[kabar]

It's a great program for today's recipients who get far more back in benefits than they paid into the system. One third of today's retirees have SS as their only form of income. And for two-thirds of all retirees, SS constitutes more than 50% of their retirement income.

Most Americans have saved very little for their retirement.

[DesertRhino]

“Most Americans have saved very little for their retirement.”

The math is still the math. If an investment advisor said I will take 15% of your lifetime earnings, and invest it in any sane manner for 45 years,,,”but remember, this is only a cornerstone of your retirement”; you could conclude you were dealing with a fraudulent operation.

That’s should easily provide a strong, personally owned, retirement. Of course, in America you have to do that twice for at least 30%. Only half of which will likely ever see.

[CitizenUSA]

kabar: “Most Americans have saved very little for their retirement.”

And why should they when they’ve been promised Social Security? Even worse, if they DO have savings, those savings will have to be liquidated first while the person who has nothing will get a free ride from government.

Government is the problem. It’s providing the absolute worse incentives to the population at large. Responsible people are punished. Irresponsibility is rewarded! We must change it, but how to do so?

That’s why I’ve posted I think we need to carefully roll back government, including Social Security.

[dfwgator]

Most Americans have saved very little for their retirement.

Why should that be my problem?