Most people, for all intents and purposes, have already ditched Social Security for private retirement accounts, although of course they still have to pay into it.
A proper perspective on stocks is to look at it over the period of time a person would save for retirement. The market is down right now, but only relatively. I put a great deal of my money into indexed funds back when the Dow was far below what it is now. Anyone looking to retire in the next few years who invested small amounts regularly in widely diversified stocks over the past forty years would be doing damn well.
Equity is an investment in actual wealth creation, so growth is possible.
At some point they'll probably eliminate the Social Security income cap, and the last vestige of pretense of Social Security being anything other than a straight wealth transfer. Means testing of benefits would also work, but have the same politically-uncomfortable result. I noticed that wasn't on the list in the game.
Off Topic » in reply to Social Security is a whole separate issue
Private accounts
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- Hey you, my soap's still in that box!