The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Re: Don't worry about boomers killing the market||Date: 8/2/2006 9:15 PM|
|Author: DeltaOne81||Number: 52916 of 75387|
The only plan I have ever heard to invest SS funds "in a responsible way" was the Bush private accounts plan.
Investing money that's not yours is responsible investments?
Listen, I know the whole argument, but the fact is that SS is not a 'pay & invest' system. The money you put in now goes to today's retirees (or soon anyway). Your money will come from workers around the time that you're retireed.
I'm not saying that the current system, which involves 'saving' money by putting it in obligations of the same entity which is used to fund spending, isn't financial voodoo. It is. It'd kinda be like putting my 'savings' in my 'dinner out 4 times a week' fund. And then saying that when I need the money, my 'dinner out' fund will pay me back.
However, telling people that they can save money that is already promised to someone else for themselves. Is equally financial voodoo. And if they do really explicitly give the money to you, then it only makes the problems bigger and sooner, for the very same people who get the least help from the new plan (those near retirement).
One game of shuffling the cards around so people don't know what's happening isn't superior to another.
|Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|