I'll feel like a real loser when I retire next year in style thanks to that scam. You should hope you do as well. Refusing to take advantage of the opportunity will make it more difficult. How are you financing your retirement?
The USA Might Be Going Down
Where did I say I didn't care for other people? All they have to do is invest in what you consider a "SCAM".
I'm happy that you're not worried about your retirement. If people have other ways to guarantee their retirement, fine. But ignoring a long term average return of 7% means you have an even better thing, which you haven't shared with us. Please share so OTHER people can benefit from your experience.
Disclaimer (past performance does not guarantee future performance.)
I'm happy that you're not worried about your retirement. If people have other ways to guarantee their retirement, fine. But ignoring a long term average return of 7% means you have an even better thing, which you haven't shared with us. Please share so OTHER people can benefit from your experience.
Disclaimer (past performance does not guarantee future performance.)
galdre
Emperor
- Joined
- Feb 23, 2010
- Messages
- 1,859
With a 401k: first you have to be able to set some money aside (not possible for everyone, especially with decreasing spending power of the average worker), and second you better hope a recession doesn't hit just before you're planning on retiring, because you could very well find yourself with nothing. A pension system would work better for the average worker... and you wouldn't need your disclaimer if it was designed properly.
Of course the pensions of old were better. Tell me I don't have to save a dime and you'll give me 50,000 dollars a year and I'll sign on that line every time.
Those days are long gone. Unless you work for the government.
And of course there's a discipline in saving. Most people prefer to live beyond their means to saving.
If I had bought a bigger house or taken more vacations, I wouldn't have scrimped and saved what I did.
I can't force people to save. All I can do is encourage it. And the 401K laws do. Especially when most companies do full or partial matching.
And for the record, pension funds have been known to go bankrupt also.
Still waiting for to hear your security blanket.
And please don't say it's a cushy pension that most of the masses don't have access to.
Those days are long gone. Unless you work for the government.
And of course there's a discipline in saving. Most people prefer to live beyond their means to saving.
If I had bought a bigger house or taken more vacations, I wouldn't have scrimped and saved what I did.
I can't force people to save. All I can do is encourage it. And the 401K laws do. Especially when most companies do full or partial matching.
And for the record, pension funds have been known to go bankrupt also.
Still waiting for to hear your security blanket.
And please don't say it's a cushy pension that most of the masses don't have access to.
galdre
Emperor
- Joined
- Feb 23, 2010
- Messages
- 1,859
But pensions don't have to be gone... more wealth is being generated in the US (per capita when adjusted for inflation) now than any time before; its the distribution of that wealth that is the problem.
And it's not simply a matter of trying to get people to save. People have to be able to save! Cost of living is going up while wages are stagnating or even going down... there are plenty of people who don't buy luxury goods and never go on vacation and who are struggling (assuming they have a job at all).
Pensions have gone bust, when companies declare bankruptcy, which is why I added the proviso "if designed properly"
I don't have (unfortunately) one of those few pensions left. My "retirement" is going to be based on doing something I like (which luckily can earn me money) for the remainder of my days combined with savings and property. I currently work for a company that matches 401k, but I've not put a penny in it because I try (even if I don't always succeed) to put my money where my principals are.
And it's not simply a matter of trying to get people to save. People have to be able to save! Cost of living is going up while wages are stagnating or even going down... there are plenty of people who don't buy luxury goods and never go on vacation and who are struggling (assuming they have a job at all).
Pensions have gone bust, when companies declare bankruptcy, which is why I added the proviso "if designed properly"
I don't have (unfortunately) one of those few pensions left. My "retirement" is going to be based on doing something I like (which luckily can earn me money) for the remainder of my days combined with savings and property. I currently work for a company that matches 401k, but I've not put a penny in it because I try (even if I don't always succeed) to put my money where my principals are.
civvver
Deity
- Joined
- Apr 24, 2007
- Messages
- 5,855
I sock away 6% and my company matches 4.5%. It's called defined contribution vs defined benefit. Don't really see how any of it is a scam. Companies could not afford to provide lavish pensions in the global era of competition.
Of course our economic health is tied to the profit of our corporations, they're the ones that pay people wages. If they aren't profitable wages don't go up. And if wages don't go up people don't buy stuff to make the corporations profitable. It's balance. But what you're spewing just sounds like anti corporation rhetoric.
Alright so start a competitive company and provide all your employees with pensions. Then see how long you stay competitive.
You realize most 401ks have bond and cash options, you don't even have to buy stocks. You're just giving up free money.
