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+--- Thread: Would you agree to let young people Opt out of Social Security if they wanted and invest that money elsewhere? (/thread-9318.html)
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Would you agree to let young people Opt out of Social Security if they wanted and invest that money elsewhere? - Ben Artzi - 10-14-2012 02:30 AM
What's the lesser of two evils? Opting out and investing in the free markets, or getting 16% less of what you put into social security in the first place?
http://finance.yahoo.com/focus-retirement/article/113450/social-security-secrets-smartmoney?mod=fidelity-livingretirement&cat=fidelity_2010_living_in_retirement
- El Tecolote - 10-14-2012 02:38 AM
As long as 42 is considered young enough to do it. (That's my age...)
- spirit_of_tom_joad - 10-14-2012 02:38 AM
No. SS is a social contract, a guarantee from the people of America to those too old or sick to work.
- mshomegrown - 10-14-2012 02:38 AM
the option shouldn't be a question - it's not the governments business
- Willamette - 10-14-2012 02:38 AM
Then how is the US Government going to meet their social security obligation to older people without money from a base of younger workers?
- zyro - 10-14-2012 02:38 AM
I'm a young person and I think we should just bite the bullet for our elders. We should just pay into social security knowing we won't get anything so we should make sure to invest in our 401k's and IRA's. A lot of older folks sacrificed for us in WW2, Korea, & Vietnam. We should pay it forward. Then at some point we should establish a cut off line and just abolish it after the last group of qualified people has passed away.
- LibertyLover101 - 10-14-2012 02:38 AM
Freedom means choice...so of course so
- Jim Rooks - 10-14-2012 02:38 AM
if they allowed anyone to opt out, but especially young people, their lies would be exposed immediately, as current recipients of SS are paid by current workers "contributions". I see a time very soon where even the uber rich will have to contribute so that it can remain "solvent" for a few more years
- Smoking Joe - 10-14-2012 02:38 AM
No, because that would have lost billions of dollars if they had approved Bush's request to replace social security with stocks and bonds.
- wendy c - 10-14-2012 02:38 AM
Maybe people around here don't remember pensions, and how people were convinced it was better to let them take the money and invest in 401K funds.
Ask how the stock market is doing today.