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But that's because the policy settings were wrong, not because the principle was. Opt-in? Boo! Really, contributions should be opt-out or
compulsory with an element of coice, like what % above the minimum, and where it can be invested. And you've got a whole generation of people who believed they didn't really need to save. It's worked well in other countries.
But also, there are no magic bullets. A retirement system needs more than to be a good plan - it needs to be part of an economic system that supports it. In America, minimum wages are low compared to the median wage, so there's no real opportunity for low-income earners to save. Helathcare costs are high, so retirement savings have to account for those too, which means they need to be bigger than they would otherwise be. There needs to be a culture of saving and investing, and if there isn't it needs to be created somehow. Also, financial tools that allow more investment in long-term projects like infrastructure. Some kind of a mechanism that takes some of the risk away from the retiree would be good as well. Personal finance lessons in high school. And so on...
Chris christie his social security plan effect 80k a year plan eliminated? Apr 16, 11:11
SS for retirement needs to be eliminated entirely Apr 16, 11:46
*vehement disagreement* {nm} Apr 16, 12:45
"Vehement"? Uh oh! {nm} Apr 16, 13:24
Yup. And I'm going to leave it at that. {nm} Apr 16, 14:05
WOW YOUR part of the PROBLEM saying some Privileged words like that - so you want people to slave till they die? Apr 16, 12:45
lol I'm working class. I just wonder if there's a better way {nm} Apr 16, 13:27
raising the retirement age would be a good place to start {nm} Apr 16, 13:28
only because of the Baby Boomer wave. when Gen X retires and Gen Y is still in the workforce, the numbers will be flipped {nm} Apr 16, 17:31
But not if the whole system is bankrupt due to the "low" benefits age vs increasingly extended lifetimes. Apr 16, 22:51
Social Security isn't nearing "bankruptcy" any time soon Apr 16, 23:24
they did that by moving workers off of defined-benefit pension plans into 401(k) and IRAs. it's been a uniform disaster Apr 16, 16:41
But that's because the policy settings were wrong, not because the principle was. Opt-in? Boo! Really, contributions should be opt-out or Apr 16, 17:33
Interesting site. I was assuming if they get rid of SS then they'll get rid of Medicare and the other Social Services {nm} Apr 16, 14:38
so they don't have to eat cat food, like the Great Depression {nm} Apr 16, 17:32
effin moochers {nm} Apr 16, 15:46
Blame the young people are busy youtubers making money. They do not need a real job. Apr 17, 16:06
