Originally Posted By: Hankster
401K's are the model for what I would like our Social Security System to become. Read up on what they have done for the the people of Chile. Retirement plans that you decide on. Want to work until age 50 then spend the rest of your days fishing? Visit one of Chile's retirement counselors and they will tell you how much of your income you need to invest in one of many secured mutual funds per year to do that. Want to work until you're 70 and have a lavish retirement. You have that option too. Good for business, good for the economy, good for all of the retirees that have used it since the 80's.


Don't think this is a good idea. Chilean program is often cited as an option to Social Security but it really isn't working as well as Social Security. Just another scam to fleece the flock thru undisclosed fees. Only ones who seem to like it are groups like Cato and maybe Rush dito heads.

http://knowledge.wharton.upenn.edu/article.cfm?articleid=1263

http://craigwestover.blogspot.com/2006/09/chile-krugman-and-private-retirement.html

http://mediamatters.org/items/200506150009


Edited by stever in everett (09/18/08 12:46 PM)
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