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  1. #1

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    An Idea of how to fix social security...

    My thoughts on fixing social security. I believe they should make it where the amount you put into social security decides what age you can retire. Not the other way around. The more you make, the younger you can retire & you should be given the choice to pay more into your social security allowing you more money when you retire or allowing you to retire at an earlier age.

    Unlike 401K, you can never withdraw the money early but like the 401K, it can't be taxed, even if you put your whole paycheck into your social security. The social security should be realistic. For example, the retirement age would still probably need to be higher with my idea just like it needs to be higher with the current structure but with this idea, you are more responsible for for your retirement.

    You should also be given the choice to opt out of paying social security just like you can opt out of 401K. Also, you if you die, your family should get your social security regardless of your kids age. For example, from what i understand, if your wife is deceased & your kids are over the age of 18, the government keeps your social security. Under my idea, it doesn't matter what age your kids are, it will go to your wife & if she is deceased, it will go to your kids. Unless expressed differently in a will. Just my thoughts though.

    Now this is more of a blue print & it needs more specifics. I'm no expert on health or stastics on the average life span of a human being & how much someone should be given every year. So it would needs to be looked into more but I hope this idea can again, start the discussion.

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