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Post by Rock Monster on Oct 16, 2008 9:55:00 GMT -5
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Post by fetusfacedwindbag on Oct 16, 2008 12:34:23 GMT -5
...or do what a responsible person is supposed to do and save up enough money during your lifetime to not have to worry about SS .....considering it isn't and never was intended to be a retirement fund....just a supplement to your own money.
i don't know what your age is though, and the hippie generation really screwed a lot up for the american mindset.... no responsibilty.
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Post by Rock Monster on Oct 16, 2008 12:43:24 GMT -5
I'm 26, and I've had a 401k for 5 years or so now. I'll be ok when I'm older, (if the market ever turns around!) I was just trying to make a point. I'm not counting on SS to get by, but it would be nice to have it there!
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Post by fetusfacedwindbag on Oct 16, 2008 13:00:31 GMT -5
Yeah. I'm 25, and I was simply playing devil's advocate. You're right, but I'm not planning on SS being around just in case. My grandparents had a bunch of crap happen to them, and they ended up having to live on SS for a while. They really struggled for a while, and during that phase, real estate shot up (and along came exorbident property taxes) causing them to have to sell their house....which they sold for $400k, the buyer remodeled it, sold it for $789K, and now it's back on the market for $650K....crazy.
anyway. you'll have PLENTY of time to get your retirement fund built up (as I'm sure you know), and the market WILL turn around. We couldn't sustain the growth that we had for the past little while. It will take a while, but we'll go through another major growth period in our life, and hopefully we'll be in the position to take advantage of it when it does!
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Post by fetusfacedwindbag on Oct 16, 2008 13:03:51 GMT -5
btw. I'm not trying to play any kind of expert at all. I just like to talk about it because it's what I went to school for, and the field that I work in is highly involved with the subject. (not SS but foreign and domestic markets).
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Post by Howie Feltersnatch on Oct 16, 2008 13:10:23 GMT -5
btw. I'm not trying to play any kind of expert at all. I just like to talk about it because it's what I went to school for, and the field that I work in is highly involved with the subject. (not SS but foreign and domestic markets). Just because McDonalds is now in China and Japan doesn't mean your work is involved in foreign and domestic markets. BAM! |
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Post by Fistor on Oct 16, 2008 13:35:38 GMT -5
btw. I'm not trying to play any kind of expert at all. I just like to talk about it because it's what I went to school for, and the field that I work in is highly involved with the subject. (not SS but foreign and domestic markets). Just because McDonalds is now in China and Japan doesn't mean your work is involved in foreign and domestic markets. BAM! Yeah! Or fries! dammit |
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Post by Howie Feltersnatch on Oct 16, 2008 13:37:40 GMT -5
Just because McDonalds is now in China and Japan doesn't mean your work is involved in foreign and domestic markets. BAM! Yeah! Or fries! dammitwhere have you been? I've been awaiting your approval on that post for nearly a half hour! |
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Post by Fistor on Oct 16, 2008 13:39:35 GMT -5
You've been awaiting approval on MY post!
zing!!!
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Post by fetusfacedwindbag on Oct 16, 2008 15:05:43 GMT -5
btw. I'm not trying to play any kind of expert at all. I just like to talk about it because it's what I went to school for, and the field that I work in is highly involved with the subject. (not SS but foreign and domestic markets). Just because McDonalds is now in China and Japan doesn't mean your work is involved in foreign and domestic markets. BAM! But on account of the fact that I help manage (along with 13 others) a $3.5 billion portfolio, I would say that some of the funds that we are invested in would be considered foreign. I could quote our policy allocations if you would prefer I prove myself. ZIP it UP...AND ZIP IT OUT!!! |
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Post by plungerhand on Oct 16, 2008 15:13:01 GMT -5
Just because McDonalds is now in China and Japan doesn't mean your work is involved in foreign and domestic markets. BAM! But on account of the fact that I help manage (along with 13 others) a $3.5 billion portfolio, I would say that some of the funds that we are invested in would be considered foreign. I could quote our policy allocations if you would prefer I prove myself. ZIP it UP...AND ZIP IT OUT!!! Sooooo, while looking after someone's pot of gold, you still have time to play on here all day?? It's not a mortgage company by chance is it? Edit: DAMMIT, I forgot my fistor inspired smiley.... ;D |
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Post by fetusfacedwindbag on Oct 16, 2008 15:14:50 GMT -5
 I'm GREAT at multitasking. I also keep up with email conversations and Facebook. What can I say.....I'm truly amazing. |
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Post by Howie Feltersnatch on Oct 16, 2008 15:17:55 GMT -5
Just because McDonalds is now in China and Japan doesn't mean your work is involved in foreign and domestic markets. BAM! But on account of the fact that I help manage (along with 13 others) a $3.5 billion portfolio, I would say that some of the funds that we are invested in would be considered foreign. I could quote our policy allocations if you would prefer I prove myself. ZIP it UP...AND ZIP IT OUT!!! just goofin dood |
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Post by fetusfacedwindbag on Oct 16, 2008 15:24:39 GMT -5
But on account of the fact that I help manage (along with 13 others) a $3.5 billion portfolio, I would say that some of the funds that we are invested in would be considered foreign. I could quote our policy allocations if you would prefer I prove myself. ZIP it UP...AND ZIP IT OUT!!! just goofin dood I know. i could provide what I said, but it's difficult to illustrate your tone on a message board. I was saying it light heartedly .... referenced by the Dave Chappelle quote.....zip it up and zip it out. I took no offense and hope you didn't either. |
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Post by Fistor on Oct 16, 2008 15:29:44 GMT -5
I know. i could provide what I said, but it's difficult to illustrate your tone on a message board. I was saying it light heartedly .... referenced by the Dave Chappelle quote.....zip it up and zip it out. I took no offense and hope you didn't either. Another crisis that could've been averted if we had the proper smileys. I hope you're watching, Biff. |
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Post by fetusfacedwindbag on Oct 16, 2008 15:33:11 GMT -5
Fistor wins this thread concerning .... soci...al...s..ec..ur.......i ....ty???
