Social Security

[bbobb]

To much belief in the power of the stock market to make money is one of the things that helped cause the depression.

Seriously... the government getting into stocks is not a good idea... that's an incredibly risky thing to do with our money without us having any choice whatsoever what it's invested in.

[Scourge]

I'm not going to read through everyone's opinion above this, so feel free to ignore this post too, but I'd just like to say that Social Security is a Ponzi Scheme at best and theft at worst and anybody who doesn't think it's a better idea for you to control your own money instead of "letting" the government control it for you is wrong at best and retarded at worst. Please keep in mind that this post does not mean I want poor, old people to starve or freeze to death.

[Diff-chan]

To much belief in the power of the stock market to make money is one of the things that helped cause the depression.

Seriously... the government getting into stocks is not a good idea... that's an incredibly risky thing to do with our money without us having any choice whatsoever what it's invested in.

Investing in stocks is a good idea when youre young, in youre 20s, and planning for retirement. Over the decades your portfolio should shift into safer territory. Welcome to Investing 101.

Secondly... look at Wolffen's post again. If they use the federal system as the model, we will definitely have a choice.

The TSP allows federal employees to set aside retirement savings in tax-deferred accounts where workers may choose among five broadly diversified funds of stocks, bonds or government securities. "Index" funds are quite cheap to run because the securities they buy are chosen by a formula, to imitate broad stock-market indexes such as the Standard & Poor's 500-stock index.

Plus, again, we shouldnt rely on the government, *ever*, to provide for this stuff. But as long as I get the money the government is stealing from my paycheck every week back, Im happy and its just a little bit more to help me in my retirement years.

[Joust Williams]

The smarter investors came out OK from the GD though. It's the people who bought on credit and didn't know what they were doing that got hit. Granted, that was a LOT of people, but still.

[Cowutopia]

Saw on a show the other day about the prefrontal lobe and how it determines how good we are at long-term planning. Apparently, it doens't really mature until about age 25 and it's the first part to go, which is a reason you ought to invest more conservatively as you age, since you're more likely to do something impulsive with your funds.

[Calliander]

As cold as it is to say, I don't feel it is my responsibility to take care of other people's grandparents/elderly. Hell, I work at a nursing home. I love the people I care for. I don't dislike old folks at all, but it isn't my job to take care of society's elderly. If my grandfather has a need, then let me take care of him. If my parents become old and frail, and need money or assistance, let me and my brother arrange for it. It isn't the public's job to be robbed.

I agree with that wholeheartedly.

[Gohron]

Social security pays out so little that it's almost useless, anyone that thinks they can live on it is wrong. If you don't save up for your retirement then you're gonna get screwed whether social security is still paying or not. The system should just be done away with, it's not the governments responsibility to look after everyone's money so they can recklessly spend their whole lives and not think of what they're going to do when they get old.