Social Security

[C Pav]

Why was Social Security even ever started? Did the government think that people just didn't and don't know how to save for their retirement on their own? While I agree so many people don't it should be our decision on how we spend and save our money. We have so much taken out of our checks each pay day with the supposed "guarantee" of getting it back when we retire. Well what if we die? There goes that money plus the fact that we keep hearing how the fund will run out of money in some year coming up.

 

[nodle]

Looks like it started because we cared about old people at one time. <---- at one time.

A limited form of the Social Security program began, during President Franklin D. Roosevelt's first term, as a measure to implement "social insurance" during the Great Depression of the 1930s, when poverty rates among senior citizens exceeded 50 percent. The Act was an attempt to limit what were seen as dangers in the modern American life, including old age, poverty, unemployment, and the burdens of widows and fatherless children.

http://en.wikipedia.org/wiki/Social_Security_%28United_States%29

 

[ryanator]

It's all a Ponzi scheme done by the government. Just like any insurance, which obamacare will now be on a government level for our health care and ruin it.

 

[ccs729]

It is for all intents and purposes a Ponzi scheme. I dump nearly 4k a year into it, and

have no promises that I will ever get any of it back. The math is very simple, if the amount paid out is greater than the amount put in + interest, it cannot be sustained.

Like most government programs this has become more bloated, and thus more hands dipping into the kitty that never contribute to it, thus screwing those who do contribute out of what should be theirs.

Originally it was to be an optional program, and if it still were, and limited to those opt in, it would likely be a sustainable and healthy program.

 

[nodle]

I always hear my parents say we kids will never live to see it. The way things are going I tend to believe it now.

 

[ryanator]

I always hear my parents say we kids will never live to see it. The way things are going I tend to believe it now.

I think the government said this after Bush's reelection in 2004, and saying we needed a reform. However, it was just a hot topic they touched on to appease people at the time. That's why now we still pay in to pay out to the retires now which will eventually run out and we will need to rely on our own retirement accounts. What sucks is it's like we are putting in double.

 

[jmanz]

401k's and the stock market in general have replaced the decaying social security program.

 

[nodle]

401k's and the stock market in general have replaced the decaying social security program.

Which are unstable; well, the stock market is. The whole point was to be guaranteed to have that money when the time comes. I wouldn't trust money in the stock market this day and age, hoping that when you need it, it will be there for you. 10 years ago, sure, not this day and age. I mean, everyone is dumping into shit coins/Ai shit stocks/ oh wait, that is all that there is. A system set up for failure.

 

[jmanz]

Which are unstable; well, the stock market is. The whole point was to be guaranteed to have that money when the time comes. I wouldn't trust money in the stock market this day and age, hoping that when you need it, it will be there for you. 10 years ago, sure, not this day and age. I mean, everyone is dumping into shit coins/Ai shit stocks/ oh wait, that is all that there is. A system set up for failure.

10 years ago you said the stock market was a scam too

 

[nodle]

10 years ago you said the stock market was a scam too

Everything is a scam.

 

[jmanz]

Everything is a scam.

There are no guarantees in life, besides death and taxes of course, but it seems apparent to me (pretty obvious) they are letting social security die and creating emphasis with the new stock accounts for kids...the system for the new generation. A concern would be a new socialist regime who takes from the new wealth creation via taxes and distributes.

 

[nodle]

Something is going to be set up. How are they going to offset all these robots replacing workers, etc. Something will have to be done, or you're going to have 75% of your population out of work with no income coming in. Almost sounds like a pyramid scheme being set up. What stocks are these accounts for kids being invested in? Who has the say? I am sure that they are tied to politicians or their families. How is that fair to another company, who has the say so?

 

[jmanz]

Something is going to be set up. How are they going to offset all these robots replacing workers, etc. Something will have to be done, or you're going to have 75% of your population out of work with no income coming in. Almost sounds like a pyramid scheme being set up. What stocks are these accounts for kids being invested in? Who has the say? I am sure that they are tied to politicians or their families. How is that fair to another company, who has the say so?

Right now the Trump accounts for kids are basically mirroring the current large S&P 500 funds. So yes, the largest companies in the world such as your Nvidia, Google, Apple, Amazon's of the world hold the highest percentage by weighting. Same as most people's 401k's.

 

[nodle]

Right now the Trump accounts for kids are basically mirroring the current large S&P 500 funds. So yes, the largest companies in the world such as your Nvidia, Google, Apple, Amazon's of the world hold the highest percentage by weighting. Same as most people's 401k's.

See, that's not fair to other chip makers or competition. How can they just turn people's money over to them without the people having a say? Isn't that considered a monopoly? A fair and free market gives people choices; this is taking your money and giving it to whom we say you give it to.

 

[jmanz]

See, that's not fair to other chip makers or competition. How can they just turn people's money over to them without the people having a say? Isn't that considered a monopoly? A fair and free market gives people choices; this is taking your money and giving it to whom we say you give it to.

It gets automatically rebalanced...so if other companies do well, and the current leaders start failing, the new ones get a higher weighting. It's one nice part of a fund vs investing in an individual company. Especially for those who don't have the time or the interest to pay attention to such things. The funds don't just hold 5 stocks. They literally hold 500+.

 

[nodle]

All I have to say is the government better have my social security (retirement) ready when I get there.