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+--- Thread: should we have let george w tie social security to the stock market? (/thread-7740.html)
should we have let george w tie social security to the stock market? - Googlybear - 10-12-2012 10:16 PM
i remember he suggested it.
- Nancy - 10-12-2012 10:24 PM
Yea, then he would have two "legacies" he could be proud of.
- u_bin_called - 10-12-2012 10:24 PM
As I recall, he never suggested the entire fund be tied to the stock market. Instead, he advocated a portion of the funds each worker pays can be held in a privately-managed account....in other words, give workers more control over their own futures.
Like the stock market, SS funds are for long-term thinkers. My 401k, for example, lost quite a bit of value during the "crash" several years ago....but with stocks, you never actually "gain" or "lose" anything until the sale date. Since that time, my account is many times more than it was before the crash...only because an informed investor accounts for those things.
- TAT - 10-12-2012 10:24 PM
You are confused. He wanted to allow people to take a small portion of their social security and invest it in the market. Despite the problems with the market the last five years, I am still getting a good return. I am losing money in social security and if I am able to care for myself comfortably when I retire, I may never see any of it.
- bobber - 10-12-2012 10:24 PM
Actually, depending how it is crafted, it could be a good thing. Chile did a version of it and it did much to stimulate their economy for the better.
- Mike - 10-12-2012 10:24 PM
No way! There are too many sharks out there just waiting to get their hands on the trillions in Social Security that naive novices would be trying to invest. What happens when the shark eats the poor fish? Plenty of professionals lost big. The amateurs would get better odds at Las Vegas.
- bigvossman - 10-12-2012 10:24 PM
First he never suggested it be mandatory. Second, in most IRA/401K plans you have the option to place the funds 100% in government bonds. The same place the SS trust fund is invested in