posted on May, 19 2006 @ 07:34 AM
As I sit here watching my 401K go down the drain over the last week or so, I'm reminded of a concern I have with the whole system and wonder if we
aren't being set up by the government, big business, and the very wealthy.
As most of you may know by now, there will most likely be no social security available for us generation X'ers (30-40 year olds) and beyond to rely
on for retirement once the baby boomers suck it dry. Even though each of us have been faithfully (or should I say forcefully) dumping huge sums of
money into this broken system for nearly our entire adult lives, we will never see any of it come retirement time.
So, the government and corporations now tell us that, in addition to paying social security, we should also invest as much as we can in 401K programs.
In fact, G. Bush has been promoting a system where some of the money currently spent on social security could be used in a government type 401K
program instead.
Who does this benefit?
The concern I have is that we are investing out money, our hopes and dreams of a decent retirement, into a system that benefits big business and the
wealthy. What happens when the rich, who in many studies (sorry I can't back this up but have read about it in a couple books) can manipulate the
stock market, and take profits, when ever they please?
I'm scared to death that I am investing my hard earned money into yet another system with nothing to show for it in the end. Only this time it's the
rich that will get richer by manipulating the markets and take their profits leaving the hard working public high and dry.
Does anyone else have these same fears? Please help me believe that I won't have to work till I'm 100.
[edit on 19-5-2006 by mecheng]
[edit on 19-5-2006 by mecheng]