Which would you rather have $1m in the bank or Social Security Check???

[dnsmith35]

Which would you rather have $1m in the bank or Social Security Check???

If I only had the choice between the two, I'd pick the $1m in the bank hands down. You can't invest a social security check.

Actually I could since I don't use it to live now. I choose to no longer invest, I am now learning HOW TO SPEND.

 

[healthmyths]

BTW, at the moment to receive the same benefits as my current SS check, I would need a little over $2,000,000. Current interest rates are right at 1%, so I would say, keep giving me my SS checks.

Ever hear of "ANNUITIES"???

Here are the facts:
1) BUT YOUR $2 million would NEVER be spent... as you said you'd live on the interest alone!

2) But with the $1 million accumulated under the privatized SS at 65 , I would do the following as any knowledgeable person would :
a) buy an $500,000 annuity that will provide $24,000 per year for 25 years till age 90.
Annuity Calculator - Bankrate.com

b) Keep $300,000 in secured investments for emergencies, etc. at 3% yield on $300,000 or $9,000 interest

c) Live on the remaining $200,000 which at current rate of $10,000 a year would be good for 20 years.
(Medical expenses, living expenses,etc.)

Total available monthly income from all sources: $43,000

In summary an intelligent person with a privatized SS account would have:
a) double the income at $43,000 income versus $20,000 SS payments.
b) have $500,000 left over for emergencies, ongoing living expenses.
c) Most likely leave a nest egg for his children...

All by letting the more intelligent people manage their OWN privatized SS.

I guess the problem really is the people that want the status quo just don't comprehend how other people might be able to
manage better then they can and so they'd rather drag people down to their level rather then RAISE themselves to a higher level!

 

[MikeK]

Take the checks. It has a terrific return if you live that long. You'll get back much more than you paid in.

It's a black hole. I have paid into that Ponzi scheme for years and will collect NOTHING.

Why will you collect nothing? Are you planning on dying before you are eligible?

He's young.

Most people under 45 don't believe they ever will get old. It's the youthful illusion of immortality. Until they experience symptoms and signs of aging that reality remains obscure -- along with the prospect of a monthly Social Security check.

The Wall Street One Percenters take advantage of this aspect of youth to advance propaganda promoting the idea of privatizing Social Security. And the younger one is the easier it is to believe Social Security won't happen to them -- along with thinning hair and wrinkles,

 

[AntiParty]

Take the checks. It has a terrific return if you live that long. You'll get back much more than you paid in.

It's a black hole. I have paid into that Ponzi scheme for years and will collect NOTHING.

Why will you collect nothing? Are you planning on dying before you are eligible?

He's young.

Most people under 45 don't believe they ever will get old. It's the youthful illusion of immortality. Until they experience symptoms and signs of aging that reality remains obscure -- along with the prospect of a monthly Social Security check.

The Wall Street One Percenters take advantage of this aspect of youth to advance propaganda promoting the idea of privatizing Social Security. And the younger one is the easier it is to believe Social Security won't happen to them -- along with thinning hair and wrinkles,

You bring up a great and easily proven point. People that feel one way, but turn once in that situation. In fact, I think this is what America is split on.

Some Americans are visionary's and some are not. Some can see things the way they can be under certain changes such as moving the living room furniture. Others have no ability to see what the room might look like after that furniture is moved even after a very long description.

Not all changes are good, but it takes a visionary to see good changes before they happen. Politics 101.

 

[Jarlaxle]

Take the checks. It has a terrific return if you live that long. You'll get back much more than you paid in.

It's a black hole. I have paid into that Ponzi scheme for years and will collect NOTHING.

Why will you collect nothing? Are you planning on dying before you are eligible?

He's young.

Most people under 45 don't believe they ever will get old. It's the youthful illusion of immortality. Until they experience symptoms and signs of aging that reality remains obscure -- along with the prospect of a monthly Social Security check.

The Wall Street One Percenters take advantage of this aspect of youth to advance propaganda promoting the idea of privatizing Social Security. And the younger one is the easier it is to believe Social Security won't happen to them -- along with thinning hair and wrinkles,

Actually, it's much simpler than that: unless I decide to go full-on parasite and go on disability, I will be 5+ years dead before I see a penny from Social Security.

