Posted by wylie715 on 5/15/2018 12:39:00 AM (view original):
Posted by strikeout26 on 5/14/2018 12:41:00 PM (view original):
You are wrong, Tang. Social Security is a terrible thing. If people reinvested the money that is withheld for SS in a mutual fund or something similar, the returns would be much greater than what they get back from SS.
What is wrong with cutting social welfare by 30%? As I've said, if you are healthy, you should not be receiving aid from the government.
as you've pointed out, not everyone has a knack for handling money. How many people would have no money now if not for SS? My mom worked her butt off until she was in her late 70s. My dad worked until he died in his early 70s. Neither of them had any idea how to handle money and that's why my Mom lives on her SS now. If that money they put in to SS was never taken away for SS, she would have nothing to live on now. Both my Mom and my Dad were extremely smart people (my Mom still is....for 89), they just had no knowledge about growing their money.
I agree. My parents make a very good salary and are in the same boat. My mother is a retired geneticist from a very prestigious university, brilliant woman, and she doesn't understand how to plan for retirement. My point is that the math doesn't work for SS. I would much rather keep that money and invest as I see fit. For people that are good with financial planning, it would make much more sense to not have SS withheld.
Yes, I know, SS would be bankrupt if it were optional, but once again, it proves that it is not a good plan. It might have been in its creation, but it doesn't make sense anymore for the national economy. People are living longer and it has been borrowed from too many times. I do not have a suggestion for a better plan, but i'm positive that one exists.