Flippin' FICA

I guess that a big debate going on right now is whether or not we should privatize social security. I have to admit that I haven't studied up big time on the benefits of doing it or on the benefits of not doing it, but I am going to give you my thoughts anyway. After all, what are blogs for? They aren't a source of credible information, right? Since the days of when I first started working (go Chuck E. Cheese!), I have noticed a nice little portion of my check going to the FICA people. We have heard over and over again that money is running out. There are just too many baby boomers and not enough people to support that. This is why the government developed 401K. It was needed to help offset the lack of money that people are going to get when they retire. Now, 401K rocks, especially if you work for a company that really helps out with that. The people retiring now have not had the advantage of being able to contribute to 401K their whole working career, so young people, start investing. OK, now back to my point. It makes me really T.O'd (I love you Napoleon) to know that I am feeding money into a black hole that I am never going to see, and if I do see it, it will most likely be when I am 95 because that will be the age of retirement by the time I get up there. So why privatize? I would love to see all the money I feed to FICA being used for ME when I retire. Right now we young people are getting the crappy end of the stick. We have to contribute along with everybody else and are going to get crap. So why not let us use the money we contribute to support ourselves when we retire? OOOO...amazing plan. I have been shouting this for years so it excites me to see some effort to move towards that. I can see some worries. If you don't make much, then the amount that you will have in your social security will not be great. I would venture say that the amount that you would get from your small little income would be more than what you will get without it being privatized. Ok, honestly I don’t really know about the other worries, like I said, I really haven’t studied up much on it. Maybe I am just a clueless girl spouting off with out knowing the facts, but I don't care, it's my blog! We will see what happens, but I think myself, along with a lot of other people out there would love to see our FICA money go towards something good.

Word of the Day:
superannuation