner was born in.

............ 1932. However, most of us.were not.

............. born in 1932 so that percentage.

............. decreases to.less than 2.6 percent for.

............. those born in 1976. Single men do the

............ worst when they only have a rate of.

............ return of less than half a percent.

......... 2. People are becoming more dependent on

............. Social Security.. Today, Social Security.

............. benefits are the primary source.of income.

............. for almost two thirds of all retirees.

......... 3. People don’t know their rate of return on.

............. their Social.Security taxes. A worker has

............. no clear understanding.of the yield on his

............. or her investment in the Social.

............. Security program.

......... 4. The trust fund is running out of money..

............. By 2012, the Social Security trust funds

............. are expected to start paying.out more in

............. benefits than it collects from taxes. Why..

............. Because people are living longer, more.

............. people are retiring.early, and women of.

............. today are having less children..Which.

............. means that there will be less people in.

............. the workforce.to pay for the increasing

............ number of retirees.

(Transition: So now we know that it is not wise to depend just on Social Security when we retire. There are, however, other things you can do to better prepare yourself for retirement. I will focus on investing your money in private investments-particularly IRAs and Stocks)

II. Satisfaction Step

.... A. The IRA

......... 1. Only 6 people of the 19 surveyed knew.

.............. what an IRA was.