Social Security was never meant to be a retirement plan. It is just a
supplement. I wouldn't rely on it at all. People need to save their money
or they won't have enough to live on. It is really that simple. A well
diversified portfolio of blue chip stocks, bonds, and some real estate will do
the trick. Nothing too risky. I wouldn't have more than 5% of my portfolio
in anything high risk like precious metals. Plus, with life expectancy so high
these days, people need to work well beyond age 65. When Social Security was
implemented, life expectancy was 67.
It makes it more difficult to effectively save up when during your career the
trend toward sending your type of work repeatedly gets sent to China, India and
other nations that allow people to starve to death while working for a couple of
dollars a day. Several reboots like that in life will harm your lifelong net
Educate yourself, and own equity in good businesses for the long haul.
Don't worry about how the market prices your long term assets on a
To "junkgeek" there are other options than the stock market. You can
buy assets that generate money for your retirement. There is always the
precious metals market for savings. You can always just open up a CD and store
your money there.The thing is control. Do you want to control your
retirement, or do you want to hope that the Feds don't change SS on you
before or during your retirement?
Ah yes, let's dump our money in a casino operation like the stock market.
The whole concept of social security is embarrassingPeople
aren't disciplined enough to save money, so we tell the government to take
some of our money, waste money handling it year after year, and then give it
back to us(but only a little at a time) when we retire