Unformatted text preview: retires. One plan would take a portion of your social security money and put it into a private account that would gain interest over time. The other portion of the money will continue to pay those who are currently retired and collecting social security. By investing in long-term stocks the return is far higher than what you would receive from social security. By personally investing you are gaining control and ownership over your money. The next idea is a personal account combined social security. A Carve-out account would allow you to privately invest a portion of your current payroll taxes. This plan allows u to keep paying those current on social security along with those that are 55 or older. Social security’s pay-as-you-go system is falling because more is being taken out of the system than being put back in. Some form of action needs to be taken to prevent a larger amount of debt....
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This note was uploaded on 09/25/2008 for the course ECON 100 taught by Professor Laura during the Spring '08 term at Hudson Valley Community College.
- Spring '08