Should the Social Security and Medicare Age be Raised

[Lesh]

Yes and all those people are just completely unable to learn anything right?

So let's make everyone lose out because of the few that refuse to take responsibility.

A "few"?

YOU want everyone to lose out so you can watch the market go nuts with all that cash infusion...and of course have a few more bucks to play with

 

[Lesh]

Not if they are forced by law like they are now to contribute.

DUH

Yea...that's never gonna happen. You'd fight like hell against it as a matter of fact

 

[Blues Man]

A "few"?

YOU want everyone to lose out so you can watch the market go nuts with all that cash infusion...and of course have a few more bucks to play with

It won't go nuts and I don't play in the stock market only Idiots like you think that is an investment strategy.

The the gains would benefit everyone who invests especially the younger people who can take a little more risk because of their long timeline.

 

[Lesh]

How so? True….there was a massive drop, but it recovered. In fact, it was a buying opportunity, and I ended up retiring 18 months ahead of schedule.

Yea...years later. If you were trying to retire between 2008 and 2012 you were screwed.

Matter of fact if you had retired after 2005 you got screwed

 

[Blues Man]

Yea...that's never gonna happen. You'd fight like hell against it as a matter of fact

Why would I?

That 6.2% has been the cost of doing business since before I was ever in business.

I have always said that BOTH the employer and employee contribution should be under the control of the worker, it is THEIR money after all

 

[gipper]

How do I demand they live in poverty? Am I saying “no….do not enroll in any type of training. I want you in poverty.”

The problem with leftists is they think the only way out of poverty is to rely on more direct giveaways. The REAL way out of poverty is to acquire some sort of minimal job training that will let you earn more.

So you just admitted they deserve a life of poverty and squalor, because they made mistakes.

It must be nice being so high and mighty.

 

[Lisa558]

only for the very poor but as I just showed you if they could invest the 12.4% of their income that SS takes they would be wealthy

My savings provides most of my retirement income not SS

I was self-employed most of my career, and I had to pay both halves. If I could have kept that 12% and invested it over 20 years, and based on an aversge contribution of about $10,000 a year, it would have been $770,000 (based on my average return of 12%).

I then could have bought an immediate annuity with that at age 65, even with the current low rates, have received $3600 a month for life. That Is significantly more than my SS payment,

 

[Blues Man]

Yea...years later. If you were trying to retire between 2008 and 2012 you were screwed.

Matter of fact if you had retired after 2005 you got screwed

No you weren't because you keep the money invested so you can still reap the gains when the market recovers you moron, you don't take it all out the day you retire

 

[sartre play]

How so? True….there was a massive drop, but it recovered. In fact, it was a buying opportunity, and I ended up retiring 18 months ahead of schedule.

Your not taking into account those older folks who did not have the ten years before retirement to get there money back. Now in the works all retirement based on 401k betting your life on the stock market a little like gambling?

 

[Blues Man]

I was self-employed most of my career, and I had to pay both halves. If I could have kept that 12% and invested it over 20 years, and based on an aversge contribution of about $10,000 a year, it would have been $770,000 (based on my average return of 12%).

I then could have bought an immediate annuity with that at age 65, even with the current low rates, have received $3600 a month for life. That Is significantly more than my SS payment,

Why buy an annuity?

That's just a payday for the insurance company who issues it.

 

[Lesh]

It won't go nuts and I don't play in the stock market only Idiots like you think that is an investment strategy.

You're either totally ignorant or totally dishonest. Dumping trillions into the market would create an EXPLOSION and it would be total chaos.

Remember that for every trade there is a winner and a loser...and the little guy is almost ALWAYS the loser.

You admit that playing the market is a bad idea...and yet you want everyone's retirement invested totally in it

 

[Lisa558]

So you just admitted they deserve a life of poverty and squalor, because they made mistakes.

It must be nice being so high and mighty.

No, I didn’t, you ignorant and arrogant leftist.

When did I ever say that because they made mistakes early on, they are stuck there forever? They are free to, and definitely should, sign up for some online training program.

 

[Blues Man]

You're either totally ignorant or totally dishonest. Dumping trillions into the market would create an EXPLOSION and it would be total chaos.

Remember that for every trade there is a winner and a loser...and the little guy is almost ALWAYS the loser.

You admit that playing the market is a bad idea...and yet you want everyone's retirement invested totally in it

It wouldn't be DUMPING

It would be small regular contributions monthly.


My god are you really that dumb

And no there is not a loser on every trade. You still think investing is gambling that's your own ignorance holding you back.

 

[Lesh]

Your not taking into account those older folks who did not have the ten years before retirement to get there money back. Now in the works all retirement based on 401k betting your life on the stock market a little like gambling?

Exactly. And for that entire span you would be drawing off a depleted amount of money...which keeps you from enjoying that recovery even if you live that long

 

[Lesh]

It would be small regular contributions monthly.

From a MASSIVE number of people.

Stop playing stupid. People are gonna think it's not an act

 

[gipper]

In reality less than 3% of all wage earners make just the federal minimum wage

That 3% includes service workers who also get tips

And yet nearly 40 million Americans live in poverty.

People and families are considered poor when they lack the economic resources necessary to experience a minimal living standard. Official U.S. Census Bureau statistics estimate that 37 million persons, 11.4 percent of the total population, were poor in the United States in 2020. The topic of poverty is widely considered a cause for national action because poor families often encounter material hardships and reduced well-being and because children who grow up in poor households are less likely to thrive as adults.

Poverty Estimates, Trends, and Analysis

 

[Lesh]

And yet nearly 40 million Americans live in poverty.

People and families are considered poor when they lack the economic resources necessary to experience a minimal living standard. Official U.S. Census Bureau statistics estimate that 37 million persons, 11.4 percent of the total population, were poor in the United States in 2020. The topic of poverty is widely considered a cause for national action because poor families often encounter material hardships and reduced well-being and because children who grow up in poor households are less likely to thrive as adults.

Poverty Estimates, Trends, and Analysis

Exactly. Right wingers keep pointing to the low per cent of people making minimum wage and ignore the tens of millions making only slightly more than that

 

[Lisa558]

Your not taking into account those older folks who did not have the ten years before retirement to get there money back. Now in the works all retirement based on 401k betting your life on the stock market a little like gambling?

Why not? Everyone knows you don’t invest every cent You leave the stocks that dropped untouched while you keep working the next 10 years, at which point the stocks have recovered.

When they crashed in 2008, I was within 10 years of retirement. I did nothing. They were back at the previous peak within a couple of years.

 

[Blues Man]

Exactly. And for that entire span you would be drawing off a depleted amount of money...which keeps you from enjoying that recovery even if you live that long

Wrong again

If your portfolio tales a hit before you retire you can still retire because the bulk of the money will still be left in the market so as to claw back those losses as the market recovers. You don;t cash in your entire portfolio the day you retire

And in the 5 years before you retire you change your strategy from growth to preservation so you are not exposed to market volatility to the same degree

And don't forget that those DOW jones numbers you see only reflect 500 companies and it's only stocks not bonds or ETFs or mutual funds

 

[Admiral Rockwell Tory]

Is your check there every month?

SS does direct deposit and I am not retired yet.