No. of Recommendations: 1
My opinion has not changed.

Either put a portion into target-date retirement funds or put it all into treasuries.

Either way is better than the current system. Either way would still have people with much more money today after 30-40 years investing in that sort of system than the rate of return they currently receive.

This is entirely a specious argument as few if any wanted to put little ole ladies in 100% stock.

A person at your age or mine would be fine with a majority stock allocation - we have decades to recover from this drop and we get to buy cheap with any new money. If this was a target-date fund, as I think would be appropriate, then the closer we get to retirement age, the more bonds and money markets the account would hold.

But, even without that, I would still settle for a basket of laddered treasuries.

The main problem I have with SS is that there is no ownership of the accounts. Due to this, it turns into a form of regressive taxation.

Poor (and typically minorities) pay into the system and on average, die sooner than rich whites. As such, they typically get less out of social security than they put in - they lose money on SS.

The system needs some ownership. Many poor can't afford to save more money than what they are FORCED to put into SS. Give them ownership of that money so when they die, any remaining balance is given to their family - help break the cycle of generational poverty by giving people ownership of their retirement income.
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