Jose Garces Quotes

Since Social Security faces a large gap between what it promises younger workers and what it can afford to pay them, private savings will likely need to play a larger role in retirement planning for younger workers.

There is a kind of fear, approaching a panic, that's spreading through the Baby Boom Generation, which has suddenly discovered that it will have to provide for its own retirement.

Retirement security is often compared to a three-legged stool supported by Social Security, employer-provided pension funds, and private savings.

In other words, Social Security is every bit as insecure as the stock market.

Americans should be able to enjoy a secure retirement after a lifetime of hard work. But too many Americans reach retirement without enough savings to supplement their Social Security benefits.

I can't retire.

What we should be trying to do is to encourage people to establish private retirement accounts and help them take pressure off the Social Security system.

I look back on it, yeah, I'm in a much worse financial position than I was eight years ago. I'm going to have to go out at age 62 and kind of readdress some of that.

Almost half of all Latinas currently on Social Security rely exclusively on their benefit check in retirement.

I believe that we should allow younger workers to contribute toward a personal account that they own, as long as it is coupled with deficit reduction measures that enhance the long-term condition of Social Security.

I have to think about the possible ramifications of an early retirement.

President Roosevelt, the author of Social Security, was the first to suggest that, in order to provide for the country's retirement needs, Social Security would need to be supplemented by personal savings accounts.

On the other end of the spectrum, these women who do live long enough to collect Social Security face the challenge of being disproportionately dependent on the Social Security system for retirement income.

But with a rate of return of 1.6 percent or less, or a negative rate of return, our children and our grandchildren, if we do not make changes, will in fact not have a secure retirement. Indeed, they will not have the funds when they go to retire to even minimally get by.

Many seniors understand that Social Security is social insurance as opposed to a program where we put money aside for our own retirement. But most elderly individuals think they're getting their money back. So it isn't selfishness as much as a misunderstanding.

Social Security is the very foundation of retirement security for millions of Americans.

Though Congress continues to explore possible solutions to ensure social security solvency, everyone must take personal responsibility to prepare their own retirement savings accordingly.

The rate of return on Social Security for people nearing retirement is about 1.5 percent. By the time young children like mine are ready to retire, that rate of return will be a negative percentage.

If a woman did not work and have the opportunity to save and invest on her own throughout her lifetime, she is often totally reliant on her family and Social Security for her retirement years.

Americans are not saving enough for retirement.

This is my first term. I was told it was going to be an exciting term, and a lot of things would be done, and I cannot think about something more exciting than save Social Security.

We want to develop innovative ways to promote savings so more Americans can save for their future, but first we need to reject privatization schemes and work together to strengthen Social Security.

Privatizing Social Security will take dollars out of young folks' pockets.

Today more people believe in UFOs than believe that Social Security will take care of their retirement.

To allow all U.S. workers to put part of their earnings into private investment accounts would definitely erode the Social Security system and cause uncertainty for new investors.