In the US, to a large extent yes, although there has recently been a surplus of taxes collected over and above the amount needed to pay for retirees which is invested in Treasury debt. Problems are foreseen when less people work, more might be retired as population ages as I am sure you know. In other countries, for example Europe, the systems vary - often pay-as-you-go systems have been modified in light of some of concerns. Thanks for the interest - best regards, Michael.
Thanks for the reply and the informative videos Michael. I have a backlog to watch!
SteveDelano 2 years ago
is social security similar to a huge pay as you go plan?
SteveDelano 3 years ago
In the US, to a large extent yes, although there has recently been a surplus of taxes collected over and above the amount needed to pay for retirees which is invested in Treasury debt. Problems are foreseen when less people work, more might be retired as population ages as I am sure you know. In other countries, for example Europe, the systems vary - often pay-as-you-go systems have been modified in light of some of concerns. Thanks for the interest - best regards, Michael.
savingandinvesting 2 years ago