The State-run “social security” programs ... - Deepstash

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The State-run “social security” programs ...

The State-run “social security” programs ...

... violate your rights to plan your retirement. Your Social Security taxes pay benefits for today’s recipients, and theoretically, tomorrow’s workers’ taxes will pay for your benefits. That's very different from investing because it doesn’t encourage responsible attitudes toward saving for the future. It is also far less profitable.

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  • You do not choose whether to participate.
  • You have no say in how the money is to be invested. Even modestly performing mutual funds yield higher returns.
  • You cannot withdraw in response to poor performance and pursue a highly effective one.
  • Gov...

  • The right to save for one’s future is a negative right: Others must refrain from interfering with my accumulating and investing property.
  • The Current Model seem to have positive rights to a retirement pension: Someone has a duty to support me in my retirement,...

  • Positive rights entail the duty of others to provide that which is being claimed.
  • Negative rights entail the duty of others to abstain from interfering with the pursuit of what is bei...

The current system is an entitlement program in which everyone gets to claim a retirement pension from the state (that is, from working taxpayers), regardless of whether they’ve been industrious and thrifty. 

You are not saving for your retirement at all; you are paying for...

The right to financial independence needs to be asserted—the right to work, exchange your labor for money, and to control the fruits of your labor

This necessarily includes the right to plan and save for your own retirement, free from coercion or interference.

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Why you should plan to plan ahead for retirement.

  • Getting stuck in the savings mindset. Saving should be formed as a habit. The amount saved can be increased over time.
  • Medical emergencies. With increasing age comes more health problems. Medical claims might not always suffice.
  • Inflation needs to be take...

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  • The aging population is causing fewer contributors.
  • More people are retiring due to increased longevity.
  • Corporate collapses, such as bankruptcy of Enron negatively affect private pension plans.
  • Defined pensio...

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Understanding personal finance

It is possible to make a budget work while still saving enough to retire. It starts with learning to change your habits so you can put money aside.

It is not that easy to make any sort of real, lasting change in your habits. You will have a few setbacks, and that's ok.

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