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URL:  http://boards.fool.com/those-who-oppose-having-you-own-your-social-15452036.aspx

Subject:  Re: Help! My Social Security is in Lucent Date:  7/26/2001  6:44 PM
Author:  mcmck999 Number:  46547 of 744608

Those who oppose having you own your social security benefits, use the lame fear tactics without regard to the truth. I submit the following truth test:

1) If your other investment accounts are loaded with Webvan, Lucent and other fallen stars then, then you might have invested your social security dollars there also given the opportunity. However a far more likely scenario is that you would use index funds, and other less risky investments just like you use in all your other retirement accounts. Regardless, it would have been your money and your choice. Your social security dollars are currently invested in non-negotiable treasury IOU's which have no value without passing a law to pay them off. Now that's an investment that makes Lucent stock look good.

2) Those poor inexperienced investors everyone wants to protect usually put their money in CD's for safe keeping. So why do we assume they will put their social security funds in penny stocks and junk bonds. It just makes no sense.

3) Over 100,000 has been paid into social security from my employment (50k by me 50k by my employers). With over 20 years until retirement and market returns, the rule of 72 says my social security money would double 3 times invested privately (once = 200k, twice = 400k, three times = 800K). Does anyone in their right mind think I will ever get anything close to $800,000 from social security? Unless the answer is yes then social security is a bad deal for anyone not already retired or very close to it.

4) Even though the social security projected payout for current workers stinks compared to private investment, the real problem is THEY CAN'T PAY THE BENEFITS PROMISED TO CURRENT WORKERS!


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