Skip to main content
No. of Recommendations: 68
I've paid into, that, given the trend of society's ideology, a majority would deem I "don't deserve".

You cannot receive from it if you have not paid in to it. 40 quarters: 10 years contributions mandatory to receive any benefit (assuming you were born after 1929, which I'm going to assume here for the sake of sanity.)

Besides, in my planning, I generally count on those things that are under my control, i.e., my IRA, my 401k, my brokerage accounts. Not some government "lockbox".

The odds are in favor of the government lockbox over any stock or brokerage account you have. You need only look at the most recent financial debacle, the worst in almost a century, when stock holdings were reduced by 50%, while Social Security benefits were reduced by, well, nothing. So while GE divided holders were watching their income slashed, while people living from their portfolios were suddenly shocked at how little they had, those Social Security checks kept coming - at 100% par.

I understand that your politics puts you in the "if government does it it must be bad" camp, but the reality is that you are far more at risk from almost everything except Social Security. Your bank and CD monies are safe only because of a government program (FDIC), your annuities are backed by state guarantees, and regulations keep your stock broker from playing with your funds unless you say he can. Nearly everything that is really safe, including Social Security, is because of the government, not in spite of it.
Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
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.
Contact Us
Contact Customer Service and other Fool departments here.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! 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.