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A better system would be to let people save in their own individual retirement accounts. If you want to force companies to support retirement, force them to pa
by morgante 11y ago
A better system would be to let people save in their own individual retirement accounts.
If you want to force companies to support retirement, force them to pay into employee's retirement accounts.
The benefit of individual accounts is that they're a lot harder to raid or defund.
- toomuchtodo 11y agoExcept when financial firms skim off of personal accounts with excessive fees. Or the fact that Social Security exists as a form of social insurance in the event you're unable to save enough or lose all of your retirement funds. Your idea of only individual retirement accounts is a terrible one.
- morgante 11y ago> Except when financial firms skim off of personal accounts with excessive fees. Uh, then choose a different financial firm? I have $100k+ in my brokerage and pay about $10 a year in fees...
- tptacek 11y agoI hate fees as much as everyone else does, but excessive fees are not the reason so many individual retirement accounts fail.
- toomuchtodo 11y agoI don't disagree with you. My thesis is, it would be a terrible idea to switch pension systems like social security to individual accounts you're responsible for and could liquidate. That is not how insurance works!