D. Powell (1/29, Letters) asked if any supporters of privatizing Social Security were reconsidering their position in light of recent downturns in the stock market. The answer in my case is a flat “no.”
If Powell believes in selling when the market is low and buying high, I can certainly understand why he may love the way the government gives you so little for so much. However, for those of us who hold on to retirement investments over the course of 30 to 40 years, we cringe to think of the millions we would have if we had been allowed to invest our Social Security funds into safe investments over the course of a lifetime.
Instead, with the government handling our funds, we will get just enough to keep us slightly below poverty level.
What is even more insulting is the government has raised the age I can draw funds to 68 and will probably raise it again by my retirement.
This is real life and there are no guarantees, either from the market of the government. However, given their track record of creating wealth, I’ll take the markets.
David S. Salavitch