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Investment Analysis Clubs / Macro Economic Trends and Risks
|Subject: Re: Proposal to end public pensions||Date: 7/11/2013 11:38 AM|
|Author: jgc123||Number: 428484 of 506024|
"SS is the one thing in your list of which you have no legal recourse if someone changes it or takes it away."
And that's why it should be preserved and protected.
I am 57. My retirement bucket will consist of some combination of:
2. Spouse's SS
3. My IRA
4. Spouse's 403(B)
5. Spouse's pension
6. Additional financial investments including stocks, bonds, savings and cash value of life insurance policies.
7. Health and ability to work until I die if I keep what is left of my faculies.
If there had been no bailout of the banking industry in 2009, and the market had continued to lose 90% of its value a la 1929-32, very few of us would have had legal recourse for the loss of our IRA's, 401(K)'s, 403(B)'s, and/or pensions and/or homes.
In my opinion, Social Security ought to be a life raft upon which hard working people should be able to depend.
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