Aren't you glad the Republicans didn't put all our Social Security money in the stock market like they wanted?

[jack4952]

1.) No one EVER suggested putting all Social Security into the stock market.

2.) What was propsed was giving young people the OPTION of puuting their money into the stock market OR staying with the traditional Social Security (SS) plan.

3.) You speak as if the Government has a huge pile of Social Security money locked in a vault. However, the money for future Social Security payments does NOT YET EXIST. Next month's payments to SS recipients will be payed out of this week's deductions from your paycheck, plus LOANS the Government has taken out (in the form of Bonds) from other governments.

4.) If you are 30 years old or younger, do NOT count on Social Security -- at least not in any meaningful amount. The SS Trust Fund is owed TRILLIONS by our Government, an amount it can NEVER repay. And even if you happen to qualify for SS when you are 75 years old (Yes, that is the new age they are discussing now!), the Government will be using "means testing" - that is, if you have other sources of income (savings, 401K, stocks, etc.), you will get little or no SS payments.

5.) Money placed in a mutual fund replicating the S&P500 Index gains OVER 7% per year on average over the long-term. NO other stock or mutual fund or Government Bond has EVER - repeat, EVER - beaten this rate of return for more 5 years running. And we are talking about 70+ years.

6.) So, YES, I would LOVE to put my SS "money" in stocks. And RIGHT NOW ! ! ! Because NOW is the time to BUY, when they are under-valued.