Would you opt out of social security in this scenario?

[lfromnj]

If you were offered a deal where the 6.25% of income you earn + the 6.25% income the employer is required to pay into the SS fund could be given directly to you for you to invest into a retirement account that is in a decent long term bond/mutual fund/market.


I would obviously take it. Decent funds or the market itself can range from 5% to 8% each year and I don't have to waste money into a pyramid scheme that will give me nothing when I retire.

FYI this question isn't asking about the US as a whole but just you as an individual.

[S019]

Yes, because it will be insolvent, by the time that I retire

[True Federalist (진정한 연방 주의자)]

Like most who propose Social Security privatization, you ignore that Social Security is more than just an old age pension. It's also a scheme to provide income for the disabled and the minor survivors of those who die young. Also get your numbers right, Social Security is 6.2%, not 6.25%. Finally, even if for some strange reason nothing is done before the Social Security trust fund goes empty then all that happens is the payments are reduced to equal the revenue coming in from current payroll taxes.