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WHat?But that’s where you want retirement to go…and only based on what you contribute
Save your investment advice for Trump U drop outs
You and I both know just how credulous Trumptards are when it comes to bleeving total horseshit.IDGAF about Trump or your obsession with him
and you still got ripped off you're just too stupid to know it.Oddly I’m getting almost 3 times that
What about IDGAF do you not understand?You and I both know just how credulous Trumptards are when it comes to bleeving total horseshit.
They are wide open to being conned by a horde of hucksters if they were left to their own devices investing for their own retirement.
Just look at the crap they peddle in the stores on the right wing web sites. Snake oil by the ton.
And when they ended up broke at 65, they would be beating down the doors of Congress to give them a handout.
Troll alert.Read the garbage posted on this thread dumbass
In fact, the average retired worker receives $1,558.54 each month – 8 percent more than Social Security recipients as a whole.and you still got ripped off you're just too stupid to know it.
and FYI the average SS payment is just under 1200 a month.
Got to keep those poor people poor
Kinda what happened in Chile when they privatizedYou and I both know just how credulous Trumptards are when it comes to bleeving total horseshit.
They are wide open to being conned by a horde of hucksters if they were left to their own devices investing for their own retirement.
Just look at the crap they peddle in the stores on the right wing web sites. Snake oil by the ton.
And when they ended up broke at 65, they would be beating down the doors of Congress to give them a handout.
But to hear you talk you’re doing really well. How much do you NEED? Is enough ever enough?WHat?
I retried at age 51 and no thanks to the Social Security SCAM
If I had control over all the money the fucking government stole from me to fund a fake trust fund I'd have at least 3 times more money in my portfolio than I do now
Ray, haven't run into you in a long time. I was wondering what happen to you. Sorry about the Bengals. I was pulling for them.And for how long, a year or two?
So what's better, planning your retirement with your invested funds at 55 or 60 and chance having to wait another year or two before you can withdraw, or work until 67 with a guaranteed low payout that you're stuck with the rest of your life with the exception of cost of living increases?
Why would I want to?You cannot buy the same treasury bills that the government buys to cover the looting of Social Security
It is a separate class of bond that only the government can buy from itself
That alone should sound fishy to everyone.
www.treasurydirect.gov
It's all part of the calculated cost of payroll. If it didn't go into Social Security it would go into paychecks - at last a good portion of it. Competition for talent might lead them to donate even more. My employer donates a lot to my 401-K, far more than 6.2%.That "12.4" is a fantasy to start with
Employers are mandated to contribute half of that into Social Security.
There's no way in hell they would voluntarily contribute that if they didn't have to
Nope. Right in the employers pocketIf it didn't go into Social Security it would go into paychecks
Ray, haven't run into you in a long time. I was wondering what happen to you. Sorry about the Bengals. I was pulling for them.
But getting back to your question, it is a calculated risk. I wouldn't even try to make a suggestion because I don't know anything about your income expenses, investments , etc. However whatever you do, try to wait till you are 59 1/2 before dawning out any money from retirement funds as you will be subject to a 10% penalty. Plus, you will be paying income taxes on the funds you withdraw unless it's a Roth IRA. What might be an even bigger problem is the money you draw out of retirement to live on to 67 is not going be there to grow through your retirement years. If you are in good health, living on just social security for 10, 20, or 30 years your retirement would be a very very long time because s.s will provide you with subsistence but not much else. Remember most people outlive their retirement.
The wife and I both retired at 59 1/2 so we drew from our 401Ks , IRAs and a pension paying taxes but no penalty. We elected to take Social Security at 65 which was the normal retirement age. So we had to provide our own health insurance for 6 years and that made health cost much more expensive than we planed. For us, retiring early was a good decision because we had more than enough to live on for at least 30 years and wanted to travel while we young enough to enjoy it.
Why?
We really need to make up our minds whether to treat people like adults, or assume we're all hapless children and need to the government to "oversee" all our personal decisions.
Because controlling your retirement money gives Congress lots of power. And they've been able to convince the rubes that it's necessary.I'm not speaking for myself, but I know there are a lot of people not smart enough to study their investments. Why do you think we have SS today anyway?
LOL - sure man. Cause they just don't let fools in government. That's not allowed. Never, ever happens.So we would need government to give us approved companies to handle our money instead of government so people don't make bad investments and they end up with nothing at retirement time. It would be almost foolproof that way.
This is exactly why I say that the senior's (if government truly wanted to insulate them, and to incentivize the youth into not fearing or disrespecting the aging process or the prospect of getting old in America), then it surely could do just that. Otherwise why limit or control the magical fairy dust to only fall into the wrong hands to continually be abused ?? lolHowever, a bond IS an IOU. That is what they are, the government takes your money and then spends it with the promise of paying back later.
And because it is an intra governmental bond, they pretend that IOU does not represent a liability. So the question becomes, if the 'trust fund' holds assets then who has them as a liability?
No one according to the government which is exactly why the 'trust fund' is an accounting gimmick and a lie. There is no way around that, ALL financial assets, assets that are not representative of actual hard assets that exist in the real world, represent a liability for the one that is supposed to pay when that asset comes due. Except the trust fund, apparently those are paid back in magical fairy dust...
And it really is this simple.... ThanksBecause the government charged me for a product. It said that it will take X money now and in return I will get Y later. That means I have PAID for that product. It is MINE, if the government saved the money or not is actually irrelevant. Just like if I offered you a couch if you were to pay me 10 bucks a month for the next 2 years and then did not give you the couch after those 2 years.
This is the problem with these types of programs, they take money now for promises that they cannot deliver on. If the government ASKED me, you might have a point but instead they forced me to buy the product.
You bet your ass after they took all that cash from me at the point of a gun I am going to take the benefits, if any, that I can when it comes time for me to collect.
As far as it being equivalent to paying extra on your taxes (or simply giving the government money that they are not demanding) it is the same thing because that is what you are stating people should do with that product they were forced to buy - give it back to the government.
That money is theirs, they paid for the benefit. Not taking it is the same as giving government your money. It is flatly unreasonable to force people to pay into a program and then tell them that they should refuse to draw the benefits that they were required to pay for.
wow a whole 300 bucks a month moreIn fact, the average retired worker receives $1,558.54 each month – 8 percent more than Social Security recipients as a whole.
What Is The Average Social Security Check? | Bankrate
Find out how much your Social Security payments could grow over time.www.bankrate.com
Wrong againNope. Right in the employers pocket
No one here said anything about ending the contribution or employer matches under the current system.It's all part of the calculated cost of payroll. If it didn't go into Social Security it would go into paychecks - at last a good portion of it. Competition for talent might lead them to donate even more. My employer donates a lot to my 401-K, far more than 6.2%.
