Social Insecurity anyone?

Question

What would happen if the social security pyramid scheme we are paying into now was abandoned in favor of self directed investments. Do you think most people would actually invest their money, or would they just spend the extra money they would then have on their paycheck. What would YOU do?

Answer 1

If the system we were paying into now was abondoned, millions currently retired, and millions more very close to retirement, would be starving in the streets.

Answer 2

I think everyone would spend all of their money and leave very little if not nothing for their own retirement.

I would save and invest my money for retirement.

I also believe that most people would say they would save and invest but likely spend it all anyway.