Wait, no. He can win some other thread.
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Post by The Biff Lebowski on Oct 16, 2008 19:27:16 GMT -5
Make sure that's rubbed in the ground real good like.......in fact, stomp it a few times just to make sure.
*gay smiley goes here*
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Post by mainerliser on Oct 17, 2008 5:09:44 GMT -5
...or do what a responsible person is supposed to do and save up enough money during your lifetime to not have to worry about SS .....considering it isn't and never was intended to be a retirement fund....just a supplement to your own money. i don't know what your age is though, and the hippie generation really screwed a lot up for the american mindset.... no responsibilty. I'm 42, and have been paying into SS my whole working life! That's a butt-load of money that I could have put into MY 401K! I'm ticked that others are living off what I need to save!! At least at 25 and 26 you have plenty of time to save, and soon enough you won't have to pay SS. |
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Post by hotzester on Oct 17, 2008 9:38:40 GMT -5
+1, but only because I can't give you TEN!
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Post by fetusfacedwindbag on Oct 17, 2008 12:13:07 GMT -5
...or do what a responsible person is supposed to do and save up enough money during your lifetime to not have to worry about SS .....considering it isn't and never was intended to be a retirement fund....just a supplement to your own money. i don't know what your age is though, and the hippie generation really screwed a lot up for the american mindset.... no responsibilty. I'm 42, and have been paying into SS my whole working life! That's a butt-load of money that I could have put into MY 401K! I'm ticked that others are living off what I need to save!! At least at 25 and 26 you have plenty of time to save, and soon enough you won't have to pay SS. The thing is that most people say things like this, but they never actually do it. I'm not saying that describes you at all, but the majority of Americans wouldn't have put that extra money into their 401K. They would have bought a new TV....and probably on some sort of finance plan at that. Me being 25, yes it will make it SO much easier for me, but it wouldn't be difficult for you to save even at this point for retirement. I'm sure there will be something in my future with equivilent affects on my pocket as SS was and is to you, but like I said, SS was made as a supplement and not a retirement plan. Everyone is scared about SS going away, but no one really knows what is going to happen to it. The Fed is smarter than the herd (known as our population) thinks it is. If you use the standard 10% rule (money invested should grow at a rate of 10% over a long period of time, blah blah blah). You could save enough for retirement with what you would normally think of as a car payment. You wouldn't be rich by any means, but you could have a decent little retirement supplement (to the 401K that you already have been contributing to, right?) The retirement age is going to rise to 67 within the next little while here, so that's how long you have to save, right? Let's say that you need $35K/ year to live on when you retire. And let's say that you'll live to the age of 87??? If I did the math right, you'll need about $300K at the age of 67 to spit off $35K/ year for 20 years. That would mean you would need to put $226 a month into a savings plan. If you're not a high earner, you can qualify for a roth IRA, and you should TOTALLY get a roth over a traditional so that you're taxed up front and your money can grow tax free instead of tax deferred. I think that is something that would be totally manageable. (oops. left out inflation. if you were interested in this at all, I can redo the math though.) and i hope this didn't sound like i'm any sort of condescending little prick kid either because i totally didn't mean for it to sound like that at all. |
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Post by Krystal on Oct 29, 2008 7:35:24 GMT -5
The idea behind Social Security is that our kids pay for our old age. Obviously, we're paying for our parents/grandparents/aunts/uncles/etc., which is money that could go into a private account for retirement. But we have to pay it, and there's no way to close the gap at this time. I have a 401k from my last job(s), but I'd rather have an account that says "retirement" because I have no clue how to access my 401k, or how to deal with it when I change jobs... Eventually I'll have to speak with someone about that.
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