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Originally Posted by willravel
That's a social security program we can all get behind.
The risk of having a recession or inflation damage your investment is there when your investments are private. Social Security is supposed to be an investment without those risks.
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How is that possible? Social Security is in US dollars. The dollar is no longer pegged to the Gold standard. Social Security will and is being affected by inflation. That's what my question was earlier. Can any retirement program possibly keep up with the inflation we've seen since 1933 (besides outright speculating which is basically gambling)? The only thing I know of is hard assests like land or precious metals.
That's why I'm sticking with gold for savings/retirement.