Well it's been predicted that the American Social Security will basically be depleted sooner or later. Within the next 15-30 years. This means any money in those accounts will be no longer available for withdrawal or lost completely. For the mean time I took the money from my 401K from the times I worked when I was younger. (401K is the standard retirement account in my location.) And placed it within a retirement funding account with the bank. (An IRA I believe.) Therefore it builds interest and what not.

For the time I worked and began putting in 401K money. I've collected about $500 over the short time I was legally able to begin. I stared putting money in it when I turned 18. Before then I was still working but was not old enough to have my own account.

My parents explained to me that if I begin putting small amounts into this account when I do work that in fortunate time when I am retiring. I will not have to work. Though I see many kids do not do this, and some parents believe it is a waste of time. I know some people whom have placed $300,000 into a 401K and spent it up all in one year.

I believe if it's managed responsibily it can be a very awesome attribute down the road. But other's have their own opinions about saving that kind of money. How do you feel about it? Do you believe in retirement funding or sticking to the government's social security?