Social Security Opt out

[one-eyed-fatman]

Originally Posted by Mountain Walker

This whole social security flim flam effort by "W" is disgusting! This program was established during the great depression when only the wealthy had the means to take care of themselves when they got old. We are returning to the days of the robber barons. Today, forty per cent of the national wealth is held by one percent of the population and the shift continues to grow at an alarming rate each year.

Americans are not very good at saving and the SS is only a partial fix for the needs when folks get older. Few seem to think about this until they get close to retirement. I find it interesting that non political groups such as consumer union and AARP are against many of the recent repuplican efforts to shift increasing amounts of the national wealth to the very wealthy. Personally, I'm not too concerned for the welfare of Paris Hilton.

Young folks need to pay into social security and save a lot more besides and pass on spending beyond their means. Just my two cents.

So if you made 10.00 an hour would you be good at saving? And with the gov robbing the SS piggy bank...............

[tec]

I am 41.
I really don't count on SS being there when/if I can retire. All I have heard (maybe it's selective hearing my wife says I have) is that there will not be any money in X amount of years. I have looked at it as a toilet that I pay money into, with no return.

Am I wrong to think that?

[beardman2]

probably better to expect the worst. You can always feel like you won the lottery later.

[NewXD40fun]

Originally Posted by tec

I am 41.
I really don't count on SS being there when/if I can retire. All I have heard (maybe it's selective hearing my wife says I have) is that there will not be any money in X amount of years. I have looked at it as a toilet that I pay money into, with no return.

Am I wrong to think that?

Don't worry, the Democrats will fight like hell to keep SS as is so they can promise you money when you reach SS retirement age of 83.

Tom

[bd]

I haven't a clue what NewXD40fun is complaining about in this thread.

I love the ignorant list.

But you can bet his Social Security check is safely deposited in his account as of the first of this month and if it wasn't he'd be raising holy hell to find out why. He needs it so he can go to Wal Mart and spend it so he can support the Communist Chinese economy.

It's good for him but it's not good for the rest of us.

Sound familiar?

bd

[NewXD40fun]

Originally Posted by bd

I haven't a clue what NewXD40fun is complaining about in this thread.

I love the ignorant list.

But you can bet his Social Security check is safely deposited in his account as of the first of this month and if it wasn't he'd be raising holy hell to find out why. He needs it so he can go to Wal Mart and spend it so he can support the Communist Chinese economy.

It's good for him but it's not good for the rest of us.

Sound familiar?


bd

------------------------

Originally Posted by bd

If anyone wants to take what I'm putting into Social Security now and GUARANTEE me that they can pay me what SS will pay me when I retire or become disabled then I'd like to hear from you.

Bd

Mr. bd who is EXTREMELY critical of the Bush administration because of the Federal deficit now wants a guaranteed retirement fund.......no matter how deeply the government must go into DEBT to pay.

Is this not total hypocrisy?



Tom


Note: Since bd claims to be part of some "ignorant list" does this mean he cannot see this post? This is too good to be true.

[thomye]

Originally Posted by beardman2

thomye: ohhhh! sorry missed that I guess. I don't like that idea either though. You paid in your share you should get it back.

I agree wholeheartedly with you that one should get back what they put in but that's why this opt out is voluntary. I'm willing to pay for John Smith's 65 year old dad's retirement and anyone else in my lifetime and take nothing when i retire (completely voluntary). In exchange for my sacrafice, i'd like my kid(s) out of the SS cycle. Again, a one on one exchange. my wife and i would get our 2 girls out of SS.

For sure I don't want people loosing it if they need it. I think what it boils down to is that someone like me feels that government is the worst money manager there is. I can invest my own retirement so let me have that opportunity and let me teach it to my children.

"Markets are efficient" (stock market that is). The average index will double your money every 10 or so years, compounded, over your lifetime, you'll do way better than any government with much less contribution. you just have to start early. I used to work for a Mutual Fund company for 5 years where two renound professors and leaders in the field of efficient markets coined the phrase above "Efficient market" (Gene Fama and Ken French, if you get a chance, you should read their work). SS has crap returns and all you really benefit from is the minor tax break through the years.

I totally believe that people who want it, and according to the poll it's about 30% can remain in it and should get it. They can stay in the cycle and support themselves but for those who don't want any part of it, shouldn't we also have the right to opt out. Just my opinion. Please don't take this as I want to end SS, i just want it to end for my kids and it's just a solution that would Net zero. My funds for their freedom.