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Most 401ks are probably in funds that automatically start allocating more and more bonds as they approach retirement age. And frankly, if I could stop contribut
by Auracle 5y ago
Most 401ks are probably in funds that automatically start allocating more and more bonds as they approach retirement age. And frankly, if I could stop contributing to social security and invest it instead I would in a heartbeat. It’s effectively a Ponzi scheme that relies on more and more citizens paying in. That’s unsustainable, and by the time I retire I’m sure they’re at least going to move the age to collect up.
- JKCalhoun 5y agoI've learned to relax about Social Security. I look at it as "diversification" of my retirement sources. I don't want all my eggs in the 401K basket either.
- Auracle 5y agoI agree with you there, but I certainly don't want it expanded and taking more of my income. When you're self employed it really hurts.
- eatsyourtacos 5y agoCalling social security a ponzi scheme while thinking your 401k isn't a ponzi scheme is completely backwards. Your 401k depends way more on people continuing to inflate it upwards. And you have ZERO guarantee, anything can happen. At least social security is a government backed program, and they can ALWAYS find more money. Maybe it's the best solution at the time, but they can. They can raise taxes, borrow, simply print more money. And don't nitpick these points, because yes I understand there are issues and it's more complicated.. but they can do it.