Fixing(?) Entitlements

[Schneed10]

Originally Posted by Chico23231

This is my suggestion as well as raising the age to a more reasonable level to accommodate the rise in life expectancy.


Good stuff from everybody here...I just think this issue needs to raised with more urgency.

It does. Right now the only people that feel the urgency are financial professionals and those with an understanding of the time value of money. It's just not a large enough percentage of the population to motivate the votes on the hill.

GW Bush tried in 2005 to partially privatize and allow us to divert portions to our own preferred investments as individuals. It died on the hill, even with a Republican controlled house, and then when 2006 midterms came the Democrats took control of the house and his proposal was effectively squashed. It was such a shame because it truly would have made an immense difference - my retirement account is healthy today because I can invest it into targeted date funds - everyone could have done the same with SS under Bush's plan. But when people hear the program won't become insolvent for another 25 years, even Republicans pushed off the vote.

Such a lack of foresight. That was our best chance to do something. Now we can be assured nothing will happen until it's nearly too late.