UnThreaded | Threaded | Whole Thread (7) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: jstermer Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75383  
Subject: Re: Social Security Series Date: 10/20/1998 9:28 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
I read with interest the summary of the Social Security system and how it is basically a transfer of wealth from workers to non-workers. The author said that he saw three ways to help the SS system limp along for a few years longer than currently projected: 1) Minor tinkering, increasing taxes and reducing benefits; 2) Allowing some self-directed investing along the lines of an IRA; or 3) A combination of (1) and (2). I would like to suggest another alternative: Get the government out of the retirement/Ponzi scheme business altogether and allow adult citizens to provide for their own retirement as they see fit. I am 47 and have paid into the system for over 25 years, but I would be perfectly happy to get back what I have paid in so far (even without interest, just adjusted for 25 years of inflation) and opt totally out of the system. Allow me to receive the 15+% that I am currently forced to send to Washington (my "contribution" and my employer's matching payment), and I will expect nothing from the government when I retire at whatever age I choose.
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (7) | Ignore Thread Prev Thread | Prev | Next | Next Thread

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement