Social Security Privatization

Congressman Brad Sherman (D-Sherman Oaks) opposed privatization of Social Security, which would allow many of us workers the opportunity to invest some of our Social Security taxes in the stock market.

As a certified public accountant, the congressman should understand that when dollar-cost averaging (adding fixed amounts regularly to volatile investments), the investor is better off in the long run if prices do rise and fall. Under this strategy, more shares are accumulated at lower prices and fewer at the higher prices. Over time, more shares equate to higher returns--assuming that prices do not go down and never recover. Who believes that U.S. bankruptcy is near?

It is our earnings and our retirement at risk here, not Rep. Sherman’s reelection. Sorry, but you are absolutely wrong on this one.

RICK FARWELL

Westlake Village