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    Now don't hit when I refer to "privatization", or when I mention one of my own most hated financial products, the "annuity". Both are needed to permanently fix the Social Security mess, to get it away from peo
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    As an investor, I've always wondered why Social Security is such a problem. What's so difficult about managing this particular Trust Fund, and why is it so different from other investment accounts that pay out a constant stream of income? The private sector does it routinely with defined benefit pension plans and fixed annuities, so what's the big deal? Is Social Security failing because it hasn't been invested soundly, or is there some other reason?

    The most obvious explanation is politics, but we're running out of time for finger pointing, and Social Security is solvable in a surprisingly painless manner. It will require a whole new approach that uses old ideas and institutions in ways that most of us have pretty much given up on. As hopeless as the Bush Administration's Nicotine Patch for Social Security would have been, it pointed in the right direction. Now don't hit when I refer to "privatization", or when I mention one of my own most hated financial products, the "annuity". Both are needed to permanently fix the Social Security mess, to get it away from peop

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    t stream of income? The private sector does it routinely with defined benefit pension plans and fixed annuities, so what's the big deal? Is Social Security failing because it hasn't been invested soundly, or is there some other reason?

    The most obvious explanation is politics, but we're running out of time for finger pointing, and Social Security is solvable in a surprisingly painless manner. It will require a whole new approach that uses old ideas and institutions in ways that most of us have pretty much given up on. As hopeless as the Bush Administration's Nicotine Patch for Social Security would have been, it pointed in the right direction. Now don't hit when I refer to "privatization", or when I mention one of my own most hated financial products, the "annuity". Both are needed to permanently fix the Social Security mess, to get it away from peo

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    me other reason?

    The most obvious explanation is politics, but we're running out of time for finger pointing, and Social Security is solvable in a surprisingly painless manner. It will require a whole new approach that uses old ideas and institutions in ways that most of us have pretty much given up on. As hopeless as the Bush Administration's Nicotine Patch for Social Security would have been, it pointed in the right direction. Now don't hit when I refer to "privatization", or when I mention one of my own most hated financial products, the "annuity". Both are needed to permanently fix the Social Security mess, to get it away from peo

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    that uses old ideas and institutions in ways that most of us have pretty much given up on. As hopeless as the Bush Administration's Nicotine Patch for Social Security would have been, it pointed in the right direction. Now don't hit when I refer to "privatization", or when I mention one of my own most hated financial products, the "annuity". Both are needed to permanently fix the Social Security mess, to get it away from peo
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    Now don't hit when I refer to "privatization", or when I mention one of my own most hated financial products, the "annuity". Both are needed to permanently fix the Social Security mess, to get it away from people who are neither managers nor investment specialists, and to make the whole system work more economically. The purpose of this article is to get you to think about it... and to elect a hero with the guts to fix it. Unfortunately, Joe DiMaggio has left the building!

    Are you surprised that there is no "Social Security Trust Fund"... no investments and no Investment Managers. This is a gigantic Government designed and controlled Ponzi scheme that has worked incredibly well in spite of congressional tinkering and prohibitively high cost. There was always a tax plan for funding the benefits, but never an Investment Plan. And as difficult as it is for me to admit, no sophisticated Investment Plan is really necessary. We just need a new (reduced) contribution plan, one that isn't designed to fund every politically sensitive entitlement that compromises itself down

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