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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: Lane3 who wrote (101791)	2/23/2005 4:14:37 PM
From: KLP	Read Replies (1) \| Respond to of 793745

So kholt, are you recommending that the 'kid' you made up, should just do as he/she is told, and put money into the SS system as it is now configured. Maybe something will be there at the end. Maybe not. I would venture to say that IF Roosevelt hadn't made it mandatory that all of us have money deducted/confiscated from our paychecks over the years, and put into the SS system, that we would not have done it voluntarily. The smarter ones of us would have put that money into some sort of investment that hopefully would have produced some income over the years to use in our retirement. The dumb ones of us would have bought new cars, trips, flashy jewelry, and who knows what else, and had nothing to show for it when they retired. Choices, Choices......

To: Lane3 who wrote (101791)	2/23/2005 4:16:45 PM
From: TimF	Read Replies (1) \| Respond to of 793745

That is something to consider, and something that has to be dealt with, but its more of a detail than an important strategic consideration. The detail has to be worked out before any such plan is implemented but it isn't something that should cause people to change their mind about the basic idea. I imagine that the opting for the private account would be irreversible but opting for no private account might not be (assuming the plan really is voluntary). But if you wait until to late to switch to a private account it won't make sense. You won't be able to accumulate much in a private account in say the last 10 years before retirement. Tim