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Originally posted by Moneyguy1
[B]We already have Roth IRAs, Keough plans and others that should encourage people to save for the future, but do they? We have companies that "match funds", but how many people take full advantege of this gift? These are already "privatized" methods of saving for retirement. They exist now. Do we need another, especially whan so many people are not even taking advantage of what is already out there?
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The answer is obviously NO, but I don't think anyone is asking for another MECHANISM. Just let me do what I want, with the money that I earned.
Quote:
Originally posted by Moneyguy1
Planning to work far beyond accepted retirement age is a gamble. Health may be a factor and that is something one cannot predict with any degree of accuracy.
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Well, no one ever promised that you'd be healthy, wealthy or wise. These are all things which must be worked at. Neither is anyone guaranteeing that we will even survive to collect SS.
Quote:
Originally posted by Moneyguy1
Max out the IRA, the Keough or the deferred income plan. Plenty of opportunity there for individual saving. Look at the Social Security as an insurance policy to take care of those not so fortunate.
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I am maxed....and I do not count on SS for anything. The fact is that at the current rate, it will be worth NOTHING by the time I "retire". Why would you throw good money after bad? The money I have put into SS is a complete sunken cost and as I said, i will willingly sacrifice it provided the gov't would let me do what I want on a going forward basis.