Cynical baby boomers believe Social Security will go broke by the time they retire [1]. Right? Well, maybe not.
The first wave of baby boomers appears to be getting more optimistic about the long-term health [2] of Social Security, according to a 2000 CBS News/New York Times poll.
The poll found 56 percent of those ages 45 to 59 believe the system would have enough to pay their benefits when they retire [1], compared with 33 percent who believe it would not.
That marks a significant shift from just the year before. In a May 1999 CBS News/New York Times poll, just 37 percent of those boomers believed Social Security would have enough money [3] to pay their retirement [1], to 51 percent who thought the retirement [1] fund would lack enough money [3] to pay their checks.
An overwhelming majority of all respondents said those who invest [4] their money [3] and lose it should not get help from the government.
Whether the government should be allowed to invest [4] the Social Security trust fund got a decidedly negative response. Those polled opposed the idea by a more than two-to-one margin.
The nationwide telephone poll of 947 adults conducted May 10 to May 13 had a margin of error of three percentage points for the entire sample and seven percentage points for the first-wave baby boomers.
Links:
[1] http://www.thirdage.com/retirement
[2] http://www.thirdage.com/health-wellness
[3] http://www.thirdage.com/money-work
[4] http://www.thirdage.com/investing