Another Week Gone

I can't believe it has been another week since I last blogged. Things should settle down at work again pretty soon so I can get back to my regular schedule of daily blogging.

So lets talk social security today. Now I have not had a chance to read the whole proposal for personal accounts, but I think I have the gist of the idea.

There are those who believe that we are better off with the government maintaining the status quo and giving us a small return on our money. Then there are those who think that they can reap a greater return on their money if they chose to invest it themselves.

As for me, call me a little bit skepticle, but when I needed to buy a new toilet seat, I didn't spend hundreds of dollars to do so. Same thing when I went to buy a hammer. The point is that when it comes to my money, I would much rather take my chances with me than with the government. If I choose to invest in a personal account (and it is a choice, no one has to divert any money away from the current system) and it turns out that I haven't made the wisest investments, well then I have no one to blame but myself.

Before you tell me that I will just be a bigger burden on society and the government will have to come to my rescue, remember that this is just a portion of what will be paid out by SS. It will be what it was always meant to be. A supplement to my own retirement plan. That, my friends, is all social security was ever supposed to be.

For those of you who don't think that this bill will get through congress, Dick Morris has this article saying that you are wrong.

As for the affordability of setting up these accounts, I believe it is far more affordable now than in 13 years when we start paying out more than we are taking in.