RE: Privatization Works

[Al Abbott <al_abbott@csi.com>]

>> The problem I have with privatization is that I have 
>> absolutely no knowledge of the Stock Market. I wouldn't 
>> have the slightest idea of how or what in which to invest. 
>> I have a feeling that most of us on Social Security are 
>> in the same boat. 
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This is a fair concern. The solution is for private retirement
account plans to be set up so they offer a mix of stock, bond, and
money market funds with relatively conservative goals. With these
you can split up your contributions. Younger people would probably
lean toward a larger share of stocks, older people might prefer
bonds or money markets. The percentages could be adjusted easily
on an annual or other basis. After a time, seeing the quarterly
statements of your investments will be educational. It will be your
money. You will have a direct say in how it is invested. You will
see it accumulate. I know of no better way to improve capitalism
than to see each citizen become one.