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Even with Volatile Stock Market, Personal Retirement Accounts Are Better, Safer than Social Security

bripat9643

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The liberal turds all claim Social Security is safer. Well, they're all wrong:

Even with a Volatile Stock Market Personal Retirement Accounts Are Better and Safer than Social Security International Liberty

Early last year, the Center for Freedom and Prosperity released this video, narrated by yours truly, making the case that the United States and other nations should shift from a tax-and-transfer entitlement scheme to a system of personal retirement accounts.

Some left wingers criticized the idea, saying the big drop in the stock market in 2008-2009 is proof that personal retirement accounts are too risky.

You won’t be surprised to learn, though, that they are wrong. It is true that retirement income fluctuates with a system of personal accounts, but that simply means that it is difficult to predict how much more income one would enjoy when compared to being stuck with Social Security.

Here is the key section from a just-released paper authored by my Cato colleague, Mike Tanner.

Despite recent declines in the stock market, a worker who had invested privately over the past 40 years would have still earned an average yearly return of 6.85 percent investing in the S&P 500, 3.46 percent from corporate bonds, and 2.44 percent from government bonds. If workers who retired in 2011 had been allowed to invest the employee half of the Social Security payroll tax over their working lifetime, they would retire with more income than if they relied on Social Security. Indeed, even in the worst-case scenario—a low-wage worker who invested entirely in bonds—the benefits from private investment would equal those from traditional Social Security.

. . . . . . . . . . . . . . . . . . . .

ss-funding-gap.jpg
 

Siete

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BULLSHIT ^^^^^
 

Moonglow

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Tell that to my mother in law that lost 35 years of retirement because the places they invested the retirement money went bust, now she at least has her SS...
 
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bripat9643

bripat9643

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Tell that to my mother in law that lost 35 years of retirement because the places they invested the retirement money went bust, now she at least has her SS...


Who is they?
 
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bripat9643

bripat9643

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Whoa yah, I think I'll let that blogger take care of my savings. Not.

The Cato institute is not a blogger. Furthermore, with an IRA you take care your savings yourself.
 

bendog

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your link was to Mitchell's blog, obscene child. But even if Cato officially adopts that bullshite, it's still bullshite.
 

BluesLegend

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The lying government has spent every last dime of my Social Security contributions on other crap even the extra money they forced me to pay into the system, and I'm supposed to believe the stock market is riskier?
 

PaintMyHouse

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Another DOA OP. In the Market you can lose nothing. In SS that only happens if the program is dissolved and since it is the most successful program in the history of the US, the third-rail of politics, that's not gonna happen until the US is no more.
 

PaintMyHouse

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The lying government has spent every last dime of my Social Security contributions on other crap even the extra money they forced me to pay into the system, and I'm supposed to believe the stock market is riskier?
Social Security is a Pay As You Go system, not a Savings Account. You were OPM for others and when you retire you will be living on OPM. Your money never was.
 
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bripat9643

bripat9643

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Another DOA OP. In the Market you can lose nothing. In SS that only happens if the program is dissolved and since it is the most successful program in the history of the US, the third-rail of politics, that's not gonna happen until the US is no more.

If Social Securities obligations become larger than the government's ability to pay, then a lot if retirees are not going to be getting any checks, and that point is approaching swiftly.
 

BluesLegend

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Another DOA OP. In the Market you can lose nothing. In SS that only happens if the program is dissolved and since it is the most successful program in the history of the US, the third-rail of politics, that's not gonna happen until the US is no more.

Hey dumb ass the CBO recently warned SS will be insolvent in 18 years.
 

LordBrownTrout

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SS should be an option. Its good for some who do not know how to plan their financials and allows them a small pittance after they retire. Overall, its just a ponzi scheme. You can't pass your own earned money on to anyone else besides your spouse.
 

PaintMyHouse

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Another DOA OP. In the Market you can lose nothing. In SS that only happens if the program is dissolved and since it is the most successful program in the history of the US, the third-rail of politics, that's not gonna happen until the US is no more.

If Social Securities obligations become larger than the government's ability to pay, then a lot if retirees are not going to be getting any checks, and that point is approaching swiftly.
They won't. It ain't gonna happen Chicken Little.
 
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bripat9643

bripat9643

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The lying government has spent every last dime of my Social Security contributions on other crap even the extra money they forced me to pay into the system, and I'm supposed to believe the stock market is riskier?
Social Security is a Pay As You Go system, not a Savings Account. You were OPM for others and when you retire you will be living on OPM. Your money never was.

Another name for that is "Ponzi scheme."
 

Siete

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Whoa yah, I think I'll let that blogger take care of my savings. Not.

The Cato institute is not a blogger. Furthermore, with an IRA you take care your savings yourself.

yeah, elderly people are capable of that ... furthermore, you're full of crap.
 
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bripat9643

bripat9643

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Another DOA OP. In the Market you can lose nothing. In SS that only happens if the program is dissolved and since it is the most successful program in the history of the US, the third-rail of politics, that's not gonna happen until the US is no more.

If Social Securities obligations become larger than the government's ability to pay, then a lot if retirees are not going to be getting any checks, and that point is approaching swiftly.
They won't. It ain't gonna happen Chicken Little.
Right. And we should believe you because?
 

PaintMyHouse

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SS should be an option. Its good for some who do not know how to plan their financials and allows them a small pittance after they retire. Overall, its just a ponzi scheme. You can't pass your own earned money on to anyone else besides your spouse.
It is nothing like a Ponzi scheme. There is no one at the top getting rich until it collapses.
 

PaintMyHouse

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Another DOA OP. In the Market you can lose nothing. In SS that only happens if the program is dissolved and since it is the most successful program in the history of the US, the third-rail of politics, that's not gonna happen until the US is no more.

If Social Securities obligations become larger than the government's ability to pay, then a lot if retirees are not going to be getting any checks, and that point is approaching swiftly.
They won't. It ain't gonna happen Chicken Little.
Right. And we should believe you because?
Because unlike you, they and I can do math.
 
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bripat9643

bripat9643

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Whoa yah, I think I'll let that blogger take care of my savings. Not.

The Cato institute is not a blogger. Furthermore, with an IRA you take care your savings yourself.

yeah, elderly people are capable of that ... furthermore, you're full of crap.

Plenty of elderly people I know are capable of that. How much brains does it take to leave your money invested in a S&P 500 spyder?
 

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