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Letter: Social Security is a poor investment

I don't know how Mr. Foley (letter to editor published Sept. 8) can say Social Security has been so successful. Obviously he has not done the calculations like I did a few years ago.

I don't know how Mr. Foley (letter to editor published Sept. 8) can say Social Security has been so successful. Obviously he has not done the calculations like I did a few years ago.

If the money the government confiscated from my husband's and my moderate earnings had been put into U.S. savings bonds in our names instead of dumped in the Social Security system, we now would be receiving between two and a half to three times the monthly income from those bonds than we do from Social Security. Or, if we had been able to invest that money in the stock market index funds, even with all the ups and downs, we would be able to receive eight to 10 times the amount of our Social Security checks. Social Security is a very poor investment!

Most people probably need to be forced to save but it should be in personal accounts that earn real interest and dividends, not a slush fund that the government can spend and put IOUs into and give you virtually no real earnings.

Barbara Kirtz

Olivia

Related Topics: OLIVIA
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