Anyway back on topic, stock market is not a perfect indicator of the country's economy but it's one of the better ones we have. Combined with unemployment and wage growth you can get a pretty good picture. Wage growth is kind of the main issue now.
Of course our economic health is tied to the profit of our corporations, they're the ones that pay people wages. If they aren't profitable wages don't go up. And if wages don't go up people don't buy stuff to make the corporations profitable. It's balance. But what you're spewing just sounds like anti corporation rhetoric.
Alright so start a competitive company and provide all your employees with pensions. Then see how long you stay competitive.
So you make poor financial decisions out of what emotion?
You realize most 401ks have bond and cash options, you don't even have to buy stocks. You're just giving up free money.
Anyway back on topic, stock market is not a perfect indicator of the country's economy but it's one of the better ones we have. Combined with unemployment and wage growth you can get a pretty good picture. Wage growth is kind of the main issue now.
Last edited:
They have been profitable and wages have not gone up.
galdre
Emperor
- Joined
- Feb 23, 2010
- Messages
- 1,859
I'm not against corporations as long as the wealth generated by the labor working within those organizations is given a fair share of that wealth. If labor does not get a fair share then corporations have lost the right to the legal fiction of their existence.
Again, more wealth is being generated in the US per capita than was 40-50 years ago (when adjusted for inflation); the diminishing returns for labor in the US and decreasing spending power of most citizens is because of the distribution of that wealth, not global competition.
Again, more wealth is being generated in the US per capita than was 40-50 years ago (when adjusted for inflation); the diminishing returns for labor in the US and decreasing spending power of most citizens is because of the distribution of that wealth, not global competition.
GoodEnoughForMe
n.m.s.s.
Lots of articles about Trump fans thinking he's been great and/or it's too soon and/or Obama is sabotaging.
Hygro
soundcloud.com/hygro/
The USA is fine and will weather this disease.
Are you going to start showing some data to back up your assertions or are you just going to continue to make high-school-student-who-just discovered-communism remarks?
aelf
Ashen One
I think the joke will be on you for having bothered, regardless of what happens.
Fine? Hmm. How has checking Trump worked out for you so far?
His chief advisor's agenda is to destroy the American system, and so far he and his puppet-in-chief have been unstoppable. The Republicans control the government and they've shown no sign of wanting to actually oppose Trump. And the moderates seem content to blame SJWs rather than to actually try and do anything.
All signs seem to point towards the USA not being "fine" at the end of this.
Last edited:
The Bay is probably concerned about backlash from Trump if they drop the line.
What's your existing reason for boycotting the Bay?
Everything will be okay when Pence and his Cabinet use the Constitution to make Pence acting President and he Makes America Great Again by making it a Christian Republic to save it from the Sharia menace.
Lexicus
Deity
What do you mean by unstoppable exactly?
aelf
Ashen One
As I said in the OP, they've managed to do almost everything they tried to do, with the exception of the travel ban so far (at least legally).
Combination of they stopped carrying yarn and rude staff - when answering questions about the aforementioned lack of yarn, plus other instances of rudeness. The final straw was when I went to check out, I was kept waiting... and waiting... and waiting... while the clerk gossiped with someone else. When I put my stuff down on the counter and headed for the escalator, the clerk finally noticed that she was losing a customer. She called, "Ma'am, come back!"
I told her I had a bus to catch, and didn't have time to wait for her to finish her conversation with her friend. That was 30 years ago and I haven't shopped there since.
And thus the Republic of Gilead comes closer to being a real thing instead of only a fictitious place invented by Margaret Atwood. Or maybe the Total Welfare Centers of F.M. Busby's Hulzein Saga. It's actually a good thing that his novels are less well-known. Wouldn't want to give the right-wingers and corporations ideas.
Gori the Grey
The Poster
- Joined
- Jan 5, 2009
- Messages
- 13,360
He hasn't put anything before them yet. The chair of the appropriations committee said recently he has no intention of paying for the wall. Fiscal conservatives might balk at the +5 trillion over 10 years budget he's preparing. Issa's already calling for a special prosecutor on the Russia stuff. McCain and Graham have inkled that they'll stand on Congressional authority. Boehner, from the sidelines, is admitting that they won't repeal Obamacare. On this point, it's worth waiting for a bit to see how things play out.
Narz
keeping it real
Rah, I don't think the market will rise forever. It's a little foolish to take it as a given.
Bamspeedy
CheeseBob
You still got money in bitcoin, or did you sell yours for a handsome profit and invest in it something else? If you sold them, what did you put your money in? If you still got bitcoin, you think the price will keep going up forever?
Similar threads
- Locked
