Unless we’re willing to see seniors starve on the street, we’re going to have to cover their retirement expenses one way or another—and since we don’t know in advance which of us will be losers, it makes sense for all of us to chip in to a pool that gives us at least some guaranteed income in our golden years. That doesn’t mean we shouldn’t encourage individuals to pursue higher-risk, higher-return investment strategies. They should. It just means that they should do so with savings other than those put into Social Security.
