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Sounds like you a real experienced market player. (sarcasm)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.
Again irrelevant.From a MASSIVE number of people.
Stop playing stupid. People are gonna think it's not an act
Bullshit. Without Social Security to fall back on you are living off the sale of stocks sold low. That money is GONE. There's no way to wait for that money to produce stock gains. You SPENT itIf 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.
Again...every stock trade has a winner and a loser and the little guy is almost ALWAYS the loserThe economy would actually be fantastic because there would be more opportunity for more businesses markets will expand people will prosper.
So, you are another one who doesn't realize "SSI" has nothing to do with this.Were you to put all your money into the stock market and fuck up or have it crash...you're TOTALLY screwed.
Of course being wealthy...that would never be your problem...and even if it does...you'll still have SSI bennies
People in my family live into their mid-to-late 90s. It’s a good bet for me.Why buy an annuity?
That's just a payday for the insurance company who issues it.
WRONG WRONG WRONGBullshit. Without Social Security to fall back on you are living off the sale of stocks sold low. That money is GONE. There's no way to wait for that money to produce stock gains. You SPENT it
you can do the exact same thing without giving money to an insurance companyPeople in my family live into their mid-to-late 90s. It’s a good bet for me.
Also, I used that as an example for financial comparisons. I myself would never plunk that kind of money into an annuity. it just was to show how one would have been better off investing on his own.
The problem is that most people would NOT invest on their own, and would have spent the extra 12%. Then they would arrive at retirement with nothing. SS is really to protect irresponsible people from themselves, to the detriment of those of us who are responsible savers.
Yes….some of these people really ARE that dumb. It is for them that SS is needed.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.
Still wrong.Again...every stock trade has a winner and a loser and the little guy is almost ALWAYS the loser
Didn't you just tell us you don't play in the market?No body lost anything when I sold shares of one company to buy shares of another.
So you are for rationing health care to the elderly because they "MIGHT" live only a month longer as if anyone is a mind reader into the end of someone's life time or life span ? I don't want to be that person to determine such a thing or make a judgement on such a thing and be wrong about it. I have stood on the side line's, and watched as elderly people in my family looked to be laying upon their death bed's, and then saw family members fight for them regardless of what the doctor or hospital said, as they miraculously became well again to live on some years afterwards.Social Security is a flat rate-funded retirement system which essentially screws middle income workers by requiring full payment for reduced benefits. This allows for increased benefits for low income workers and a tax cap/exemption for high income workers.
Of course this unwarranted exemption should be eliminated, but there is an even bigger SS tax loophole that should be addressed: Social Security taxes are only applied to "earned" income, not other income such as dividends and short-term capital gains. This is what allowed Warren Buffet to infamously claim that he paid less taxes than his secretary.
However, the biggest elephant in the room is Medicare/Medicaid (or whatever other euphemisms are in vogue to explain the insane amount of money we spend on medical care for the elderly). Should heroic treatment for terminally ill patients, with only the hope of extending their lives a few weeks or months, be a guaranteed right? To what end can these financially ruinous means be justified?
A little sidebar discussion here:you can do the exact same thing without giving money to an insurance company
WOW you must really like displaying your ignorance.Didn't you just tell us you don't play in the market?
Enough of your bullshit.
Privatizing Social Security is an incredibly BAD idea and we have had several JARRING examples of why in just the last decade and a half
"Together with SS"A little sidebar discussion here:
My plan is to take $135,000 out of my IRA, at age 72 when RMDs start, and put into into a deferred annuity. That reduces the amount I have to withdraw, just lowering taxes, and it will start paying out at 82, around the time I may have to move to a retirement community. That payout, together with SS, will cover close to the base amount of the retirement apartment. Whatever happens, my basic expenses are covered.
The rest of my investments, with is the bulk of it, will remain invested. And because my basic expenses are covered, I can be more aggressive than otherwise.
No good?
yeah we're just like Chile. I'm sure their government isn;t corrupt and that their regulatory agencies are the best in the world too right?Chile tried the privatization thing and it was an abject failure
Pick your article
Chile social security failure - Google Search
www.google.com
if it's IRA money put into an annuity you are still subject to required minimum withdrawals because the annuity will be treated like an IRA. Unless you want to pay the taxes on the 135KA little sidebar discussion here:
My plan is to take $135,000* out of my IRA, at age 72 when RMDs start, and put it into a deferred annuity. That reduces the amount I have to withdraw, just lowering taxes, and it will start paying out at 82, around the time I may have to move to a retirement community. That payout, together with SS, will cover close to the base amount of the retirement apartment. Whatever happens, my basic expenses are covered.
The rest of my investments, with is the bulk of it, will remain invested. And because my basic expenses are covered, I can be more aggressive than otherwise.
No good?
* current maximum allowed
Oh, you’re right….I can’t defer. It’s got to be in an immediate annuity. (I will research more as I come within a few years of 72). But the basic still applies: I will have a guarantee that my guaranteed income will cover the retirement apartment, freeing me up to be more fully invested with the rest.if it's IRA money put into an annuity you are still subject to required minimum withdrawals because the annuity will be treated like an IRA.
You can't hide any tax deferred money from the government
No.SS and MC were started in 1934 and 1965 respectfully. In 1934 job were much more physical and people’s bodies broke down starting in their 50s. Nowadays go to any company and you see people working well into their 70s… heck even construction are less strenuous on the person’s body. The trend is only going to increase. In addition, medicine is getting better and people are living longer. This reality should be recognized.
In addition it is much easier to take care of oneself and eat better and feel better at older ages.
Our safety nets need to reflect this new reality.