 

[Erand7899]

The 1%ers, that many love to hate, didn't get there by being timid mice, afraid of the future. Live, or just exist, is the choice that every American gets to make for themselves. Take your social security checks at 65, and spend your golden years just scraping by, while you weep over the life you could have lived, if you had had the courage to live it.

Life is all about how one handles the good times, and how one handles the bad times. Now, at 73 years of age, I reflect back and realize that I have as many fond memories of the bad times as I do of the good times. I wouldn't trade either for a hum-drum existance.

 

[Moonglow]

Take the checks. It has a terrific return if you live that long. You'll get back much more than you paid in.

It's a black hole. I have paid into that Ponzi scheme for years and will collect NOTHING.

Why will you collect nothing? Are you planning on dying before you are eligible?

He's young.

Most people under 45 don't believe they ever will get old. It's the youthful illusion of immortality. Until they experience symptoms and signs of aging that reality remains obscure -- along with the prospect of a monthly Social Security check.

The Wall Street One Percenters take advantage of this aspect of youth to advance propaganda promoting the idea of privatizing Social Security. And the younger one is the easier it is to believe Social Security won't happen to them -- along with thinning hair and wrinkles,

Actually, it's much simpler than that: unless I decide to go full-on parasite and go on disability, I will be 5+ years dead before I see a penny from Social Security.

Try no wanting SSDI and having to get it? I worked for forty years to build up SS, so it's not a gift..

 

[jasonnfree]

Take the checks. It has a terrific return if you live that long. You'll get back much more than you paid in.

It's a black hole. I have paid into that Ponzi scheme for years and will collect NOTHING.

Why will you collect nothing? Are you planning on dying before you are eligible?

He's young.

Most people under 45 don't believe they ever will get old. It's the youthful illusion of immortality. Until they experience symptoms and signs of aging that reality remains obscure -- along with the prospect of a monthly Social Security check.

The Wall Street One Percenters take advantage of this aspect of youth to advance propaganda promoting the idea of privatizing Social Security. And the younger one is the easier it is to believe Social Security won't happen to them -- along with thinning hair and wrinkles,

I heard this statement "social security is a ponzi scheme" a long time ago. Put your money elsewhere. Where? Real Estate? The market? The average person simply doesn't have the resources available to weather the storm during downturns. 2008 killed a lot of retirement plans for people who had assets tied up in real estate and/or the market. Also the 1986 stock market drop killed a lot of retirement plans. Social Security could be shored up by increasing the ceiling on incomes, I think it's a little over 100k now. There are other fixes also. Taxing automatic stock transactions is another.

 

[Moonglow]

Take the checks. It has a terrific return if you live that long. You'll get back much more than you paid in.

It's a black hole. I have paid into that Ponzi scheme for years and will collect NOTHING.

Why will you collect nothing? Are you planning on dying before you are eligible?

He's young.

Most people under 45 don't believe they ever will get old. It's the youthful illusion of immortality. Until they experience symptoms and signs of aging that reality remains obscure -- along with the prospect of a monthly Social Security check.

The Wall Street One Percenters take advantage of this aspect of youth to advance propaganda promoting the idea of privatizing Social Security. And the younger one is the easier it is to believe Social Security won't happen to them -- along with thinning hair and wrinkles,

I heard this statement "social security is a ponzi scheme" a long time ago. Put your money elsewhere. Where? Real Estate? The market? The average person simply doesn't have the resources available to weather the storm during downturns. 2008 killed a lot of retirement plans for people who had assets tied up in real estate and/or the market. Also the 1986 stock market drop killed a lot of retirement plans. Social Security could be shored up by increasing the ceiling on incomes, I think it's a little over 100k now. There are other fixes also. Taxing automatic stock transactions is another.

