Our Wobbly Retirement Reality

"We can never insure 100 percent of the population against 100 percent of the hazards and vicissitudes of life, but we have tried to frame a law which will give some measure of protection to the average citizen and to his family against the loss of a job and against poverty-ridden old age," Roosevelt said.

Then as now, we need an insurance fund in which we all share the risks and benefits. Social Security isn't just about you but is also about caring for the oldest among us and making sure they have enough money to pay for at least the basic necessities. It's about ensuring that the disabled who can't work have some income. Disabled workers and their dependents account for 16 percent of total benefits paid.

While we're fighting to stave off a depression, the looming Social Security crisis can't be ignored. But any change to shore up the system should also ensure that one leg of the retirement stool is structurally strong and guaranteed to keep people from abject poverty.

· On the air: Michelle Singletary discusses personal finance Tuesdays on NPR's "Day to Day" program and athttp://www.npr.org.

· By mail: Readers can write to her at The Washington Post, 1150 15th St. NW, Washington, D.C. 20071.

· By e-mail:singletarym@washpost.com.

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