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re: Do you believe in Social Security choice?
Posted on 7/7/14 at 3:14 pm to goldennugget
Posted on 7/7/14 at 3:14 pm to goldennugget
Personally, I would love to be able to opt out of it and invest the money myself. I'm young so I could throw everything into a Vanguard target retirement fund and end up with a lot more money than the current Social Security system will give me.
Reasons why it might be a bad idea:
Most people are not savvy investors, and some people would become victims of investment fraud.
The government would need some way to ensure that people who opt out of SS have actually invested the money for retirement. Otherwise, if the citizens spend the money, they're going to be a burden on everyone else when it's time for them to retire.
How could the government be sure the system isn't abused?
Reasons why it might be a bad idea:
Most people are not savvy investors, and some people would become victims of investment fraud.
The government would need some way to ensure that people who opt out of SS have actually invested the money for retirement. Otherwise, if the citizens spend the money, they're going to be a burden on everyone else when it's time for them to retire.
How could the government be sure the system isn't abused?
This post was edited on 7/7/14 at 3:15 pm
1
Posted on 7/7/14 at 3:28 pm to Hog on the Hill
quote:
Reasons why it might be a bad idea:
Most people are not savvy investors, and some people would become victims of investment fraud.
The government would need some way to ensure that people who opt out of SS have actually invested the money for retirement. Otherwise, if the citizens spend the money, they're going to be a burden on everyone else when it's time for them to retire.
How could the government be sure the system isn't abused?
fricking liberals
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