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Social Security question?
04-08-2014, 12:44 AM
Post: #1
Social Security question?
What do you think about modifying Social Security today by having people invest some of their Social Security "with-holdings" in the stock market?

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04-08-2014, 12:47 AM
Post: #2
 
Maybe as an option. It might be fine for people that aren't close to retiring. But for those that are older, it might be risky. The market can go down, just as easy as it goes up.

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04-08-2014, 12:59 AM
Post: #3
 
Are you actually willing to risk not getting your pension when the time comes?
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04-08-2014, 01:10 AM
Post: #4
 
Nothing is stopping anyone from investing the in the stock market already.

What you are proposing is to siphon money out of the current system--which is already projected to be cash strapped--into a risky system. When the market goes down, people appreciate the current system a lot.
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04-08-2014, 01:14 AM
Post: #5
 
Bush suggested that ten years ago. It didn't fly then and it won't now. What would happen is that people would throw it all into a crazy investment, then when they lost it, would go crying to the government to support them anyway.
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04-08-2014, 01:27 AM
Post: #6
 
You buy a stock because someone is selling. Statistically, about half the people would make good decisions at the expense of those who do not. The Stock Market is not for novice investors. If having more rich and also more poor, is your choice that is what you would have.
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04-08-2014, 01:29 AM
Post: #7
 
Not the best idea. The purpose of social security is to provide, as its name suggests, security.
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04-08-2014, 01:33 AM
Post: #8
 
Bad idea. With pensions disappearing in favor of the 401k more risk has been added already. If we had more decades of a bad economy people would end up with very little for retirement. Already more than half have saved little or nothing.

Second, the SS system is a pay as you go plan. The current workers pay for the previous generation and they next pay for us.

In order to remove any money from the system to put in to the risky markets you have to come up with the money to pay the current benefits. In other words, you have to pay twice.

Where are you going to get the money? The current money is already committed. Worse, the excess payments boomers made to cover themselves was already borrowed and spent by the government. That has to be paid back first.

Doesn't work.
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