Social Security and Managing Your Assets

Re “Bush Recasts Message on Social Security,” April 29: For months, we’ve been warned by the president and the GOP that, left unfixed, Social Security benefits will start to erode for our grandchildren. Now the president proposes cuts in Social Security that will erode benefits not just for my grandchildren but for us baby boomers. Clearly we’re better off doing nothing in this equation.

Jesse Albert

Los Angeles

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The president’s suggestion for individuals to manage their own assets is not a new idea. When Social Security was enacted, citizens were warned that they should not rely on it alone for their retirement. They also were encouraged to save and invest. Many did manage to do that and are now enjoying a comfortable retirement. Others did not invest. Some were not financially able to do so. For these individuals, Social Security makes up the sum total of their retirement income, and they are thankful for those payments.

We do not need to talk about managing our own assets. Americans have been doing that for years. Social Security has worked well in the past and it can continue to work well in the future if we don’t rob it. If Republicans and Democrats don’t have any ideas as to how to save Social Security, AARP does.

Margaret Finley

Banning

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If the future workforce won’t be able to generate enough wealth to support Social Security, how will it generate the extra dividends to pay to private accounts in lieu of Social Security? There is only one workforce, not one for Social Security and a different one for dividends. If the workforce will be too small to support the future retirees, it doesn’t matter how retirement is funded, whether by Social Security or dividends. There won’t be enough money in either case.

Robert C. Mason

Simi Valley