Social Security Discussion

[TexasF355F1]

My dad's been telling me since I was in high school the unlikelyhood that I would ever receive social security. Hell my dad(turns 58 this year) didnt ever think he would see it. He figured it would have been long gone by now. I think the privitization is a good idea. I'm not counting on it or SS for that matter though. Once i start receiving the trust fund my parents set up for me I will more than likely start using that as my personal savings for retirement. I hope, however, that it will be a long while before I'm start receieving it. It's still far too early for my parents to leave. Hell, they have to see their grand-kids first.

[GTP Dad]

I have to agree that privatization is a good idea for social security. I am 17 years short of retirement and will probably get my SS when I retire but for how long I have not idea. The problem is that the federal government has raided it several times and removed billions from the trust fund. By doing that they have decreased the amount of money available for use. Based on some of the private investments that are available it stands to reason that money can be made if it is placed in the right funds and bolster the economy at the same time. I think that privatization is long overdue and if we delay even further the later generations in this country will have no money available to them from SS even though the stand to pay in much more than any of us middle age folks are doing now. Bush is on the right track but he needs broad based support to make it happen. Personally, I would like to have control over some of my SS taxes, I know I could do better that Uncle Sam in investing!

[DGB454]

That's what they thought in England. Look where they are now.

[YogsVR4]

Originally Posted by DGB454

That's what they thought in England. Look where they are now.

I can say the same for Chile. Their privitization has been a smashing success.

[fredjacksonsan]

Well no one can argue against the fact that the government has bunged up SS. People should be given a choice.


As far as not having enough to retire on, the current SS system isn't really enough to retire on anyway and needs to be supplemented.

With a Roth IRA and 401K both funded fully, anyone should be able to save enough to retire on if they invest wisely, even if they start saving as late as their late 30's or early 40's.

[DGB454]

Anyone should be able too but tens of thousands won't. I can take care of myself but I don't want to be stuck taking care of all those who aren't able too because they can't or won't manage their money.