I made the mistake of not buying real estate in the 1980's because of the Savings and Loan scandals....My dear old stock broker Dad gave me the 411 on it. So I passed many good buys up that would have made me a millionaire in my 30's...I ended up investing in real estate in 1998. Best move I could have made. While I did lose value during the recession the prices have rebounded and the real estate I bought is still holding it's value...While all others I have known lost retirements in investing with other companies...My Mother in Law lost 35 years of retirement when they invested in a company that went belly up...

 

[healthmyths]

Take the checks. It has a terrific return if you live that long. You'll get back much more than you paid in.

It's a black hole. I have paid into that Ponzi scheme for years and will collect NOTHING.

Why will you collect nothing? Are you planning on dying before you are eligible?

He's young.

Most people under 45 don't believe they ever will get old. It's the youthful illusion of immortality. Until they experience symptoms and signs of aging that reality remains obscure -- along with the prospect of a monthly Social Security check.

The Wall Street One Percenters take advantage of this aspect of youth to advance propaganda promoting the idea of privatizing Social Security. And the younger one is the easier it is to believe Social Security won't happen to them -- along with thinning hair and wrinkles,

I heard this statement "social security is a ponzi scheme" a long time ago. Put your money elsewhere. Where? Real Estate? The market? The average person simply doesn't have the resources available to weather the storm during downturns. 2008 killed a lot of retirement plans for people who had assets tied up in real estate and/or the market. Also the 1986 stock market drop killed a lot of retirement plans. Social Security could be shored up by increasing the ceiling on incomes, I think it's a little over 100k now. There are other fixes also. Taxing automatic stock transactions is another.

I really don't understand your above statement because it doesn't take ANY smarts to know that:
1) from age 25 when first start working invest in the stock market.
2) Then at age 45 with the accumulations that the market has shown EVERY year for 112 years
at the rate of 7.5% move 60% into secured low risk investments.
3) Then at 60 when close to retirement MOVE 90% of all into secured low risk investments.
That formula will over 45 years of working for ANY ANY idiot will accumulate if UNTOUCHED
and done i.e. through a privatized SS plan.. at an average of 5% over the 45 years nearly $1 million!
NO ONE ever need have 90% of accumulations in the equities market at age 65 and NO ONE
should be at age 25 have 90% of accumulations in SECURED investments!
Given those parameters every single person that has their SS and their employer's share then
invested from age 25 to 45 into risk equities, then directed to move a large portion into secured then near retirement almost all in secured equities would have $1 million!

 

[sealybobo]

Take the checks. It has a terrific return if you live that long. You'll get back much more than you paid in.

It's a black hole. I have paid into that Ponzi scheme for years and will collect NOTHING.

Why will you collect nothing? Are you planning on dying before you are eligible?

He's young.

Most people under 45 don't believe they ever will get old. It's the youthful illusion of immortality. Until they experience symptoms and signs of aging that reality remains obscure -- along with the prospect of a monthly Social Security check.

The Wall Street One Percenters take advantage of this aspect of youth to advance propaganda promoting the idea of privatizing Social Security. And the younger one is the easier it is to believe Social Security won't happen to them -- along with thinning hair and wrinkles,

They have been telling them "don't expect ss" since they were kids. Getting them ready.

They said unions were bad, now cry that jobs are only $10 an hr.

They wanted the rich to pay less taxes now they see their taxes going up. The burden had to shift onto them. They didn't realize that? If corporations and the rich pay less and the roads need work, we have to pay more.

They told us illegals were doing jobs Americans won't do, then we found out they were doing jobs Americans will do, we just want a decent wage.

Then they told us global warming doesn't exist, because they don't want big government forcing them to go green. They have been telling us government is the problem since Reagan.

They wanted Free trade then tried to blame Clinton for signing NAFTA.

They lied us into war but wanted Clinton to get impeached for a bj?

They never won Iraq and now say Obama is at fault for the middle east? What the GOP did to the middle east is like they wanted to start a jihad with the arab world. Certainly it was for oil. And as we see now, only a Saddam type could rule Iraq. Bush was a fucking idiot! But his companies made billions so whatever right?

 

[sealybobo]

Much is made about 70 being the new 50,
70 is the new 50 in the Workforce | TIME.com

This means for people LIKE ME age 71 I am still very active in my business nearly as much as I was when I was 50!

