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Social Security vs. Private Retirement

Wallstreetatheist
Posts: 7,132
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5/7/2012 7:16:16 PM
Posted: 4 years ago
Is Social Security a good retirement plan? Economics professor Antony Davies shows that Americans stand to earn significantly less and assume more risk with Social Security than other investment options. According to Davies, taxpayers would be better off both in terms of financial security and return on investment by investing their money privately. Social security is extremely expensive, soon to be insolvent, and doesn't even offer taxpayers the most bang for their buck. For those reasons, Prof. Davies argues that it is time for the government to phase out Social Security. Davies' solution: the government should honor its obligations to current retirees while giving Americans the freedom to invest their money as they see fit.
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ConservativePolitico
Posts: 8,210
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5/7/2012 7:18:57 PM
Posted: 4 years ago
You can't say something like this! This requires people to actually save money and look after their finances in the long run. How dare you?

But I completely agree. You can gain so much more from a 501k or a retirement portfolio than you ever can dream of getting from Social Security.

I wish they'd do away with SS and make people obtain a little personal responsibility in the matter.
Contra
Posts: 3,941
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5/7/2012 8:02:38 PM
Posted: 4 years ago
It still doesn't answer the question of a stock portfolio's risk value, because they are inherently risky.
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Lordknukle
Posts: 12,788
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5/8/2012 4:17:15 PM
Posted: 4 years ago
At 5/7/2012 8:02:38 PM, Contra wrote:
It still doesn't answer the question of a stock portfolio's risk value, because they are inherently risky.

Risk is inherent in all financial instruments.
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