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Politics : Formerly About Advanced Micro Devices
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To: SilentZ who wrote (214473)1/8/2005 9:59:34 PM
From: RetiredNow  Read Replies (2) of 1572409
 
That's just the thing, zofsilence, it does NOT guarantee my child a safetynet. It would do that only if my children's contributions were set aside only for them. Instead today's contributions are going to pay for today's retirees. By 2018, there will be net outflows from the fund. By 2042, the SS Trust Fund will be empty. Now, I trust that our gov't will come up with money to fund their obligations at that time, but you can bet it will come from running a deficit, raising taxes, or cutting benefits. That's not much of a guarantee.

I'd rather see all of my kids savings from SS go into an account set aside for them and invested in a horizon fund. Then the probability is MUCH higher that the money they put in, they will get back out, plus a much greater return.
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