WOULD YOU RATHER HAVE A FUTURE PERSONAL INVESTMENT ACCOUNT,instead of government ...

[Rocko]

Rocko,if we are going to save this nation..
the only way to do it is completely go against the gra in of what society has been dumbed down to.

I think your heart is in the right place, but realistically, people want thier SS.

 

[Ed Spacer]

In my system,you guarantee your own future with complete control,your funds,no one else,no business,wall street,or government.

Just you.

 

[OohPooPahDoo]

In my system,you guarantee your own future with complete control,your funds,no one else,no business,wall street,or government.

Just you.

"Complete control" ? How do I control the price of goods 30 years from now?

 

[Ed Spacer]

Rocko.
if citizens show they are in control,and break out of the liberal dumbed down thinking.
theyll see how powerful personal charge is.
its evolution.
and its time for it.

 

[Rocko]

It's not evolution. It's going back.

 

[Ed Spacer]

Ooopadoo
dont divert the conversation.
this about having noninterfered complete control of ones future.
and eliminating socialistic redistribution.
and eliminating the government variable of fiscal misuse with having ctuzens cobtrol their own future.
at that point,only the individual can be blamed,no one else.
and gocernment in this start,can no linger work unto itself.

 

[Foxfyre]

Why fix a system that is so flawed that it makes no sense at ANY level?

A lot of people with very nice websites agree with you but the fact of the matter is that there are some relatively simple fixes to social security.

Why not now encourage people to utilize a system by which they can almost guarantee an adequately funded retirement?

Almost guarantee? Which system is that?

Do the math. Deposit the amount of FICA taxes beginning with a person's first job into a private investment account. Over the next 40 to 50 years, watch those funds grow with interest or conservative investments that will almost invariably result in a retirement account exceeding a million dollars and providing a comfortable living for the retiree even with a couple or so major market crashes during that time.

Compare that to the $800 to $1100 per month doled out to the average social security recipient.

Also, if you don't use your social security benefits, they are swallowed up by the government. Gone forever. It is not your money. However, if you continue to earn a living wage, the government will tax you again on your social security benefits despite the fact that you have already paid federal income taxes on that money once.

Your private investment account, however, is available to you to further invest or to bequeath to charity or your children or to whomever you choose. It is your money to do with whatever you wish.

 

[OohPooPahDoo]

this about having noninterfered complete control of ones future.

That's not possible

at that point,only the individual can be blamed,no one else.

If you discount the effect of market forces on a person's life then you are saying there is no market. Clearly I can't control the price of goods 30 years from now, nor can I predict how long I will live even.

 

[OohPooPahDoo]

Do the math. Deposit the amount of FICA taxes beginning with a person's first job into a private investment account. Over the next 40 to 50 years, watch those funds grow with interest or conservative investments that will almost invariably result in a retirement account exceeding a million dollars and providing a comfortable living for the retiree even with a couple or so major market crashes during that time.

"Do the math" ?

Sorry, but how do you know how much those funds will grow? You haven't even said what they are invested in, let alone shown that you know what those investments would return.

Also, if you don't use your social security benefits, they are swallowed up by the government.

And if I live to be 110 I'll use a lot more benefits than I've contributed. Such is the nature of insurance.

Your private investment account, however, is available to you to further invest or to bequeath to charity or your children or to whomever you choose. It is your money to do with whatever you wish.

And what happens if I run out before I die?

 

[Ed Spacer]

Ooopadoo
again,you dont get the point.
no business or government involvement.
citizen controlled.
FEDERAL MONEY MARKET ACCOUNTS,apy of 3%
electively controlled,think outside the box.
eliinating redistribuative socialism and government control
this is beyond the point of possible for working.

 

[Ed Spacer]

If the investment fucks up,only the citizen is to blame,no one else.
a citizen has,by the virtue of a guarantee of the.money they deposit,no risk,having no interferance or control other than the citizen.

 

[Ed Spacer]

Guarantee of no loss of outside entity by virtue of citizen control.

 

[OohPooPahDoo]

Guarantee of no loss of outside entity by virtue of citizen control.

So this is an inflation protected investment?

 

[OohPooPahDoo]

a citizen has,by the virtue of a guarantee of the.money they deposit,no risk,having no interferance or control other than the citizen.

No risk? How is that accomplished? Government guarantee?

What about the risk that rampant inflation would render the investment worthless?

What about the risk of living so long you use it all up?

 

[OohPooPahDoo]

Ooopadoo
again,you dont get the point.
no business or government involvement.
citizen controlled.
FEDERAL MONEY MARKET ACCOUNTS,apy of 3%
electively controlled,think outside the box.
eliinating redistribuative socialism and government control
this is beyond the point of possible for working.

So the government has to prop up a rate of 3% even when the market won't sustain it?

How does that work?

Is that 3% before or after inflation?

 

[Ed Spacer]

Yes,sir,inflation protected.
why?
because youre in co nt rol of it,no one else.

 

[Foxfyre]

Do the math. Deposit the amount of FICA taxes beginning with a person's first job into a private investment account. Over the next 40 to 50 years, watch those funds grow with interest or conservative investments that will almost invariably result in a retirement account exceeding a million dollars and providing a comfortable living for the retiree even with a couple or so major market crashes during that time.

"Do the math" ?

Sorry, but how do you know how much those funds will grow? You haven't even said what they are invested in, let alone shown that you know what those investments would return.

Also, if you don't use your social security benefits, they are swallowed up by the government.

And if I live to be 110 I'll use a lot more benefits than I've contributed. Such is the nature of insurance.

Your private investment account, however, is available to you to further invest or to bequeath to charity or your children or to whomever you choose. It is your money to do with whatever you wish.

And what happens if I run out before I die?

I have done the math based on the lowest average rate of return for interest and/or real estate and/or solid conservative investments. And even with the black Friday of the Dot.com bubble and the devasting crash of the housing bubble bursting, and you had to retire at that time, you STILL do fourfold better than you can ever hope to do with Social Security.

What happens to you if social security runs out before you die? If we get a snarky Congress that just ends the program for anybody other than totally destitute people?

Are you happy subsisting on around $1000 or so a month? Do you think retirees are so out of it that they don't want a comfortable income and active lifestyle? If that is your notion, you are badly mistaken.

A concept of personal responsibility is that you manage your money and accept the consequences for mismanaging it. And if you squander your resources, then I guess you're at the mercy of county welfare or your kids. Social Security doles out a subsistance amount of money to you every month. What happens if that won't pay to keep a roof over your head or beans in the pantry?

 

[Ed Spacer]

No inflation.at all.
us treasury holds the accounts.
no wall street.
no government control or manipulation.
citizen controlled.

 

[OohPooPahDoo]

Yes,sir,inflation protected.
why?
because youre in co nt rol of it,no obe else.

How the hell are you going to achieve a 3% return in additon to inflation? On average that would be a 6.5% or so nominal return - what kind of risk-free investment can return that without depending on government subsidy?

Your solution to SS is to replace it with a system where the government guarantees a 6.5% nominal rate on money market accounts? Wow - way to wean us off the taxpayers support! LOL!

 

[Ed Spacer]

The only variable of failure is one behalf of the citizen.
these are private accounts,that are only controlled by the citizen,held by the us treasury.
the only way the.money moves,is if the citizen moves it.
only thing added is the interest once deposited.