How can Social Security be saved?
By bobmnu
@bobmnu (8157)
United States
March 2, 2010 11:53am CST
As the baby boomers approach the age of retirement and seniors are living longer, SS is is facing a financial crisis. How do we solve the problem with SS?
I would be interested in what you think can be done to solve the problem and keep SS solvent for years to come?
My suggestion is that the money paid into SS each month be invested and managed by a financial manager appointed by a Board of Control elected by the people who pay into SS. Politicians would not be allowed to borrow from the fund. You would have a record of how much you paid in and if you died before you reach retirement age there would be a death benefit paid to the survivor.
1 person likes this
3 responses
@Destiny007 (5805)
• United States
2 Mar 10
It needs to be privatized and phased out entirely.
Social Security was a bad idea.
Individual retirement accounts are the best way to provide for retirement... as long as they were exempt from government interference and taxes.
1 person likes this
@gewcew23 (8007)
• United States
2 Mar 10
Your money is your money, problem is your money has been taken from you all your life and given to someone else. Frustrating because you cannot say just let people decide on their own what to do with their money because everyone is paying for someone else. I really want to say the best thing would be to allow people to quite contributing to this ponzi scheme, but what about those already on SS. Those that are already on SS cannot just have their money back because it does not exist, their money has already been spent. So in away the inventors of this fraud has accomplished to create a never ending excuse to take money from one person and give it to someone else. So your answer might be the best, but it still is not right because people are still having their wealth taken from them without their consent. What if I do not want to participate? What if I want to put my money into a CD, IRA, under my bed, in the backyard, or put it all on black it is my money.
@bobmnu (8157)
• United States
8 Mar 10
While I like the idea of being able to control your own money I don't think it will work. There will always be those who invest foolishly and then the do gooders will want to help those poor fools. People have become so dependent on the Government programs that there will have to be something required for retirement.
@kingparker (9673)
• United States
16 Mar 10
I would agree with this suggestion, it might be one good idea to consider. As for now, our government borrow billions of dollars already from our social security fund, and we knew that our government is bankrupted. We won't be able to touch our social security fund when we reached the retirement age. So, what is the point. Should we still paying that SSC?
