No Signs of Retiring for Social Security Debate

Re “Experts Are at a Loss on Investing,” May 11: Peter Gosselin must be in the same camp as he portrays others in the article. Conservative indexed stock funds and bond funds are plentiful and require no effort to achieve results better than the current 1.5% earned on Social Security funds. Your negative bias and assumption that private accounts could not be done properly are misleading. Are you saying federal government workers are much smarter than the rest of us? And, by the way, it is voluntary.

The Times continues to put masked opinion pieces on the front page. Stop the negative approach and think positive; you will find it refreshing.

Don Black

Rancho Palos Verdes

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If I would have written Gosselin’s excellent article, I would have slanted it in an entirely different direction. The “creme de la creme” of the economics profession got it right, not wrong. They understand that what goes up, like the overvalued stock market, often crashes down.

They understand that with 100% guaranteed investment vehicles like CDs one can’t suffer a crash. In fact, what is not discussed in the article is that 100% guaranteed long-term CDs that pay 5% to 6% are available and have been for decades and the interest generated can be accessed on a continuing basis.

Such safe investments are so much better than stress-inducing riskier ones. The Nobel laureates want to live a stress-free life without worrying about their investments. That’s why they are doing it very right, not very wrong.

Steven B. Oppenheimer

Northridge

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Re “Bush Says Retirement Plan Would Make FDR Proud,” May 4: I continue to be puzzled by this president and his yes men pushing for individual retirement accounts, controlled by the investor. Gee whiz! How exciting! Did these people not hear of IRAs, also known as individual retirement accounts?

I have had one for decades. Each year I put in 2,000 tax-free dollars. I am the only one who controls this account! When I turned 70 1/2 , I started drawing from this account, in addition to Social Security, and am paying taxes on it and on my Social Security.

Social Security will not go bankrupt since it is backed by Treasury bills. Upping the cap from $90,000 will keep it going for many more decades. Please do not fix what ain’t broke!

Ingrid Altman

Downey