An individual at the age of 21, unless first employment is of a later age, should have the ability to choose whether they want to participate in social security.
Social security should not be non-negotiable and for no other use other than the contributors’ retirement option.
If an individual ops into social security, they should have the option of monthly payments, a lump sum payment of total contributions, or transition of funds into an existing retirement plan upon date of eligibility.
Social security should be a protected account that does not allow for access by the USG except to ensure money is only used to pay contributors and should not allowing for the USG to borrow against.
Don’t get me wrong, I hate a mandate. However, if there’s not a way to verify that people are investing into their own retirement, you’ll end up with a bunch of elderly that didn’t manage their money properly and are now the governments problem anyways. At least with this option you are managing your own retirement money. Also, with this option as long as you’re investing, which sounds like you would, then you’re good. The mandate is really only an issue, if you aren’t investing into your retirement. Unfortunately not everyone is responsible including the government, and currently that’s everyone else’s problem.
