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As an American in their late 20s I don't know anybody who thinks they'll see a dime out of social security. We know we're paying into it to keep current retiree
by madgar 10y ago
As an American in their late 20s I don't know anybody who thinks they'll see a dime out of social security. We know we're paying into it to keep current retirees alive and we know that just won't happen for us.
- Aaargh20318 10y agoThis is not even social security. This is a private pension. Theoretically, the money is invested and you'll make a nice profit on it. In practice, the only one who's making money off it are the insurance companies. My pension fund is actually worth less than the amount I paid into it, because all the intermediaries want a cut for their 'services' (whatever those may be). It's like being legally required to flush money down the drain.
- madgar 10y agoI know the difference between pensions and social security. I also know that some of the commenters in this thread are talking about pensions without distinguishing between public and private pensions. I also know that there is an enormous amount of capital in the form of public pensions and that public pensions are often invested with relatively few restrictions compared to private pensions. (At least in the US?)