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+--- Forum: Social Marketing (/forum-10.html)
+--- Thread: With the stock market crash, isn't it a good thing we didn't privatize Social Security? (/thread-7032.html)
- Osama Obama Yomama - 10-12-2012 09:37 AM
What's the difference? It will be bankrupt before any of us are old enough to collect so the money is down the drain anyway.
- SilverPhoenix - 10-12-2012 09:37 AM
I'll stick with the coffee cans and buying gold......thanks anyways.
You have noticed the new ones are all plastic now too. Much better for retirement savings.
- Ford Prefect - 10-12-2012 09:37 AM
it would have been crushing...millions of retired people would have been reduced to poverty....and the rest of us would have little to look forward to......the government DOES do some things better
- Bob - 10-12-2012 09:37 AM
Wrong. I would have seen the down slide happening and I would have been able to move my 30% growth stock into bonds before the market dropped. Similar to what I did with my 401K plan.
- Kwanzaa Baby - 10-12-2012 09:37 AM
Since the Democrats destroyed the Stock Market to get Socialism who really cares.
If you think Social Security will be there and you are under the age of 40 you must be joking anyway.
- Phil - 10-12-2012 09:37 AM
what difference does it make,there is no social security trust fund,it is a budget item,actually if investment would have been in it,the stock market might not have dropped. only difference would have been the government wouldn't have had it's cut. but make no mistake,there is no money in social security it was spent in the 60's to create Johnson's new society since then taxpayers pick up the bill every year for social security
- Jeff M - 10-12-2012 09:37 AM
Try this : for each year you've worked, take the amount of social security tax you paid, and double it. (employers pay an amount equal to the amount you did)
Multiply that amount by the interest paid on a money market, cd, or govt treasury bonds. These are very safe investments.
for each year, add twice your SS contributions, and calculate the interest, adding it all together.
I think you'll find that you could be retiring as a millionaire, instead of expecting a pittance every month, which the govt. can only afford to pay you, if they keep printing loads of money, thus making your pittance worth even less. Also, if you died before using it all, your family would have the rest.
A better investment mix would include some stocks, which are a good hedge against inflation - their value increases as products become more expensive. For me, a lot of my contributions would have been made before the S&P crossed 250 (1986) or 500(1995). I'd still be well ahead, even though contributions over the last 8 years would be at higher prices than current value.
Also, lets consider the effects on the economy, if more retirement money was invested in productive business, instead of the vast wasteland of useless or counterproductive government programs.
And consider the impact on govt. spending, if they did not finance it by looting the SS "lockbox", or by selling endless bonds - thus expecting that future workers will pay for them.