The blog that I found interesting was by Gavin Trevino, “Privatize,To Big of a Risk?” The subject matter was privatizing social security. I found the subject very interesting. I was unaware the proposal for privatizing social security was going into consideration once again. Some facts and figures were given but I would have liked some more information. I enjoyed the pro and con approach taken by the author. He illustrated the arguments from both sides. Overall a good read.
I agree with the author. At first glance privatizing social security seems to be a possible solution. Being able to avoid cuts and tax hikes is always a plus. It sounds promising, being able to take control of your own investments. However, as Trevino points out not all retires are educated about the market. The catastrophe that is social security is unavoidable. Over 40 million post World War II baby boomers will reach the retirement age between the years 2010-2040. (socialsecurity.procon.org) I figure my generation will not be receiving any social security benefits. I know I’m not counting on social security as my retirement plan. There is just too mush investment risk. The first risk is poor investments. The second is the possibility of interest rates being low when an individual is ready to retire. At least with the type of social security in place now there is some protection. Our nation needs a solution to this looming problem
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