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The Baby Boomer Generation is a source for trends, research, comment and discussion of and by people born from 1946 - 1964.
Covering issues on the Boomer Generation including original content for Boomers, bulletin boards, user comments, Sixties and Seventies music, Baby Boomer culture, health and coverage of issues for "Aging Hipsters." |
April 16, 2005
How Secure is Social Security?
Now here's a social security story I can get down with. How many more people have to point out that if anyone brings down Social security it will be the current administration, not 73 million Baby Boomers? Make up your own mind--read this from the Center on Budget and Policy Priorities and then let us know if you really want Wall Street safeguarding your retirement.
Here's an excerpt: " President Bush’s proposal to shift payroll taxes into individual accounts would not help to close the Social Security shortfall, however, and could make the challenge greater. In the absence of any benefit cuts, the President’s private accounts would cause the trust fund to become insolvent 11 years earlier, in 2030 rather than 2041."
Posted on April 16, 2005 8:51 AM
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Hello,
To answer your question, yes I would rather have my money invested in the strongest financial marketplace in the world any day than sitting on Capital Hill. Every educated individual in America (Republican or Democrat) has his or her money invested in the Stock Market so I really donât see your risk factor. If you take any twenty-year period of American history the market has always increased faster than the rate of inflation. So why on earth would you want your money sitting in a government fund barley rising at the rate of inflation (especially when inflation has been nonexistent over the last ten years), when you could be accumulating an incredible nest egg.
Posted by: Jeremiah on April 18, 2005 2:14 PM
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