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Politics : Foreign Affairs Discussion Group
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To: Brumar89 who wrote (180262)1/19/2006 9:28:47 AM
From: michael97123  Read Replies (2) of 281500
 
"I think most people, if given the choice, would stick it in a low return but safe account and earn less than they could. A lot of people with company savings accounts do that."

I hope you would be right but i think not. Most folks would invest the proceeds in the lottery. If i am right, we will end up being responsibe for those folks who misinvest and we would be back at square 1. When i talk about going back to the old rules of pension fund investment and choosing manager by performance, i think that offers the best alternative. The smart libertarian folks who came up with the idea of replacing SS with 401ks do not take into account the average joe who has little or no understanding of the markets. We already have a mess as corportate pension plans fold up and are replaced with defined contribution plans but we mustnt let that get to SS without the safeguards i proposed. Mike
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