With Personal Retirement Accounts all of the money you Contribute in FICA taxes from summer jobs in high school and your early working years would immediately begin compounding to your benefit. Under Social Security, the early years of work give you no real benefit. If a woman marries and decides to drop out of the workforce for awhile to have children, with Personal Retirement Accounts, HER MONEY KEEPS WORKING. With Social Security you have no property rights to the money. Consider a single mother who works all her life and dies close to retirement age when her children are grown- with SS her children inherit nothing from her SS taxes, with a Personal Retirement Account, they would inherit the account. In a divorce settlement, with Personal Retirement Accounts, the retirement would be considered an asset and be divided just like any other asset- currently if a woman is married less than 10 years, she receives no retirement benefits from her divorced husband's account.
