OT - Social Security

[Drew Eckhardt]

By investing directly in the US Treasury I'd have guaranteed retirement benefits 13-16X what Social Security could give me with more safety.

The last time I checked Social Security will yield a .3 percent rate of return for me assuming the government stays solvent, benefits are adjusted for the cost of living, and I'm allowed to claim my benefit.

30 year T-bonds are currently returning 4.9% and 10 year notes 4%. Those are guaranteed as long as the government stays solvent which makes them a safer investment than Social Security.

Social Security isn't about "Social Security" or safety. It's about an additional 12.4% tax.

[Mark & Juanita]

I agree with what you are saying, but that is not what the politicians who have been espousing rolling back the tax cuts "for the rich" nor for what was considered "rich" under the previous administration's tax increases.

Oops, that was a typo, my fingers were going for the "5" key. I have heard that some of the late-night ambulance chasers go for a higher number with some of their cases.

[todd]

that has happened in my life and what I think. I guess I'm different from most people, though, as I make plans for the likely bumps that will occur down the road. From your comments, I'm guessing that you expect the nanny state to take care of you. Good luck with that.

todd

[todd]

Well, I guess your daughter's college fund wasn't handled very carefully or professionally. Anybody who knew what they were doing with money that was needed within 4 years would have begun moving it into less-volatile investments. Of course, unless they were then a total moron and sold at the bottom, the funds would very likely now be about back to where they were.

todd

[Swingman]

Once again you guess wrong.

Most investors have not recouped their losses, many have lost them entirely, many of them because of the slick greed of others, which will not disappear and will always be a looming possibliity for "investors" of any type.

Judging by naivete exhibited in the remarks above, I wouldn't hold out a lot of hope for you investing successfully for your retirement.

[Fletis Humplebacker]

"Drew Eckhardt"

But if we repeal it we are giving money to the rich, starving children, turning pristine lakes into bubbling cesspools, burning holes in the ozone, risking the criticism of France, Cuba and every good person on earth.

[George]

C'mon, that's market 090, not even 101. Out of growth, into income as the time of need grows close. Sounds like you got into greed versus need mentality.

[Swingman]

What's "close", oh prescient one?

The "need", as you put it, is still 18 mos away (2005) ... that will be damn near a span of six years since the market starting falling and her college fund lost much of its value. She is still invested and, while the value is trending up, she may or may not realize the initial investment when the time comes.

Only a pompous ASS would jump to such an erroneous conclusion.

[George]

I can see why you had problems listening to your financial advisor.

[Swingman]

You just keep validating the above with every ill informed conjecture.

George, the FACT is that, even were you qualified, you have absolutely NO idea of what the situation is/was and, as a result, you are inarguably, and patently, talking through your ass.

... nuff said.

[todd]

You talk pretty big for someone who likes to make a lot of assumptions about my situation.

todd

[Swingman]

LOL ... and that from someone whose retorts seem to begin with "I guess ..."?

... go back and look.

[George]

Not to worry. This non-expert is comfortably retired though he's unqualified to quote standard assumptions.

Ignorance is an acute condition cured by knowledge. Stupidity is chronic, because it rejects the efficacy of knowledge.

[todd]

It's a figure of speech. You want me to come right out and state it? Anyone who let a fund decline by 70% either a) didn't know what they were doing or b) were willing to ride it out. For crying out loud, was it all in QQQ? I wasn't willing to ride it out, which is why I got out of the market at Dow 11,000 and back in at Dow 7800. Doesn't make me a financial genius...I just took advice that was available to anyone else who wanted to listen.

todd

[Swingman]

For an absolute fact, Todd, you simply have not been thinking clearly. You immediately, and wrongly, assumed that I had personal control over an investment brought up to illustrate a point, and your "guesses" and assumptions since have had you ignorantly barking up the wrong tree ... all of which nicely proves my original point

That being the absolute folly of privatizing SS for a dumbed down society in a stock market where the "rules" are ignored by a cult of greed and subjected to the bureaucratic bungling of the government vis-à-vis regulatory oversight.

Many of you would do well to go talk, and more importantly, listen, to someone who lived through a little period of our history called "the Great Depression".

[Swingman]

George, once again your pompous BS, as above, is exceeded only by your incorrect assumptions.

[Fred the Red Shirt]

A discussion is an exchange of knowledge, as opposed to an argument, which is an exchange of ignorance.

[Swingman]

Despite the fact that quaint little homily has been around longer than I can remember, and really should be in quotes, it ain't necessarily the whole enchilada.

When a party, in complete and TOTAL ignorance of a situation, continues to spout assumptions based on that ignorance, pointing out said ignorance is not necessarily an "argument".

[Mark Jerde]

I can, however, be as useful as trying to teach a pig to sing. ;-) Not only are you wasting your time, the pig becomes annoyed...

-- Mark

[Swingman]

LOL ... you got that right! ;>)