Tuesday, Feb. 8, 2011 | 2:02 a.m.
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Gordon W. Moss’ Saturday letter to the editor, headlined “Opportunity missed on Social Security,” was right on. We all would be better off if the Social Security money was invested despite the economic turndown of the past few years.
I would suggest a 401(k)-type system where your money is yours to use when you retire. You would still have the money deducted like now, only it would be deposited in a special account for you.
You would have several specified investment options. You would choose what percentage to put in each option that you choose.
When you retire, you would receive more in interest than you get now in Social Security, plus you would have the principal in your account to use when you need it or to leave to your heirs.
The government would save on the huge overhead of the Social Security Administration and we all would be financially more stable.
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