Question Details	Asked By	Asked On
Don't know much about SS reform	sapphire630	01/11/05
I keep hearing people oppose it because they are afraid their money would be lost in bad stock market investments (other than that I don't think they have any idea better of an idea of the reform than I do) I am for it if it is done in a way that will work and guarantees to ensure the government can't mess it up? Like why can't the money be invested like the 401k's? Why can't they put limits on the changes they are allowed to make down the road (so they can't end up taking money away from what started as a good system)? I heard that Chile or somewhere has personalized system where they get way more than the chump change we get when we retire. Why couldn't we use them as an example?
Clarification/Follow-up by paraclete on 01/12/05 4:25 pm: Yes Tom, it is possible to both set up your own Superannuation Fund and to direct the level of risk for the investment in a corporate fund. Thus the risks can be spread between Bonds, Stocks, Property, Cash as would be prudent to do so. You can put it all into growth or into cash if you want to. Most people here have money in a corporate fund, with investment managed by fund managers. What is not possible is to get access to the funds before a certain age.
Answered By		Answered On
paraclete		01/11/05
If you are looking for an alternative I would suggest you examine the Australian system, but you do have to have a system where people are restricted from being sepeculative in their investment choices, because it is in speculation that the risks cannot be assessed by the individual and where much money is lost. The purpose of investing for the future is that the funds grow and are not eroded by foollishness.

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