Think you don't have to worry about Social Security until you have one of those license plate thingies that says, "My Other Car Is a Golf Cart?" Not so according to Students For Saving Social Security. They're on a mission to make young people care about retirement, or at least their paychecks. Although nonpartisan, the grassroots group of college students, advocates a typically conservative solution — private ownership of Social Security accounts.
The "S4" website explains: "our very first paychecks will be taxed from a system that cannot fulfill its promises to us." These students believe it is unacceptable that politicians ignore the opinions and welfare of young Americans when discussing Social Security reform. To see what the recommend, read more.
The students want the government to give young people ownership of their money, by allowing Americans to decide for themselves how to invest their Social Security funds. But, what if they invest poorly? Will they be out of luck with no retirement funds? Perhaps the next generation of Americans will be out of luck anyways, as the system is headed for bankruptcy.
Today, the government's yearly assessment of Social Security determined that resources will be depleted by 2041 and that the Medicare trust fund, which pays for hospital benefits, will be empty by 2019. Do you have any expectation of receiving Social Security income when you retire?