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Wilravel is right in that The elderly were often very poor before the start of SS. SS is not that big a help for us smart, crafty, hightech internet users who are so smart and we understand everything. I mean, if you are a member of TFP it's like being a mensa overachiever. But not everyone is like that. Every day I sit down with people and explain to them that pulling all their money out is a bad idea. That borrowing from their accounts is taking away opportunities. That discontinuing contributions is bad, because you are not "going to do something useful" with that money, you will just spend it, and set your retirement back. And these are teachers and administrators. They don't understand money, just like most of the population. So we have pensions, and SS. The average individual investor earns a little over 4% per year. The average institutional investor, over 8%.
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