The importance of 'do it yourself' retirement

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  • Max Charlotte, NC
    June 17, 2013 5:38 a.m.

    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.

  • DVD Taylorsville, 00
    June 16, 2013 10:40 a.m.

    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 worth.

  • carman Wasatch Front, UT
    June 14, 2013 4:32 p.m.

    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 day-to-day basis.

  • Redshirt1701 Deep Space 9, Ut
    June 14, 2013 11:44 a.m.

    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?

  • junkgeek Agua Dulce, TX
    June 13, 2013 7:31 p.m.

    Ah yes, let's dump our money in a casino operation like the stock market.

  • Chris B Salt Lake City, UT
    June 12, 2013 6:23 p.m.

    The whole concept of social security is embarrassing

    People 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