Pay now, or pay later

You have to pay, the only question is when.

Do you really want to work when you're in your 60s?????

Just in case you said yes, bear in mind you won't be in the physical condition you are now. If you said no, what is your plan to retire early?? No, not a BS dream, a set plan???

Lets go over options: Do nothing and hope to hit the lottery. Marry a rich guy or woman. Save big amounts later. Do nothing and live on SS. Etc.

Lottery is one in millions. Bad odds.

Rich guy or woman is a real pain, several reasons ( I know :) used to having everything their way, figure that if they pay you should kiss up. The Golden Rule: He who has the gold makes the rules. Etc. So not a good option, unless you can accept the above. ( if you're under 39 yrs old today, you can't). I don't care what you say, ( trust me on this one) you will be miserable as today's mid 20 yr olds think in terms of "equal". Do you really think an older guy with money means it when he says "equal"?? Might not be quite as bad if a young guy / woman who inherited the money, compared to the self made, but then again might be a spoiled brat.

Save big amounts later: you know in your heart that won't work. Save $15- $20,000 per year !!!!!!!!!!

So that takes us to the logical option: Start now and save 10% of your paycheck. Start a "household" acct. to force disciplined budgeting. And the IMPORTANT ONE: Learn that excuses are BS, is it done or not.

My opinion on SS is it will be there for you, BUT will be slightly lower amount than it is now AND at an older age to collect. Say 68 yrs old for those of you in your mid 20s now.

Also, do you realize that you could NEVER live on SS alone???
Repeat: you could NEVER live on SS alone.

SS is meant to supplement your retirement savings.

Under Bush's plan, there would be no change for current retirees or workers age 55 and older. Younger Americans could divert a portion of their payroll taxes into personal accounts, to be invested in a limited selection of mutual funds of varying risk. In exchange, the guaranteed government benefit would be cut for these workers when they retire.

Even workers who decline the voluntary accounts would receive a reduced government benefit, according to congressional Republican officials who have been briefed by administration experts.

Rarely, if ever, does Bush talk about benefit cuts, preferring to stress that he wants workers to have the chance to build a nest egg for retirement, and saying that without change the Social Security system will not be able to deliver promised benefits.

Greenspan was more pointed.

"I fear that we may have already committed more physical resources to the baby boom generation in its retirement years than our economy has the capacity to deliver," he said.

"If existing promises need to be changed, those changes should be made sooner rather than later."