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I was always taught that a guaranteed return is a guaranteed loss because the Insurance company will make money on that annuity that you will never get.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.
Also, I could do the same thing with a CD, but the annuity pays more because part of the return is principal. With a great-grandfather, grandmother, father, and uncle who lived to mid-to-late 90s, it‘s a good bet for me.
If we had passed Bushes private acct deal before the banks crashed everything, plenty of people now retiring would be in big trouble.
That’s on average. The insurance company has structured their payouts so that they end up with remaining annuity money on those who die at the average age, or before. So they end up making money on the annuity that MOST people will never get.I was always taught that a guaranteed return is a guaranteed loss because the Insurance company will make money on that annuity that you will never get.
You can structure your portfolio in a way as to achieve the same results
But that's up to you
P.S. I actually enjoy strategizing with how to structure my portfolio. There are lots of options when one has saved and invested responsibly throughout one’s working years. Requires research, or the aid of a financial advisor. It’s a nice problem to have!I was always taught that a guaranteed return is a guaranteed loss because the Insurance company will make money on that annuity that you will never get.
You can structure your portfolio in a way as to achieve the same results
But that's up to you
Yep, just look at what happened in Colorado where everyone was up in arms about the 22 year old trucker getting 110 years, but was a green horn "killing multiple Americans because he was poorly trained", young and inexperienced, and was a foreigner it appeared because of his strong accent and possible ethnicity suggesting he was from down south of the border.I doubt that will ever happen. Over the last ten years or so the solution for companies to get drivers is to bring them in from other countries. Some of these worthless bastards will work for nothing and have zero training or experience. Whatever it is in their country for a similar CDL to ours, they can buy with a five dollar bill and a pack of cigarettes. Some of them don't know a word of English yet alone be able to read our road signs. Our government is making the roads more and more dangerous all the time.
The result is we have way more serious truck accidents. Then the bureaucrats create all kinds of new regulations to combat these mishaps, and more Americans get out of the business.
Reagan said it best: Government is not the solution to our problem, government is the problem.
You know I was enrolled into an HSA(healthcare savings account), and that was the best thing ever. I have a huge sum of money in the thing now, and that is outstanding. Why these types of things aren't being promoted in society is beyond my understanding, and why they didn't have it years ago is unbelievable. I would have had enough to retire probably at 50 years old on that money alone. Thank God I've been healthy most all my life, and I pray that it stays that way.What if the 6.2% of the money they contributed to SS went to a savings fund in their name invested earning a modest 5% instead of allowing the government to take it and spend it and distribute it as they please?
You could start by removing the social security earned income cap and loopholes in the tax code defining earned income.
Very simple yet politicians just don’t have the guts because their deep pocket supporters are direct beneficiaries. Let’s just say not healthy for you ones future political prospects.
Yep, just look at what happened in Colorado where everyone was up in arms about the 22 year old trucker getting 110 years, but was a green horn "killing multiple Americans because he was poorly trained", young and inexperienced, and was a foreigner it appeared because of his strong accent and possible ethnicity suggesting he was from down south of the border.
So the answer in America now I guess, is to become what we've always fought and died not to let happen again here, and that is having a country of wealthy people wanting to gain wealth off of the poor uneducated almost spaced working foreigner, who is either brought here or comes here illegally in order to take or replace the American worker/force because we cry to much ???
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
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 it
Sounds like you a real experienced market player. (sarcasm)
Of course you kinda ignore that in 2008 the "stocks that dropped" included like...all of them
Same thing when the pandemic hit
And lots of people Sold in 2020 and tried to buy back in AFTER the market came back...of course they had locked in their losses at that point
The best part of privatizing at least a portion of SS is that it will expose EVERYONE to how effective long term savings is accomplished. Part of that program should be sending you a monthly accounting of how your SS is doing and how much you have made.Where?
and you have shown no such thing.
Just the Social Security contribution of both employee and employer is 12.4 %
if you made 35K a year with no raises for a 45 year working life that's 361 a month
over 45 yeas with ab average ROR of 8% (which is less than the historical average 50 year return of the market) you would have 1.75 million dollars
That amount of money would pay more in retirement annually than you ever earned in your working career.
since 150K invested at a very conservative 5% will provide 12000 a year for 20 years your maximum annual income would be almost 12000 a month
if you live on 6000 a month you will literally never run out of money and have more when you died than when you retired
My first venture into the stock market was the week after the 1987 crash. I actually turned in a CD early, even with a penalty, to get money to plug into the market.The money is only gone temporarily. It will not only come back, but come back at profit, especially if you do what a lot of smart investors do, and that is buy low and sell high.
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
From a MASSIVE number of people.
Stop playing stupid. People are gonna think it's not an act
The way EVERY privatized SS idea works would prevent you from making that asinine mistake.My first venture into the stock market was the week after the 1987 crash. I actually turned in a CD early, even with a penalty, to get money to plug into the market.
Anyway, reading this thread tells us why we need SS. Too many clueless people who think you’ve lost money when stocks drop temporarily. It’s only a loss if you lock it in with a sale.
People panic and sell.The way EVERY privatized SS idea works would prevent you from making that asinine mistake.
SS actually is still needed, it just needs to be an actual savings program that you own rather than the government funding program that it is today.
You have no clue. God help anyone you have power over.If you are poor, you chose to be poor. 2020 was an exception because of the virus, but outside of that, if you live in poverty it's because of your own actions or inactions.
No, you would not be allowed to sell it at all.People panic and sell.
What privatized SS idea would disallow a sale? You mean not allowing someone to sell at a price lower than the purchase price?