So while I'm getting MINE.. i.e. social security I don't understand why especially younger people don't figure out that because there are more of people like me, i.e. living longer then what SS originally planned in the 1930s i.e. (I'd be dead by 65!) they need to fix this!
Because as more of us live longer and yet we have SS kicking in at 65. With more retired people at 65 getting SS there are fewer younger people paying in!

Solution..
A) Raise retirement age to 70 for all those people currently under age 50!
B) Give the younger people the chance to tell SS where to put their payments... privatize SS!

So by raising the age we have more people paying in for those younger people when they retire at 70!
But more importantly IF NOT mandatory BUT IF the young employee wants to invest say at 25 their SS/Medicare payments into
the wild and risky stock market for 20 years then the next 20 switch a portion to more secure investments and then last 20 years
into totally secured risk free investments.. this 25 year old would have base on average starting salary of $30,000 with increases
in income over the 60 years would have nearly $1 million that is solely under the young worker control!
So at age 70 getting ready to retire this young (now old retiree) has money set aside MORE then traditional SS would pay.
Also with $1 million the health care costs would be taken care of with no need for medicare!

AND AGAIN NO one would be forced to participate in the privatized SS... you want traditional more power!
Two solutions that would solve the "safety net" destruction that is ahead!

Lets say I am 62 and I have $1 mill. What if the market crashes again and I lose that money? What if inflation goes up and that aint worth shit? With SS I get cost of living adjustments. At least I hope we still do when I retire. So I could get $24K a year and live to be 92 and that would be $800K, assuming no cost of living increases.

I'm not going to go into all the reasons SS is a good idea. Think of the word social.

social refers to a characteristic of living organisms as applied to populations of humans and other animals. It always refers to the interaction of organisms with other organisms and to their collective co-existence, irrespective of whether they are aware of it or not, and irrespective of whether the interaction is voluntary or involuntary.

We all know you righties hate the commons, hate government and the fact that we are all in this together. You guys want Every Man For Himself. Sorry, we see the value in good public schools and a good government that looks out for we the people. We need to take our country back.

 

[healthmyths]

Much is made about 70 being the new 50,
70 is the new 50 in the Workforce | TIME.com

This means for people LIKE ME age 71 I am still very active in my business nearly as much as I was when I was 50!

So while I'm getting MINE.. i.e. social security I don't understand why especially younger people don't figure out that because there are more of people like me, i.e. living longer then what SS originally planned in the 1930s i.e. (I'd be dead by 65!) they need to fix this!
Because as more of us live longer and yet we have SS kicking in at 65. With more retired people at 65 getting SS there are fewer younger people paying in!

Solution..
A) Raise retirement age to 70 for all those people currently under age 50!
B) Give the younger people the chance to tell SS where to put their payments... privatize SS!

So by raising the age we have more people paying in for those younger people when they retire at 70!
But more importantly IF NOT mandatory BUT IF the young employee wants to invest say at 25 their SS/Medicare payments into
the wild and risky stock market for 20 years then the next 20 switch a portion to more secure investments and then last 20 years
into totally secured risk free investments.. this 25 year old would have base on average starting salary of $30,000 with increases
in income over the 60 years would have nearly $1 million that is solely under the young worker control!
So at age 70 getting ready to retire this young (now old retiree) has money set aside MORE then traditional SS would pay.
Also with $1 million the health care costs would be taken care of with no need for medicare!

AND AGAIN NO one would be forced to participate in the privatized SS... you want traditional more power!
Two solutions that would solve the "safety net" destruction that is ahead!

Lets say I am 62 and I have $1 mill. What if the market crashes again and I lose that money? What if inflation goes up and that aint worth shit? With SS I get cost of living adjustments. At least I hope we still do when I retire. So I could get $24K a year and live to be 92 and that would be $800K, assuming no cost of living increases.

I'm not going to go into all the reasons SS is a good idea. Think of the word social.

social refers to a characteristic of living organisms as applied to populations of humans and other animals. It always refers to the interaction of organisms with other organisms and to their collective co-existence, irrespective of whether they are aware of it or not, and irrespective of whether the interaction is voluntary or involuntary.

