Quote:
Originally Posted by Keedy
Bush's idea was and still is good. He was talking about putting just a small percentage of the 15% that we contribute with the employer to SS. The market goes up and down but it has steadily risen alot in the last 15 years or so. If the SS collapses under the weight of 78 million baby boomer's, the money that was put in your private account will still be there.
But in your case, Cologal.....I bet if Obama suggested it or anyone with a "D" after his name suggested it....you would think it was a great idea...right?
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First:
the money that was put in your private account will still be there.
Be serious....most everyone lost 15-25% on all investments.
Actually, in this case, that would be a big NO. My childhood experiences have made me very leary of the Stock Market. For the "investor" it is much like going to Vegas. The people who make money are the dealers and the house. Just look at things now.....the big investment firms got bailed out, received their expect bonuses and now are showing big profits. Not so in my 401k.
This is history about 401K pension plans in Nebraska...they were touted has being the answer and now years later they are in the dustbid.
The only ones who would have benefited by this plans was Wall Street.