Privatization of America's Retirement

The stock market outperforms  Social Security's average return and would give Americans a richer retirement. Since Social Security is expected to lose tremendous amounts of money in the upcoming decades, many people have put forward a plan to privatize the system. Privatizing the system would rely on the stock markets to invest the American people's retirement. Many studies show that the stock markets average return outgains Social Security. President George W. Bush in 2005 argued Privatization "could top [Social Security] easily if they were invested even partially in stocks" (Bernstein). Stocks would give Americans independence over their retirement which is important because it does not rely in the government. Congress can change the rules of eligibility any time they want because they enacted the law. In the past, congress changed the retirement age up one year from what they promised (Legislative). With privatization there would be no law changes and more independence is given to the individual to spend their money where they want.