Reply #8: Actually no. Many times the very worst investors...

[Iowa]

are the very wealthy. Why? Because they surely won't use the same investment vehicles as the common rabble like you and I. They're above that! They must use "exclusive" investment firms that cater to the very rich. What they don't understand is that most of these firms will fleece them with very high fees and (often) dubious investment schemes. So the wealthy usually do much worse than the average Joe. There's even an obscure financial term for this - "Country Club Syndrome". It's obscure because so few understand the investment world.

Anyone who truly wants to learn how to invest should ask someone who earned a modest salary, lives in a modest home, and retired in their 40s or 50s with a million or so in assets. NEVER seek advice from a broker, planner, or a high earner with a big house and fancy cars. And never, ever, ever, turn your money over to an "expert" like the wealthy often do (or listen to a wealthy person who has turned their money over to someone).

The Bush "plan" for SS follows the same path I describe above. Bush is just a dumb-ass parroting what some "expert" of the day told him. He wants to turn SS over to the same "experts" that fleece his wealthy buddies every day. It would be a disaster of monumental proportions. As a rule, Republicans (or more accurately - the wealthy) are worse investors than average people.