We all know you righties hate the commons, hate government and the fact that we are all in this together. You guys want Every Man For Himself. Sorry, we see the value in good public schools and a good government that looks out for we the people. We need to take our country back.

Dummy!!!! WHY in the hell at age 62 would you be in the equities market UNLESS you are really dumb as you sound!
Dummies are in the market at age 62 with $1m in the "risky stock market"! NOT one smart person has the entire portfolio at age 62 in equities.
MOST smart people do as I suggested:
AGE 25 to 45 ACCUMULATE with equities that historically grew at 7% over 112 years.
Then age 45 to 60 split the accumulation with 60% in SECURED interest generating assets..40% equities...
THEN ONLY idiots leave all their assets in equities at age 60 put 90% in secured 10% left in risky and then AGE 65.. completely all that is needed for ongoing living expenses GENERATED by SECURED investments!!!
OH and as far as "HATE the government"???
There is ONE function should perform "for the common defense"!!!
And idiots like you can't even see how f...king incompetent the government is when they can't even count correctly how many people are truly uninsured!
Explain how competent any organization is let alone the Federal government if :
1) They count among 46 million uninsured "Americans"... 10 million illegal citizens! SEE CENSUS
2) This incompetent govt. counts as uninsured 14 million that were according to the CENSUS eligible for MEDICAID so why weren't they enrolled and instead counted as "uninsured"??
3) Finally what RIGHT is it to count 18 million people that don't need, don't want and can afford but
they are counted as "uninsured"??? How bogus and how stupid by the govt. to try to do everything for every one when they can't even do simple math!!!

 

[MikeK]

The 1%ers, that many love to hate, didn't get there by being timid mice, afraid of the future. Live, or just exist, is the choice that every American gets to make for themselves. Take your social security checks at 65, and spend your golden years just scraping by, while you weep over the life you could have lived, if you had had the courage to live it.

Life is all about how one handles the good times, and how one handles the bad times. Now, at 73 years of age, I reflect back and realize that I have as many fond memories of the bad times as I do of the good times. I wouldn't trade either for a hum-drum existance.

My parents suffered through the Great Depression. Their advice to us was to get a good education, take a civil service job with a good pension, avoid debt and invest in nothing but U.S. Savings Bonds.

I followed their advice, I married well, lived comfortably, helped to raise three healthy, happy girls. I've been retired since 1985, still living comfortably. I'm not rich, nor need to be. My home and car are mine. I owe nothing to anyone and I still have a nice stack of U.S. Savings Bonds.

If your wish is to join the One Percent -- good luck.

 

[Jarlaxle]

In other words: you are a lifelong parasite and proud of it.

 

[MikeK]

In other words: you are a lifelong parasite and proud of it.

How did you arrive at that insulting assessment? Do you know what the word, parasite, means?

 

[Jarlaxle]

You leeched off taxpayers (and still are) your entire adult life.

 

[Judicial review]

This thread. Is stupid. fuck me. Speaking from someone with experience a million on bank. Morons

 

[Wake]

If you're fiscally conservative, and invest a portion in decent index funds, that's pretty good.

It also depends on what age you have to choose between one million and the checks.

$1,000,000 is likely to last longer the later in life you receive it, sans horrific medical crises.

 

[MikeK]

You leeched off taxpayers (and still are) your entire adult life.

A reasoning mind would consider fraudulently and unnecessarily receiving welfare, unemployment or disability benefits as "leeching."

A reasoning mind would regard the $750billion bailout of the banking industry to be "leeching" off taxpayers.

I performed a necessary service in exchange for a fair wage, decent benefits and a pension -- from a program which I contributed to. A reasoning mind would think of that as working for a living, but you think of it as "leeching."

I invested in U.S. Savings Bonds because of their relative safety. My investment choice serves the interest of government, but you choose to think of it as "leeching."

I contributed to FICA throughout my working life and now I receive a monthly Social Security benefit, which you think of as "leeching."

And I'll bet you don't think of yourself as a brainwashed water-carrier for the One Percent