This Bet May Cost You Big

摘要

When the president argues for priva-tizing Social Security, he hammers home a single point: it's a better financial deal for the young. If they all had personal investment accounts, they'd wind up richer than if they stuck with the government plan. Some unlucky people would fall behind, but not enough to matter (and besides, "it won't be me"). But how many of the young (not to mention the middle-aged) might fall on the "unlucky" side? A larger number than you think. What's more, you'll be getting a double cut in Social Security benefits—a fact that the White House hasn't exactly advertised. Investment returns from private accounts can potentially make up for one of the cuts, but they're unlikely to cover both.