Posted on 02/06/2005 10:37:48 AM PST by ejdrapes
True...They completely ignore the fact that this has worked in Chile for over 25 years, and also has worked in Galveston Texas. They also ignore the ridiculous 1% return on the investment that SS currently returns. Another thing they fail to mention is that if investments were so risky 401 pension plans wouldn't be based on them. Also, the fact that nobody will be forced to do this isn't mentioned.
I am not asking for anything from the government. Did you not read what I said? I am taking care of it myself. I said that I am not expecting SS to do much to take care of me in my retirement. It will be minimal. My investments and my pension will be what will support me, and my late husband and I EARNED that money ourselves!!!! However, he and I paid into SS for years as well!
Calm down. I wasn't talking directly to you. I was making a general statement about government. I didn't mean to offend you.
As a former Federal employee, I miss my TSP. But the key to remember is that it's a 401k, voluntary and supplemental program, with an employer match.
With some reduction of the payroll tax for those under, say, 45, (full disclosure: I am in my early 30s), a system modeled after TSP could be very, very beneficial for all concerned.
ok. You were the last post when I wrote mine.
Safe things don't grow very well.
As a former Federal employee, I miss my TSP. But the key to remember is that it's a 401k, voluntary and supplemental program, with an employer match.
With some reduction of the payroll tax for those under, say, 45, (full disclosure: I am in my early 30s), a system modeled after TSP could be very, very beneficial for all concerned.
I am a Federal employee who participates in the TSP. I won't be eligible for Social Security, because, under the old (pre-1984) Civil Service Retirement System, I haven't paid anything into Social Security for the last 27 years. I'm not the least bit concerned about missing out on Social Security. I have a much better deal between my pension, and the TSP. I don't mean that in an arrogant way. I only say that because I feel Americans other than Federal employees should also have a chance to participate in a plan like the TSP, instead of relying strictly on the traditional form of Social Security.
Well, mine did.
So far. Good luck.
Krugman is a menace to society, especially if you are young.
You are such a pessimist. I have a very good stock broker. Why do the barking if you have a perfectly good guard dog? Besides, at my age, I don't have time to take a lot of risks.
Because you made a statement that can't be true. You said you had a very safe portfolio that grew quite well. Only a portfolio with risk in it can grow "quite well". I am not a pessimist. I am not making a judgement one way or the other about your stock broker. I llke the loyalty you place in him.
Oh, well, thank you. Well, the other company is not as safe as the Hartford. American Funds or something like that. So it is growing faster. He recommended that. He said he has all of his money in that one. Or something like that. It is all Greek to me. :) Glad you aren't judging me. At 55 I just can't take a lot of risks, although I would like to, but then I would end up out on the street with a tin cup in my hand. :(
btt
There is NO rate of return at all. Because there is no investment at all.
If they want to push the phony rate of return up, all they have to do is promise to pay higher. The whole thing is a scam, so why not just say they will pay a 100% return? Or 1000%?
I can issue myself a bond with a 100% rate on it, and put it in my other pocket and,,,POOF,,,I'm rich!
American Funds is a great company. They have dozens of different funds. Some are very risky, some are less so.
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