TGHusker Posted April 2, 2018 Author Share Posted April 2, 2018 42 minutes ago, Moiraine said: I started my 401K right after the first big dip. It has a negative rate of return. No, I'm not worried about it, but it's still funny. How young are you Moiraine if I can ask. I'm 62 so I have to watch this more closely. Link to comment
Moiraine Posted April 2, 2018 Share Posted April 2, 2018 21 minutes ago, TGHusker said: How young are you Moiraine if I can ask. I'm 62 so I have to watch this more closely. I'm in my 30's. Didn't have a job with a 401k until a few years ago, and the first one was crappy so I didn't start investing until the current job. Link to comment
TGHusker Posted April 2, 2018 Author Share Posted April 2, 2018 7 minutes ago, Moiraine said: I'm in my 30's. Didn't have a job with a 401k until a few years ago, and the first one was crappy so I didn't start investing until the current job. you are young. Stash away as much as you can, don't raid it and watch it grow. You have plenty of time to ride the roller coaster. Good luck with it. Remember, soc security may be a lot different by the time you get to my age - so don't rely on it or politicians in DC! Link to comment
HS_Coach_C Posted April 2, 2018 Share Posted April 2, 2018 31 minutes ago, TGHusker said: you are young. Stash away as much as you can, don't raid it and watch it grow. You have plenty of time to ride the roller coaster. Good luck with it. Remember, soc security may be a lot different by the time you get to my age - so don't rely on it or politicians in DC! I'm younger than that, and I fully expect that I will never see a dime of social security. Link to comment
BigRedBuster Posted April 2, 2018 Share Posted April 2, 2018 1 minute ago, HS_Coach_C said: I'm younger than that, and I fully expect that I will never see a dime of social security. Every single American should plan that SS will never be there for them. Then, if it is, it's a little extra to live on that you weren't expecting. It should NOT...under any circumstances, be a retirement plan. Link to comment
Moiraine Posted April 2, 2018 Share Posted April 2, 2018 32 minutes ago, BigRedBuster said: Every single American should plan that SS will never be there for them. Then, if it is, it's a little extra to live on that you weren't expecting. It should NOT...under any circumstances, be a retirement plan. We pay into it, so we should expect to get something back. I do understand your point though. Link to comment
HS_Coach_C Posted April 2, 2018 Share Posted April 2, 2018 20 minutes ago, Moiraine said: We pay into it, so we should expect to get something back. I do understand your point though. I think the only way we see any of it is if it's overhauled - and I don't see that happening because anyone who dares touch social security or other entitlements is basically committing political suicide. Link to comment
jsneb83 Posted April 2, 2018 Share Posted April 2, 2018 1 hour ago, HS_Coach_C said: I think the only way we see any of it is if it's overhauled - and I don't see that happening because anyone who dares touch social security or other entitlements is basically committing political suicide. Or we start having kids left and right Link to comment
HS_Coach_C Posted April 2, 2018 Share Posted April 2, 2018 22 minutes ago, jsneb83 said: Or we start having kids left and right Yeah, that's a whole different set of problems... Link to comment
Moiraine Posted April 2, 2018 Share Posted April 2, 2018 2 hours ago, HS_Coach_C said: I think the only way we see any of it is if it's overhauled - and I don't see that happening because anyone who dares touch social security or other entitlements is basically committing political suicide. It's easy to fix, but not when there are no term limits. If we had term limits, more politicians would have the genitals to change it. It doesn't really need an overhaul. The cap on income needs to be increased. They could have it be gradual so it's not an immediate blow. At the VERY least the cap should have always been increasing with inflation. I know they did an increase somewhat recently but it needs to be increased by more. Then after the baby boomers die and people are having 0.9 children per person, they can make a reduction on the cap again if they want. Link to comment
HS_Coach_C Posted April 3, 2018 Share Posted April 3, 2018 58 minutes ago, Moiraine said: It's easy to fix, but not when there are no term limits. If we had term limits, more politicians would have the genitals to change it. It doesn't really need an overhaul. The cap on income needs to be increased. They could have it be gradual so it's not an immediate blow. At the VERY least the cap should have always been increasing with inflation. I know they did an increase somewhat recently but it needs to be increased by more. Then after the baby boomers die and people are having 0.9 children per person, they can make a reduction on the cap again if they want. It would likely take a constitutional amendment by the states in order to have term limits because Congress isn't going to reduce their own power, so that's not likely, which makes this not an easy fix unfortunately. Also, to your solution, trusting the government to increase taxes and then voluntarily trust them to lower them in the future is like trusting a fox in a henhouse. Link to comment
Danny Bateman Posted April 3, 2018 Share Posted April 3, 2018 Lol, this is not going to end well. Wouldn't you know it, I chose last week to buy a small amount of Amazon stock. It's extremely clear to me that Trump is jealous of Bezos, who is an example someone who actually attained the level of success Trump tries to convince everyone else he has. Who could've possibly predicted having a petty, vindictive grudge-holder with extremely minimal checks on his impulses due to his surrounding infrastructure of enablers would be a bad thing? 1 Link to comment
BigRedBuster Posted April 3, 2018 Share Posted April 3, 2018 (edited) Edited April 3, 2018 by BigRedBuster 1 Link to comment
Moiraine Posted April 3, 2018 Share Posted April 3, 2018 1 hour ago, HS_Coach_C said: It would likely take a constitutional amendment by the states in order to have term limits because Congress isn't going to reduce their own power, so that's not likely, which makes this not an easy fix unfortunately. Also, to your solution, trusting the government to increase taxes and then voluntarily trust them to lower them in the future is like trusting a fox in a henhouse. Spoiler alert - I don't think they (the cap increases that may never happen) should be lowered in the future Just saying - there's a simple solution for social security, and implementing it would help us survive the baby boomers. Link to comment
RedDenver Posted April 3, 2018 Share Posted April 3, 2018 People know that there are more Millennials than Baby Boomers, right? Link to comment
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