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Started By
Message
Do you ever worry that your retirement or savings will be taken away?
Posted on 6/21/18 at 12:12 pm
Posted on 6/21/18 at 12:12 pm
Honest question. Let’s say this country gets in a bad enough place to where the majority of people simply can’t take care of themselves. Obviously this breeds other problems and multiplies as generations increase. At the end of the day, politicians all agree that government take over is necessary and everyone is whiped clean, funds are combined into one pot, and government control is the only way to start the recovery.
As a fairly young lad who has saved his entire life, and has hundreds of thousands in multiple pots, I get really paranoid over this the more I observe today’s society.
As a fairly young lad who has saved his entire life, and has hundreds of thousands in multiple pots, I get really paranoid over this the more I observe today’s society.
This post was edited on 6/21/18 at 12:15 pm
45
Posted on 6/21/18 at 12:13 pm to PortHudsonPlaya
This is why crypto currency is popular
Posted on 6/21/18 at 12:13 pm to PortHudsonPlaya
quote:
and government control is the only way to start the recovery.
We the people wouldn't put up with that. That would require an insurrection by the people and it wouldn't be pretty.
Posted on 6/21/18 at 12:13 pm to PortHudsonPlaya
SS, yes.
Everything else, no.
Everything else, no.
Posted on 6/21/18 at 12:13 pm to PortHudsonPlaya
I’ve thought about it..
This post was edited on 6/21/18 at 12:15 pm
Posted on 6/21/18 at 12:15 pm to PortHudsonPlaya
quote:
Do you ever worry that your retirement or savings will be taken away?
No, but I have some minor concern that extreme inflation will render it mostly worthless.
Posted on 6/21/18 at 12:15 pm to PortHudsonPlaya
No, but I can see it get worse.
Examples would be:
Raise (again) the retirement age for SS
Implement taxes on Roth IRAs
Increase taxes on Conventional IRAs.
Examples would be:
Raise (again) the retirement age for SS
Implement taxes on Roth IRAs
Increase taxes on Conventional IRAs.
Posted on 6/21/18 at 12:15 pm to PolyPusher86
Nice edit. I was already firing back. 
Posted on 6/21/18 at 12:18 pm to PortHudsonPlaya
Every. Single. Day
Posted on 6/21/18 at 12:19 pm to PortHudsonPlaya
Govt isn't going to take your money, but they will increase taxes until we get rid of most liberals and run them off to Canada or Mexico.
Posted on 6/21/18 at 12:20 pm to PortHudsonPlaya
I'm getting a divorce, my wife has never saved a penny and I have 20+ years building my 401K up.
I'm sure I'm about to get F'ed up the anus
I'm sure I'm about to get F'ed up the anus
Posted on 6/21/18 at 12:20 pm to PortHudsonPlaya
Does this have something to do with that post about more white people dying than being born?
Posted on 6/21/18 at 12:20 pm to PortHudsonPlaya
So what’s the answer? Continue on our path and pray everything works out... or become the majority and spend our wealth as we get it and hope the government bails us out if it gets that bad?
Posted on 6/21/18 at 12:20 pm to PortHudsonPlaya
Subtle “I’ve got lots of money” brag
Posted on 6/21/18 at 12:20 pm to castorinho
I wrote off my Social Security contributions years ago. I try to make myself feel better by thinking that the money at least went to my grandparents and maybe my parents. I won't see a dime.
Posted on 6/21/18 at 12:21 pm to castorinho
quote:
SS, yes.
Everything else, no.
This.
Except for pensions. Pensions will be a thing of the past. Of course this will be business by business. But if you believe your company wouldn’t screw you over your pension in a bind? Crazy.
Posted on 6/21/18 at 12:23 pm to East Coast Band
quote:
No, but I can see it get worse.
Examples would be:
Raise (again) the retirement age for SS
Implement taxes on Roth IRAs
Increase taxes on Conventional IRAs.
I don't see it being taken away in the sense that it will all be "wiped out". But I very much can envision tax increases cutting into the amount saved. Government (mostly Democrats, but not solely) hasn't found anything they won't try to tax, if necessary or lucrative. If there is some sort of "bailout" needed for people who don't save for retirement (and I suspect that is probably close to 50% of today's working people), they are going to try to find ways to get that money in exchange for votes.
Posted on 6/21/18 at 12:28 pm to Alt26
My concern is we talk with votes. That same concern exists when I look at society. Those with any sort of savings will be a large minority. My generation (40s) has a large percentage that are in debt up to their ears even tho they have a good income. It’s even worse with millineals.
I’m just hoping the later remains too lazy to vote but not too lazy to complain about everything that doesn’t cater to their needs.
I’m just hoping the later remains too lazy to vote but not too lazy to complain about everything that doesn’t cater to their needs.
This post was edited on 6/21/18 at 12:30 pm
Posted on 6/21/18 at 12:29 pm to PortHudsonPlaya
I've got a bunch of these somewhere safe.
Posted on 6/21/18 at 12:36 pm to PortHudsonPlaya
The key is to invest in whatever types of tax-advantaged accounts the politicians are investing in. They will never take those away.
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