"Vic Smith" wrote in message
news
On Tue, 16 Dec 2008 10:54:17 -0700, "Canuck57"
wrote:



Too many are far too undiciplined to save. How about keep it but with a
twist.

401KL - 401K locked in. Your SSN taxes are the same but go into an
account
exclusively in your name. Forced savings if you will.

Locked into what. Enron?
I basically like the idea, but because it's "Social Security" it has
to be secure.
I don't see how you get past the gov guaranteeing it.

--Vic

Locked in to investments. Overall it will make money. You do not put all
the money in Enron etc. And who is going to pay those "guaranteed" Social
Security payouts? The government can only tax so much. They increase
payout age. Happening now. They decrease payout amounts. Happening next.
You and employer pay in say $15k a year for 40 years. You get back $1k a
month for maybe 8 years. starting at age 72. $600k in gives $96K out.
401KL $600K in average growth of 3% a year for 40 years. 3% times 40 times
$300k {would actually be n=more, but just figure average amount of money
invested}= 120% increase of the $300K == $160k Total at retirement $600k +
$160K = $760K you can start drawing on at age 60 if retired, Figure a
couple of the investments did not pan out, so you only get $600k to draw
from at age 60. Seems as if is a better deal than SS.