According to Ghilarducci, the system is not changing and evolving quickly enough to adapt to the changing society, and Social Security is in dire need of an expansion to make it mandatory that people save personally for retirement. That money would be a supplement to Social Security.(after the election...)
Vice President Joe Biden floated the idea, called “Guaranteed Retirement Accounts” (GRAs), in the February “Middle Class” report.
She has been humpin' this GRA concept since before the 08' election, and all the major inside the beltway investment adviser magazines covered it.
I got to give this commie progressives an "A" for persistance.....
Actually. If idiots like you hadn't help mess up education and screw up society humans would grasp this concept quite well.
All though I can't say what her stances are on other issues, but people like her are the same idiots that advocate Gov't spending and debt to get the economy going, tell people to SPEND to help the economy, then turn around and suggest ideas like this.
Thomas Sowell is right, these people get away with shaping society and hold no liability in doing so.
What part of Social Security failed? The mandatory savings on my part or the excessive plundering and spending on their part?
Put half of each person’s SS taxes in a personal retirement account, and we’ll have hit her admittedly modest savings goal. Converting SS into a fully funded system based on personal ownership, savings, and investment should still be the goal.
Ahh. From the NYT, of course. And again, people can't possibly have the knowledge to fend for themselves.
Only the government can do it. These people make me want to puke. A pox on ALL of them.
If one starts saving as a young adult, you don't need a lot of sophisticated investment strategies to try and make up for lost time. I don't think most people start worrying about retiring until mid 40's or early 50's. By then it is too late unless one can squirrel away 50% of income..
How much of this mad consumerism and inability to plan for the future is a result of the natural preference for the here and now as opposed to the future and how much is driven by a government school system designed to create consumerism?
http://www.johntaylorgatto.com/historytour/history1.htm
Schools work to make kids dumber so that they can becomes pawns to business and political management. The goal isn’t liberty, but control.
Right now the federal government does everything in its power to crush retirees. Interest rates on savings are essentially zero while inflation removes several percent every year. Active speculation with retirement savings is the only way to fight inflation - with the potential of serious investment losses late in life with no time left to wait for the markets to turn around. I guess the only thing left is to just steal whatever savings have managed to survive their attacks.
the tech bubble popping is what destroyed my parents retirement savings.
Right. Fidelity, Schwab, Morgan Stanley, et al don't have any financial expertise to offer their customers. And your company investment plans don't have financial advisors and counselors come visit regularly to discuss your financial plans.
That sentence alone gives away the author...you are in incompetent boob who cannot manage your own life. Better let the elite intelligentsia who graduated from Yale and Harvard and now work for government manage that part of your life for you. The same boobs who have run up $16 TRILLION of acknowledged debt and $222 TRILLION of off-balance sheet debt.
some years ago a commenter at an excellent blog, not my own
(I have none) remarked: Real savings requires avoidance of
1. taxes 2. inflation 3. risk. Think about this before
you blame the individual, although there’s much to be
critical about there.