Whose fault is that, Bush's? The biggest fault of our socialist school system is their neglect in teaching todays youths the workings of financial planning. It should be mandatory starting with 7th grade. By the time they graduate they should have working knowledge of all the investment programs available and how to manage their respective incomes.
Beginning with the very first job anyone ever acquires, 15% of their earnings should go into a viable investment program, if they never see the money they will never miss it. By the time they are 50 years old they could conceivably retire............If they work till 60, they will never need social security.
If I had all the money I paid into social security in my own investment program, I would at least double what your government is going to pay to me 5 years from now....../.
“I would at least double what your government is going to pay to me 5 years from now....../.”
There would be a lot of variables involved in your statement, you are right, but perhaps wrong. Depending on your age, when you started, your yearly investment and what you invested in, you are absolutely correct in that it would be better than the government. I am thinking you may be wrong in how much better. I am thinking if you are set to retire in 5 years, you would have far more than double what the government is going to pay you.
As I stated, there are lots of variables in play and I am basing this on the stock market performance of the last 40 years and the Galveston model. I didn’t post a link because if you are not familiar with it (Galveston model) and are set to retire in 5 years; I don’t want to be the one responsible for depressing you. :)
Take care, WC