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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: SilentZ who wrote (549747)	2/13/2010 9:01:18 AM
From: RetiredNow	Read Replies (1) \| Respond to of 1574509

I believe that each person is responsible for their own retirement. If retirees were responsible, they would have had their retirement money in cash and bonds, where it belongs. So the last several years would have had close to no impact on their savings. I actually wouldn't mind a hybrid where the government continues to enforce the same rate of savings and doesn't allow withdrawals until age 65 or so. But I want all a persons savings to be tagged to their social security number, not put into a pool and used to pay for the current crop of retirees. In addition, the government could even enforce that people invest in age appropriate allocations, like those target date retirement funds. So by the time you retire, most of your money is in cash and bonds. There are simple ways to make it work. However, one guaranteed way to make it not work is to continue to let it be defined benefit. That is not sustainable, as we are seeing now.