Moneyplan Sos With Steve Stewart | Budget Wisely | Get Out Of Debt | Pay Attention, Not Interest

#32: Ashley Barnett, Personal Finance Blogger from MoneyTalksCoaching.com, shares her thoughts on Social Security. We know the system is broken -- but can it be fixed? She has an idea and she wrote about it in her blogpost "An Argument For Privatizing Social Security".  Ashely talks about who Social Security is for, it's not just for retirees anymore, and how employees only pay 4.2% towards FICA (Federal Insurance Contribution Act, or payroll taxes). To repair the system and maintain it in the current state that is it in can be any one of the three following options: Lower Benefits Increased Taxes Borrow (more debt) I don't like any of those options, so Ashley explains to us the benefits of Privatizing Social Security: Your money stays with you Unused funds can be inherited The government can't reduce or withdraw your benefits Privatizing sounds scary, doesn't it? Our MoneyTalksCoach guest uses practical math to explain how Funding Private Accounts, even in a conservative investment option, will net someo