Fabricating a Crisis
August 21, 2001 6:54 AM Subscribe
Fabricating a Crisis (NYT link, registration required yada yada yada) -- With the baby boomers getting up in years, it's becoming increasingly obvious that something must be done about The Social Security Situation. But are privatization and personal funds really the answer?
Well, you can do what I do: totally discount the idea that Social Security will even be around when I retire. Just ignore it, as if it does not exist. Then, conduct your financial planning accordingly. That way, if by some miracle it does exist when I retire, it's all gravy.
posted by UncleFes at 7:21 AM on August 21, 2001
posted by UncleFes at 7:21 AM on August 21, 2001
It would be easier to ignore if we didn't have to continue paying into it (whether we'll ever see those dollars or not).
posted by trox at 7:51 AM on August 21, 2001
posted by trox at 7:51 AM on August 21, 2001
Well, unless you're a white woman, you'll probably never get back your buy-in anyway - white women are the only race/sex that have an average life expectancy long enough to get paid. Black males are the support structure for Social Security - they pay all their lives, then die before they get a dime . Nice, eh?
In any event, goverment is going to take what it wants, regardless of whether or not it makes any sense, since there isn't enough political will on the part of the people to stop them. That money's gone. Forget about it and build for your own future as best you can.
posted by UncleFes at 8:41 AM on August 21, 2001
In any event, goverment is going to take what it wants, regardless of whether or not it makes any sense, since there isn't enough political will on the part of the people to stop them. That money's gone. Forget about it and build for your own future as best you can.
posted by UncleFes at 8:41 AM on August 21, 2001
Everyone ought to have a choice of contributing or not contributing to the fund. If you contribute, you get a measly return at retirement age. If you don't you either a)spend it, or b)start your own retirement plan--an IRA or something of sorts.
The government shouldn't baby its citizens.
posted by Witold at 9:49 AM on August 21, 2001
The government shouldn't baby its citizens.
posted by Witold at 9:49 AM on August 21, 2001
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posted by Optamystic at 7:12 AM on August 21, 2001