“It may be a ponzi, but until a better solution presents itself....’
Ask the Chileans about their government retirement system.
I that’s too exotic, talk to the people in Galveston, Texas.
Unfortunately the vast majority of the people have no idea how successful Chile and Galveston have been.
Both had the essential requirement, participation in a retirement plan that is self directed in investment stratagy amongst a group of low overhead conservative investment programs.