Z, WHAT? How many people do you know that have retirement accounts like 401Ks and SEP-IRAs that have seriously begun "thinking like investors?" A few, but not many.
Brooks' comments does sound a lot like Rush Limbaugh, but I think you're misinterpreting the phrase "thinking like investors." It's all about ownership and responsibility, not daytrading, speculation, and beating the market.
Besides, investment "experts" tend not to really beat the market, on average... why is the average person going to be able to do better?
This is just another piece of FUD that opponents of SS reform toss out, right up there with the notion that Bush wants to kick seniors out into the streets.
Most people should just put their retirement money into an index fund, such as the S&P 500, the Wishire 5000, or the Russell. These, like the Dow and the Naz Composite, are good measures of the overall American economy. Or they could just stick their money into a savings account and let compound interest build their wealth slowly, but surely.
Of course, lots of people would rather not worry about it and just think of their SS checks as an entitlement. Like Jimmy Mac said, "Any program is real FINE when you get more out than what you paid in." ( Message 20835353 ) Hence the opposition to privatization, because many people are afraid they won't be getting theirs.
Tenchusatsu |
