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Politics : High Tolerance Plasticity

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To: energyplay who wrote (22668)	1/6/2005 11:34:08 PM
From: bull_derrick	Read Replies (3) of 23153

One could think of Social Security in its present form as an insurance policy in case one lives a long time where the populations pools its risk. Some check out early while others need the assistance for a long period of time. Studies of 401K performance shows the average person makes very poor investment decisions regarding their retirement plan savings. At our company, some employees have 2 and 3 loans against their 401K which means they have substantially zero equity for their retirement. The public tends to invest in the market at the peak and sell at the troughs. I am sure Wall Street would love to see more dumb money coming their way. As a very conservative Republican, this may sound out of character, but I'm not at all sold that this is good public policy even though SS is not something I'm figuring into my own personal retirement plans. This would be a sad country in 40 years if the public were allowed to squander their retirement as they've shown a propensity to do with 401K programs. That may sound like a pretty liberal viewpoint, and it probably is, but I don't believe the average person has the financial wherewithal to pull it off.

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