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<blockquote data-quote="bacha29" data-source="post: 3967516" data-attributes="member: 58386">It&#039;s pretty unlikely that any blue collar class worker would be able to build a portfolio large enough to create an income stream large enough to support them without the need to chew into the principal rather early on. Now some of you appear to be counting on your attractive UPS pensions but all you need to do is to look at what happened to pensions when the airlines filed for bankruptcy. The pension plans were tossed over to the PBGC&nbsp; which only pays 60% of the monthly benefit the pans they had to take over promised to pay. . The resulting load placed onto the PBGC was so heavy that it&#039;s solvency was very much in doubt. Yes, the return on dollars payed to SS is low but it&#039;s still backed by the full faith and credit of the US government. Not the case with private pension plans some of which are badly underfunded. And yes the loser in the game are those who don&#039;t live long. But then again when you&#039;re dead you&#039;re dead for a long time so what does a few years either way matter? Given how close we came to a complete collapse of the US economy and banking system any talk of privatizing SS&nbsp; today exists only on the tongues zealots and extremists.</blockquote>

[QUOTE="bacha29, post: 3967516, member: 58386"] It's pretty unlikely that any blue collar class worker would be able to build a portfolio large enough to create an income stream large enough to support them without the need to chew into the principal rather early on. Now some of you appear to be counting on your attractive UPS pensions but all you need to do is to look at what happened to pensions when the airlines filed for bankruptcy. The pension plans were tossed over to the PBGC which only pays 60% of the monthly benefit the pans they had to take over promised to pay. . The resulting load placed onto the PBGC was so heavy that it's solvency was very much in doubt. Yes, the return on dollars payed to SS is low but it's still backed by the full faith and credit of the US government. Not the case with private pension plans some of which are badly underfunded. And yes the loser in the game are those who don't live long. But then again when you're dead you're dead for a long time so what does a few years either way matter? Given how close we came to a complete collapse of the US economy and banking system any talk of privatizing SS today exists only on the tongues zealots and extremists. [/QUOTE]

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