Part 7/12:
Perhaps the most radical yet discussed reform is the privatization of Social Security, entirely restructuring how the system operates. This plan would eliminate the existing model where current workers’ taxes fund retiree benefits. Instead, individuals would contribute to self-directed retirement accounts resembling 401(k)s, where investments would be held for their future benefit. Proponents assert this could provide greater financial security and higher retirement returns, capitalizing on market performance.