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Why isn’t Social Security privatized?
The privatization of Social Security would not create an equal retirement opportunity and could lead to a wider wealth gap, as wealthy people can take more chances when investing.
People who cannot afford to invest enough or have limited investment experience could find themselves with little or no financial security when they reach their full retirement age (FRA). Not everyone can afford a financial advisor to help make sure they are making financially beneficial decisions.
The current system allows you to have an idea of what you will have available when you retire, but the unpredictability of the stock market could rapidly change for the worse, and you could find yourself unable to retire due to a large financial loss.
This is a very controversial topic. Click here for more on why it may not be a good choice, and read the full article by Diego Perez Morales on MSN.com
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