When will Republicans try to sell us on the old notion of investing our Social Security in the stock market?

[ms_wheedler]

AGAIN?

[noisyWanderer752]

Actually, this is a beautiful time to invest. If you pick the right stock.

[Stars Up!]

When it hits another peak. And I agree with the guy above... I'm buying as much as I can afford right now. But if you had to live in SS for the last year and had it invested in the market, you would have burned through your account 3 times faster than normal. We can also talk about how fast you would have burned through the post-9/11 market downturn... or the 1980's downturn... You don't draw from it for just one market upswing. And at the end of a downturn, you have burned through a lot of equity that won't have a chance to recover in value.

EDIT: And to the children who think that it is a socialized, mandatory retirement account, it's not. It is like an insurance with an annuity kicker at 65 for every person in America. You pay into the plan as insurance in case of severe injury where you can't work and a guaranteed minimum (not much) standard of living after 65. It won't buy you medications or Medicare Supplement Insurance, but it will allow you to eat and have a small place to live. That's it. It's insulated from the market and it is only one of three legs of any retirement. Any more than that, you need to do it yourself.

Let's ask the workers of Enron, MCI, and Maddhoff investors how happy they are that at least there is Social Security.

EDIT: To Michael - I'm going in 10% speculative stocks, 30% US index, 20% European index, 20% Asian index, 10% Canadian funds, and 10% Microcap funds. I don't want a list of funds that the government supplies, I'm using multiple firms and purchase mechanisms to diversity fund risk from one supplier.

[oldmarine08]

Get it right if you are going to rant...the deal was to use SOME of OUR SS to be able to invest as we see fit, if we wanted to! I would have loved it,as by now I would have made a killing!

[regerugged]

Now is the time to do it. Stock prices are way down. They are starting to go up. Buy low and sell high is the way to make money.

You could also invest in bonds. They pay around 6% interest. SS gives you about 2% on your money. Whooppee.

[Michael N]

I agree with Stars Up. I like to buy when things peak, and then sell them when they get low. It's my way of donating money to the wall street fat cats.

Seriously though. It's a good time to invest in a "market mirror" stock. Something that's very diversified, and good within its sector.

Euro Growth mutual funds like RERCX are a smart move as well, as they take advantage of the dollar devaluing with respect to the euro.

[Griggnax]

Republicans won't make that mistake again.

If they ever get back into power, they'll just change the program so that it gets invested in the market automatically. You won't have the option.

[jeeper_peeper321]

Why would you care, if people voluntarily invested up to 20% of their SS in stocks ?

Just how would it harm you in any way ?

Because that's what the plan was,

To allow individuals to VOLUNTARILY invest up to 20% of their SS into specific stock portfolios.

No one would have been forced into anything.

Or are you just afraid, they will get more than you, if they are allowed to invest part of their SS ?

I thought liberals were all for the right to choose ?

[jdm]

Eh...well first of all...it is. Where do you think all of this bailout money is coming from? Do you honestly believe that Social Security money is sitting tucked away somewhere it can't be found and spent? Your money is out there whether you like it or not.

Also, with Bernie Madoff in the news and the phrase "Ponzi Scheme" being tossed around so liberally, you'd think that people would get a clue about social security. It's GONE. The last I had heard, it takes 4 working Americans to pay for one on Social Security. You may be no math whiz, but give this one a shot...go ahead. What do you see there?

If you said no money, then you're absolutely right.

Besides, you should have a 401K or something similar anyway. It may have done poorly in the past year, but in all honesty, unless you were an insider or extremely lucky, your retirement took a hit. On top of that, too many people misconstrue what Social Security even is and think of it as a retirement plan, when it's not. It's basically insurance for when you're older and unable to work, therefore afford things you need like food and medication.

Do you see the problem here? So far, social security is bankrupt, and there's no plan to either rescue it or keep it going. I really hope they wait until the last minute to fix it too, because that's always worked out for our economy, right SEC?

[Noah H]

It might be awhile for that one. My very republican neighbor, retired for the last several years because he was 'smart' and invested in the stock market and 2nd trust deeds is now looking for a job. I recall him giving me all that right wing radio BS about if a person invested in the market instead of 'giving the government your money' in that Ponzi scheme they call Social Security when he retires he'd have 5 to 7 times the amount of income than if he 'lets the government take care of him' via worthless government paper. I dunno.....Guess what? His income now is 'mostly' his Social Security check. There's a moral here somewhere...no kiddin'!