The Iron Yuppie
Thought[ful|less] coverage of news, politics, technology and anything else that catches my fancy.Wednesday, May 11, 2005
Responses Galore!
Whether you like private accounts or not, you've got to admit that there's something fundamentally wrong with investing long term in a zero beta investment. Isn't THE fundamental rule of savings to move from risky to non-risky investments as the individual approaches retirement? Combined with the fact that the SS Administration is theoretically managing a retirement portfolio for a hugely diversified population, wouldn't this allow us to take on even greater risks?
I'll rub your face in a nice concept you posted here once: "What would it take for you to change your mind on this issue?"
ACK, hoisted on my own petard! Actually, no, I'm a huge fan of personal private accounts; I have an IRA, a 401(k) as well as my own private (fully taxed) account. Further, managed risk is exactly the idea behind savings; again, I must totally agree with you.
My only problem with the whole solution being proposed was that it would solve (in some way) the SS shortfall, which it cannot. Further, there does seem to be something impossible to it. If it was that easy to get higher returns, wouldn't everyone do it? Anyhow, my net is that I think we already have a number of methods to offer private accounts; I have no (non-cynical idea) why the Bush Administration is pushing yet another one.
For Bush's plan to eliminate the SS deficit overall, I love it! Yes, it's kind of a socialist redistribution of weath thing over time, but I honestly think it's the right thing to do. If you make enough money to be saving extra anyway, SS payments do not factor in as much to your retirement income as it does for the average worker. Since I can say that I'll be in that top category, I can say (as a clearly representative member of the top category since it appears that I'm so in synch with the rest of my top category folks (</sarcasm>)) take the extra money and give it to someone who needs it. I'm pretty comfortable with that.
D
Archives
10/01/2003 - 11/01/2003 11/01/2003 - 12/01/2003 12/01/2003 - 01/01/2004 01/01/2004 - 02/01/2004 02/01/2004 - 03/01/2004 03/01/2004 - 04/01/2004 04/01/2004 - 05/01/2004 05/01/2004 - 06/01/2004 06/01/2004 - 07/01/2004 07/01/2004 - 08/01/2004 08/01/2004 - 09/01/2004 09/01/2004 - 10/01/2004 10/01/2004 - 11/01/2004 11/01/2004 - 12/01/2004 12/01/2004 - 01/01/2005 01/01/2005 - 02/01/2005 02/01/2005 - 03/01/2005 03/01/2005 - 04/01/2005 04/01/2005 - 05/01/2005 05/01/2005 - 06/01/2005 06/01/2005 - 07/01/2005 07/01/2005 - 08/01/2005 08/01/2005 - 09/01/2005 09/01/2005 - 10/01/2005 10/01/2005 - 11/01/2005 11/01/2005 - 12/01/2005 12/01/2005 - 01/01/2006 01/01/2006 - 02/01/2006 02/01/2006 - 03/01/2006 03/01/2006 - 04/01/2006 04/01/2006 - 05/01/2006 05/01/2006 - 06/01/2006 06/01/2006 - 07/01/2006 07/01/2006 - 08/01/2006 08/01/2006 - 09/01/2006 09/01/2006 - 10/01/2006 10/01/2006 - 11/01/2006 11/01/2006 - 12/01/2006 12/01/2006 - 01/01/2007 01/01/2007 - 02/01/2007 02/01/2007 - 03/01/2007 03/01/2007 - 04/01/2007 04/01/2007 - 05/01/2007 05/01/2007 - 06/01/2007 06/01/2007 - 07/01/2007 08/01/2007 - 09/01/2007 10/01/2007 - 11/01/2007 11/01/2007 - 12/01/2007 12/01/2007 - 01/01/2008 01/01/2008 - 02/01/2008 02/01/2008 - 03/01/2008 06/01/2008 - 07/01/2008 07/01/2008 - 08/01/2008 08/01/2008 - 09/01/2008 10/01/2008 - 11/01/2008
Subscribe to Posts [Atom]