Dear President Bush:
Recently, there has been discussion of creating “personal”/”private” accounts within Social Security in order to ensure I can fund a respectable environment. However, I already have two personal accounts that I manage for retirement. One is my Roth IRA; the other is my 401K.
Just so you know, I turn twenty-six this year. In your media appearances, you have repeatedly implored the creation of these accounts on my behalf, indicating how this will “save” Social Security for my genreation. I would request that you cease and desist from this, as my generation’s fortunes are already significantly tied to the movements of the stock market. From finding jobs to our existing private retirement accounts, so much of how we do financially depends on Wall Street.
We view Social Security as what is likely to be the only guaranteed money that is not subject to these whims. So, please, stop pressing for yet another private account that will only further complicate our lives while making us less secure.
Christopher M. Dymek