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I would opt out in a heartbeat. Even with the volatility in the stock market, my 401K actually hasn't done that badly. I am diversified and not all in stocks. Give me another 7% of my money plus an employer match to invest every year until retirement....HELL YEAH. That's a no brainer.
Plus, as a byproduct it would mean less money for these crooks on Capitol Hill to spend.
Awesome Neil!!! I'm right there with you, i'd love to have the ability to invest the extra money that would come back to me from not paying into SS and Medicare. I'd add most of the extra to my ROTH IRA and then any extra to my personal investing accounts. I'd also increase the amount i pay into my 401k. My company does not match right now , but if they did i certainly would be participating in the program.
I would opt out and all the money I have put into it I expect a check from the government since they seem to have no problem bailing out companies maybe they can actually give me the money I put into the broken down system.
I would opt out and all the money I have put into it I expect a check from the government since they seem to have no problem bailing out companies maybe they can actually give me the money I put into the broken down system.
Liberty i second your response. Just give me my money back and I'll invest it as i see fit. Haha if the dollar keeps falling I'll just use the bulk of it to invest in gold, so I'm not losing money, on inflation. Plus gold is a strong commodity that holds it value and never goes down in value, like my US dollars, which are going to always be worth considerably less, as time goes on, due to inflation.
Hey just curious how many other City Data post will opt out of social security if Dick Armey's law suit goes through and gives us the option???
I know i am!!
I would not, I am getting closer to that day I can draw it and I paid in for a long long time, it seems to be the only way I will get back my investment. If I were 20 something I would opt out of it.
Casper
I have every doubt in the world, the way social security stands now, to ever see a dime of the money I put in. Once they took it away form a savings account like system and put it into a transfer payment system we got screwed for any time where the population of retirees is going to exceed the people working.
If it means I can take that money they deduct from my paycheck for SS and fund my own retirement, then yes. I'd opt out.
Yes, that's exactly what i want it for.
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, but if they did i certainly would be participating in the program.
