If it werent for a little added risk you'd still be living in cave fending off other knuckleheads. Not that i'm calling you a knucklehead , its just a figure of speech.
shazam,
You do understand that even after you avg in the great depression, black monday,... you still have 12% gain in the stock market over time.
You do understand that even after you avg in the great depression, black monday,... you still have 12% gain in the stock market over time.
Hey, I'll tell you what I was told when I was younger. Consider that your social security payments are going to your parents (or will).
Yeah, and some of you may have paid some to wyvrn when his father died. Course he gave it all back so that no old lady would starve to death.
And since the welfare programs were wacked a bunch of lazy arse bums are collecting SSI out of the "retirement" plan. Probably some of em sitting there right now surfing this board. Can read, can type, can think and act -- just can't work.
So, the ss program is suck. But the guarantee is that you're going to pay the friken tax until you retire!!! Then you'll collect it and laugh at the young people btching about how much it costs them each pay day -- and how they'll never get anything back out of it, lol.
Yeah, and some of you may have paid some to wyvrn when his father died. Course he gave it all back so that no old lady would starve to death.
And since the welfare programs were wacked a bunch of lazy arse bums are collecting SSI out of the "retirement" plan. Probably some of em sitting there right now surfing this board. Can read, can type, can think and act -- just can't work.
So, the ss program is suck. But the guarantee is that you're going to pay the friken tax until you retire!!! Then you'll collect it and laugh at the young people btching about how much it costs them each pay day -- and how they'll never get anything back out of it, lol.
- Mar 20, 2000
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SS wouldn't be broke if the dasmed politicians would keep their greedy fingers off of it. they use it as a slush fund! they dip into it to cover general revenue shortfalls! i did hear another thing (i think it was nader that said it, much as i hate him he might be right on this), that the figures they used for social security going bankrupt in 2030 or 2040 or whenever were based on very low GNP growth numbers that the US pretty much never sees. it would take another great depression or something to bankrupt social security.
i just took a test on this today...
SS (no not the German SS) got started by FDR in the depression, yes it is more of a socialist plan due to the fact that at the time there was strong socialist sentiment by people who wanted more government interventino so that we would pull out of the depression so FDR made it in part to satisfy those wanting more of a socialist gov't to ensure his re-election. it worked fairly well at first since it was a 40:1 ratio of people paying in to people recieving...now that has dropped to 3:1 and by the time all the baby boomers retire it will be 2:1
in short, start saving now because by the time you and I (i'm 17) are in our 60's, SS will no longer exist and we will be on our own for retirement...and i have to keep enough funds to buy computers till i croak
SS (no not the German SS) got started by FDR in the depression, yes it is more of a socialist plan due to the fact that at the time there was strong socialist sentiment by people who wanted more government interventino so that we would pull out of the depression so FDR made it in part to satisfy those wanting more of a socialist gov't to ensure his re-election. it worked fairly well at first since it was a 40:1 ratio of people paying in to people recieving...now that has dropped to 3:1 and by the time all the baby boomers retire it will be 2:1
in short, start saving now because by the time you and I (i'm 17) are in our 60's, SS will no longer exist and we will be on our own for retirement...and i have to keep enough funds to buy computers till i croak
Overlord:
Exactly right. It was a ponzi scheme then and a ponzi scheme now. Now we are starting to realize how dangerous those are, and why they were outlawed.
You do understand that even after you avg in the great depression, black monday,... you still have 12% gain in the stock market over time.
Even after repeating this several times, Shazam seems to miss this pt. SS is for long term investing, so short term volatility of the stock market is irrelevant. Of course over 5 years you can lose money. DUH. But over ANY 15 year period (we do pay into SS more than 15 years of our lives, right?), the stock market had a 12% gain. Even with the stock market crashes and recessions. If you do not believe me, do the research.
Shazam, STOP TALKING OUT OF YOUR BUTT.
My 401k plan at work shows a graph where they estimate SS will only take care of 18% of retirement expenses. That is assuming it will still be around in 40 years, a BIG assumption. So I have to take care of the other 82%? WTF kind of savings plan is that? I would rather bear the WHOLE expense of my retirement and get better returns than allow some stupid ponzi scheme waste my money.
Exactly right. It was a ponzi scheme then and a ponzi scheme now. Now we are starting to realize how dangerous those are, and why they were outlawed.
You do understand that even after you avg in the great depression, black monday,... you still have 12% gain in the stock market over time.
Even after repeating this several times, Shazam seems to miss this pt. SS is for long term investing, so short term volatility of the stock market is irrelevant. Of course over 5 years you can lose money. DUH. But over ANY 15 year period (we do pay into SS more than 15 years of our lives, right?), the stock market had a 12% gain. Even with the stock market crashes and recessions. If you do not believe me, do the research.
Shazam, STOP TALKING OUT OF YOUR BUTT.
My 401k plan at work shows a graph where they estimate SS will only take care of 18% of retirement expenses. That is assuming it will still be around in 40 years, a BIG assumption. So I have to take care of the other 82%? WTF kind of savings plan is that? I would rather bear the WHOLE expense of my retirement and get better returns than allow some stupid ponzi scheme waste my money.
<< start saving now because by the time you and I (i'm 17) are in our 60's, SS will no longer exist and we will be on our own for retirement... >>
Oh it will always exist. Listen to me now and believe me later: the government expects to keep that revenue. Even though the plan will technically lose it's ability to fulfill its obligations, the federal spin to keep that revenue stream going will be immense. They'll rechristin it, morph it, update it, rename it. But abolish it? Hah! At least not if the federal Rs and Ds have their way. Risky scheme! Risky scheme!!
Oh it will always exist. Listen to me now and believe me later: the government expects to keep that revenue. Even though the plan will technically lose it's ability to fulfill its obligations, the federal spin to keep that revenue stream going will be immense. They'll rechristin it, morph it, update it, rename it. But abolish it? Hah! At least not if the federal Rs and Ds have their way. Risky scheme! Risky scheme!!
For those of you interested, here is the formula for compounding interest (in graphic calculator form)
A=R(((1+r/n)^(nt)-1)/(r/n))
R = how much $ you put in on a regular basis
r = the amount of interest gained
n = number of times per year R is put in (aka monthly is 12, quarterly
is 4 ect.)
t = time in years
A=R(((1+r/n)^(nt)-1)/(r/n))
R = how much $ you put in on a regular basis
r = the amount of interest gained
n = number of times per year R is put in (aka monthly is 12, quarterly
is 4 ect.)
t = time in years
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