Problem:
There is much concern about the ability of the Social Security System to deliver the promised benefits, especially as the impact of the impending retirements of the "baby boomers" is factored in.The first eligible "baby boomer" just signed up for early retirement under social security. One possible modification to S.S system is to allow individuals to have their own individual accounts (similar to a 401 (k)) A friend of yours asks your business advice on this proposal.Based on economics and demographics what would you tell him?