Insurance and Social Security VII

    I thought we were at least temporarily finished with this subject, but Anonymous 4 has come into the picture.
    From what he says, I don't believe it changes any of our conclusions although he does seem to support that present recipients of Social Security should be taking their benefits.

He says as follows:

     I for one don’t think any guilt should be associated with retired persons receiving and funds from Social Security and using the funds for whatever they desire.  If that money, or even half of it would have been invested wisely the return would have been much higher.  Retired individuals paid into the lottery and they wound up with winning tickets, pay them and they should use the money anyway that they want to.  If one’s conscious will not let them spend the money for their needs, because they feel the funds are swindled or whatever, then how can they feel good about contributing the funds to charity?  That’s like saying I rob banks, but not for my own needs, I am Robin Hood and give the stolen funds to charity.  That simply doesn’t wash.

Unfortunately like any retirement plan ran and operated by crooks, SS will collapse under any scrutiny that it is put under.  The public at large (47/50) will not notice or pay any attention until the checks stop.  Then there will be a great outcry and rioting in the streets, but it will be to late. 

     Trust in the US government is nearly altogether gone.  I am through with them and at the age of 51, don’t believe that they will be able to deliver any retirement funds to me.  I think this is the reason the IRA was invented.  When I was in my early 20’s and the opportunity for IRA’s came about, I interpreted that as those in the government saying “you better take care of your own retirement”, so I have.  My fear now is that as the various government programs collapse there will be a run on private funds, ala Cypress Bank Raid, on US IRA funds.  That will be the signal that the end is near.