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No. of Recommendations: 5
I'm probably by far the youngest poster here (23) but it's mainly because you're a great group of posters and heck you are all pretty smart too. I wanted to post this some time ago as it brought a large smile to my face. I try to read quite a lot of financial articles from various sources on a weekly basis and the first paragraphs of one article by a fund manager I believe on Quicken.com, brought back to mind something that I had completely forgotten and was curious to get some feedback from here.
He was basically stating, to my total agreement, how all talks at the beginning of the Bush era were for the inclusion of part of people's social security to allowed to be invested in the stock market. This issue is one I had discussed at length in one of my classes on the social security issue my generation will probably be facing, and it's absolutely obvious for me that this current market demonstrates how bad an idea it would be to allow people to invest in the market. I have several reasons why I believe this besides the political impact. First of all the most obvious is that everyone is not educated enough to take wise decisions with their money, even most of us Fools have made mistakes that I'm sure if they were at retirement (which might be the case if you held Worldcom or Enron) or during your investment careers would be too large to overcome. That's the fear I had with this proposal. Sure it was great if we had 20 years of the 1990s but that isn't going to be the case. Secondly, I think it's just a safer bet to know that the money that people have been putting aside to the government is safe and that if all else fails and the millions of Enron linked retirees need income, they have that at least. I'm more then happy to hear from what you might think of my opinion but it was jus a thought that had drifted away and came back suddenly. Thanks.
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