Social Security Controversy

I'm not sure that I fully understand the controversy that is brewing between the government on one hand and the social security administration on the other over the investment of the money saved up for the people's retirement.

The deputies say that the government is scheming to put its hands on the money while the labor minister says that it is not; and as far as the government is concerned everything stays the way it has always been.

It seems to me that this misunderstanding over the difference of opinion stems from the over all inherent misunderstandings between the executive branch on one hand and the legislative branch on the other.

There were rumors the other day about a covert impending government reshuffle, or even a government down fall and total replacement, but then again there were rumors prior to that about a dissolution of the Parliament.

Who knows where the truth is, however, politics in its very own nature is always full of speculations, rumors, leaks, impending schemes and so on and so forth. I'm writing today only to say that I'm in favor of having part of the social security monies 25-30% invested by the private contributing individuals themselves and not the corporation or the government.

If nothing else make this option available for the new contributors since the senior ones are probably too scared to invest any of their money in private account, and would rather have a secured monthly income once they decide to call it quits, or once they become disable and can't continue working. Their risk averse is very understandable since the cost involved may outweigh the benefits that will be gained by investing in private accounts.

By contrast, young people are dare devils by nature, they would be willing to go for it, for them it is a matter of make it or break it, they don't want to rely on limited amount of monthly income after say 45 years of working.

By having a portion of their contributions combined with their employers contributions invested in private accounts may yield on the long run a much better revenue than the one yielded by the traditional slow growth, low risk type of investments.

About 8 years ago, I went into my own self managed retirement plan totally and completely severed away from the social security administration, and you can't imagine the savings that I have already gained. It is almost triple the amount that would have been realized have I stayed enrolled in the traditional social security retirement plan.

I understand that this type of talk is too early for you, and some of you have never even entertained the thought about retirement, but believe me time go by real fast, it was the other day that I finished high school and college education, it was the other day that I started my first job, and here I'm already thinking about a secure income during my golden age years.

I think that whether you are 18, 30, or 50. You should always think about what type of life would like to enjoy once you stop working, and whether you have the wherewithal for all of your outlays need.

Believe me it isn't that easy, you need to begin your savings and your investments right now, don't delay the decision of saving and investing until later, life will catch up with you and before you know it you will be begging people for money when you are old, and you know how that feels!