Oct 14, 2005

"The vagaries of the market" [LINK]

My letter for the day:

Leland Katz says that even given the popularity of private retirement options such as 401(k)s and Roths, their relative volatility means that now is not a good time to add a private component to Social Security's perceived safety net.

This makes no sense at all. Private retirement funds are popular largely because Social Security is considered a relatively unreliable option, rightly so. By Mr. Katz's logic, the less popular and consequential Social Security becomes, the less willing we should be to reform it.

As yet, no comments: