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Started By
Message
re: 20 years of 401k and now this?
Posted on 6/21/22 at 8:01 am to ed3303
Posted on 6/21/22 at 8:01 am to ed3303
quote:
You said that too few people took advantage of their 401k offerings. Can you imagine if social security was elective and not mandatory?? The educated few would participate, the shiny toy crowd would not (just like their 401k's) and they would be absolutely destitute when too old to work. As bad as the SS system is, thank God it exists for those who fail to plan.
The problem is too many people rely on SS and that's a problem. So many people didnt plan at all for retirement then one day when they cant really work are stuck with $1,300 checks every month and cant figure out a way to make ends meet because they never invested anything on their own. The financial education in this country is sorely lacking but maybe that's by design, at least for some that benefit from it...
On its own SS is a gigantic scam in terms of horrific returns, but it's to the point where so many people depend on it it cant just be wiped away unfortunately and the next generation (Well really this one
) will have to figure out how to make it solvent.This post was edited on 6/21/22 at 8:02 am
1
Posted on 6/21/22 at 8:49 am to thunderbird1100
quote:
You literally cant possibly make any less sense
Consider yourself a dense financier that doesn't understand what he's buying. That's on you baw.
Posted on 6/21/22 at 9:15 am to Asharad
quote:
sorry that you missed out on some real growth.
Yeah. 10% upside and 20% downside. Really missed out on that......
Posted on 6/21/22 at 9:25 am to Aubie Spr96
Stocks only go up
Posted on 6/21/22 at 11:57 am to thunderbird1100
quote:
On its own SS is a gigantic scam in terms of horrific returns
Agreed
quote:
but it's to the point where so many people depend on it it cant just be wiped away unfortunately
It shouldnt be wiped away. But it absolutely can be improved.
quote:
the next generation (Well really this one ) will have to figure out how to make it solvent.
Inflation is one way to make all of our obligations less burdensome. Immigration is the next.
I dont worry about solvency. "Print money" will always solve federal debt problems (while making the poor suffer from its hidden tax on their money). Washington is really run by a bunch of evil 2-faced liars.
Posted on 6/21/22 at 12:03 pm to ed3303
quote:
Can you imagine if social security was elective and not mandatory?
How many public employees in Alaska, California, Colorado, Connecticut, Georgia, Illinois, Kentucky, Louisiana, Maine, Massachusetts, Missouri, Nevada, Ohio, Rhode Island and Texas elect to pay into social security? 1-2%?
Posted on 6/21/22 at 2:13 pm to oldcharlie8
quote:
looks like i may lose the whole fricking thing. sumbitch.
The Dow was around 10k in 2002
Chill out
Posted on 6/21/22 at 4:59 pm to Aubie Spr96
quote:You said you reallocated soon after the election. The S&P500 is up about 7-8% since then plus dividends, which is not good, but it’s still better than essentially no growth nothing (dividend yields are higher than interest in a savings account).
Yeah. 10% upside and 20% downside. Really missed out on that......
You cost yourself money, but I fully support people making the own decisions, even foolish ones. Just don’t pretend it wasn’t foolish.
Posted on 6/21/22 at 8:16 pm to deltaland
quote:
The Dow was around 10k in 2002
Chill out
My guess is, he figures to be sharing a cell with el gaucho in a FEMA camp. Or maybe waiting for the rapture with that other doomsday character on here.
quote:
When in danger, when in doubt… run in circles, scream and shout.
Posted on 6/22/22 at 3:55 pm to wutangfinancial
Highest Negative H1 in history and going lower and lower every single week.
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