Social Security meets Wall Street

[Eagler]

Bush is pushing to invest a % of our social security $$ into the stock market. I think it is a good idea for those of us with more than a couple of years b4 retirement but also feel he has a hard sell with the fluctuations of the market lately. What do you guys think?

Eagler

[fd ski]

i think that large banks on wall street are just drooling for commisions they will make using OUR money while WE take the risk.

Whole thing is moronic. One of those days whole market will take a nose dive and you'll see bunch of people demonstrating on the streets because all of teh sudden they are 70 and have no money to go on.

I know one thing for sure. I don't one a dime of my money near the market. Boom is over people, no more .com/400% returns anytime soon.


------------------
Bartlomiej Rajewski
aka. Wing Commander fd-ski
Northolt Wing
1st Polish Fighter Wing
303 (Polish) Squadron "Kosciuszko" RAF
308 (Polish) Squadron "City of Cracow" RAF
315 (Polish) Squadron "City of Deblin" RAF

Turning 109s and 190s into scrap metal since 1998

Northolt Wing Headquarters

[Ripsnort]

But FD, those of us with a half a brain moved our monies into blue chip stocks and bonds before the market got anywhere near a crash...and...I might add, you Dem's are so willing to give your money away to big Gov't in the form of taxes, whats a couple extra dollars gonna harm in the stock market?
  <<<Note smiley.

[1776]

Remember it is only part of you SS tax that is going to be under your control.  That part will be passed on to your heirs too.  A novel idea of letting you control your own money for your own retirement or for your family if you pass on.  Blacks in America have a much shorter life span then other ethnic groups and have gotten the shaft when it comes to SS benefits!!!  Now at least they will be able to pass the wealth they created to their families  They will no longer be victumized by the white Libs as they have been in the past!!

JJ, ain't ya proud of me

[J_A_B]

If the Government passes that, I'll have to get a job with a railroad so I can avoid SS altogether.  I don't like SS to begin with.  I'd positively hate it if it becomes tied to unpredictable stock markets.  

And what of the people who lose out?  I can't imgaine our government saying "tough luck"; chances are we'll just have to pick up the tab to support these people on welfare or something.

Bad bad idea.

J_A_B

[Toad]

Haven't done the research but this isn't a MANDATORY thing is it?

It's an option for those who wish to select it?

[1776]

A group was formed today to investigate how to go about privatizing part of the SS.  I have a feeling that you will be only able to invest in certain funds like current government employees.  However, it is your monies, not thrown into a pot for all but you to enjoy!!!

[1776]

J_A_B, there won't be any SS for ya when you retire if some kind of reform isn't implemented!!  Two workers can't support one retiree!!!  Or your SS benefits will be so small.  Action needs to be taken today or the whole system collapses when us baby boomers retire!!

[Yeager]

"All your P3s are belong to us"

"its over, you lost now go home"

Y

[J_A_B]

"there won't be any SS for ya when you retire if some kind of reform isn't implemented!! "


This is why I just wish the Government would get rid of it completely.  I'm young enough that I will most likely be paying into SS to support other people, yet never see a penny of it myself.  I've seriously considered getting a job with a railroad to avoid this.

J_A_B

[1776]

So railroaad retirement isn't administered by the government?