Posted on 12/01/2019 7:38:38 AM PST by rey
I remember seeing a couple of sites/articles on how if one were to pay the same amount into a private retirement fund or annuity investment how much more one would get in return than they would from social security. Can someone help locate such a site/article? Thanks.
Hey thanks man that’s good advice.
Working 20 or so hours a week in retirement at a job that is something different and interesting would be great.
President Trump may do something after the election.
If he doesn’t any chance is gone for many, many years
We are almost 3 years post retirement, making it on SS and IRA’s. We converted our 401K’s as soon as we could into regular IRA’s. There are many more investment opportunities with an IRA. We watch our expenses and went down to one car. We have never relied on a financial planner and have just educated ourselves. There are plenty of free resources out there.
That’s exactly what George W. proposed and he was crucified for it.
WAY OFF TOPIC!!!
Last night we watched “Green Book” the movie, simply among the best!
For some reason as I watched the NYC shots, I’m certain dp0622 was part of that family.
If you have not yet seen the movie, try it! You will like it!
My wife checked it out from the library and the price was right.
I shall check it out :)
Social Security (at least in the 1935-1945 era) was supposed to be a ‘supplemental’ program, and not a pension program. Various efforts over the past fifty years have tried to flip it into a pension program. If you were pulling a salary for the last 25 years of your life of $50,000-plus, then your SS payment might be a pension-like situation. If you were marginally making $25,000 a year...the SS payment won’t cut it.
A good comparison here, a major crisis is brewing in Germany over the national pension program. You have around 15-percent of the population reaching retirement age, who worked less-than-meaningful jobs all their life, and their monthly pension might add up to $800. You go and figure up your rent, your heat, and the basic food situation, and you are at least $300 short. So you go down and beg off the welfare department and hope that they buy into your problem. The German government says this should be corrected, but the only way is to invite a pocket from the tax revenue pot, and give the guy a magic amount that will equal $1,400 of value roughly.
Do both. It’s not like you have a choice with SS anyway.
My husband is 20 years older than me. He retired and we used his 401K to pay off the farm. I worked another 20 years and was able to retire at 58. I worked at the same place for almost 40 years. I had a pension from Gillette, a pension from Kraft foods, a 401K, and stock in P&G from profit sharing. We were owned by those places during those 40 years.
We don’t have any debt. We could make it on SS but I don’t trust the government so we stashed away pensions and savings in other places. We both drive 20-year old trucks and have no farm payment. Neither of us like to travel so we don’t blow money there. Heck, I have never been on a plane and haven’t been out of my state in over 20 years. We do OK. I’d hate to think how hard retirement would be if we hadn’t prepared over the years.
Mark to read. Thanks
and pray a crisis does not hit your family!
If memory serves me correct, Social Security was a reserve fund. Then Congress needed more many and passed a resolution so they can raid it!
... and pray a crisis does not hit your family!
Most common reason for personal bankruptcy
https://www.investopedia.com/top-5-reasons-why-people-go-bankrupt-4773404
Nick Vallelonga the co-author and son of the protagonist, Frank Anthony Vallelonga Sr. better known as Tony Lip had a minor crapstorm because he supported Trump in the muslims celebrating 9-11 account on twitter.
The people from the movie are still in my head from last night! That is OK by me because they were very likable.
I work 7 DAYS a week in a job that does not even require me to be in office for 20 hours a week.
I’m wired differently. MOST freepers have a mindset “work 5 days a week. Period”. I dont believe that garbage.
I’ll rest when I’m dead. You have an eternity or a never-ending Saturday/Sunday to effing “rest”..
So true. People don’t understand that the payout has 3 curve points. 90% , 32% and a 15% ( I think). So for me, I get about 15 percent more than someone who paid in half as much. And about 25 percent more than some who pain in only on third as much. It is extremely regressive in its payout. Or is it progressive? Anyway, if you pay in the max, your cheated big time. All the liberals want to remove the cap and make it a fully in the light redistribution scheme rather than an in the shadow one.
If a politician would just come out and state they would kick the deadbeats off of SS and use the savings to increase benefits to those who paid, they would win big. Most older people think republicans are going to take their SS away. They don’t realize democrats have already given it away. That must stop. Then kill it.
Good for you. You and the President have similar work habits and would seem to get along well
No, it’s a pointless exercise; Social Security taxes are not going to be rescinded. President GW Bush lost the argument to allow private accounts and asset allocation.
Not True. Social Security has always been a pay as you go system from it’s creation. The law stated that any excess funds were to be “invested” in special interest bearing treasury bonds. They are special because these bonds cannot be sold to anyone else and can only be redeemed by the federal government.
Congress has never raided social security.
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