Quote:
Originally Posted by dmek25
the problem with privatized social security is that you will still have millions of Americans that will make bad choices with their money. and then guess who gets to bail them out? that's right, our gov"t
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Dude, read the article. They are in fixed Annuities which guarante 4% return even at the fixed rate they are doing better then SS. But they have been averaging 6.5% and they have to participate. No one is saying do away withe retirement savings we just want alternatives that are much better then the current Federal system. If a financial advisor did with your money what the federal goverment has done with SS they would be thrown in jail and the key thrown away. Just read the article when you have the time and I think you may learn that the current system sucks. If I'm correct your young 25? and you should be the biggest supporters of changing this system so you don't have to throw your money away like I have had to do. I want to retire by age 65 and if I could have taken the money that goes to my SS and put it in a fixed account I could have retired at age 60. I would have something like tripple the monthly income and could have left a nice chunck for my children. Can't do that with SS.