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Mr. Mystoffelees Inner circle I haven't changed anyone's opinion in 3623 Posts 
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On Jun 27, 2015, Starrpower wrote: Totally agree! For those of us who have been around too long, many, many promises were made. Not to forget- my meager paycheck was always lightened by my "contributions"...
Also known, when doing rope magic, as "Cordini"
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imgic Inner circle Moved back to Midwest to see 1339 Posts
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My understanding is that SS was designed to supplement income at retirement. To provide a safety net. It was not designed to be a persons sole source of income at retirement. People should plan accordingly.
And the promise is to have that safety net. I don't believe specific promises were made (i.e. You will get X amount at Y age). Government programs change. And why the hullabaloo anyways? Is SS gone? You're getting worked up over speculation.
"Imagination is more important than knowledge."
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0pus Inner circle New Jersey 1739 Posts
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On Jun 27, 2015, Starrpower wrote: You mean like, "Read my lips: No new taxes." Or, "I am not a crook." |
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Slim King Eternal Order Orlando 18036 Posts
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On Jun 30, 2015, imgic wrote: Where did you ever get THAT understanding? Have you even read the promises made by the Social Security hawkers? The 401K scam is just a ruse to get your money into the stock market. Another 2008 and you are broke.(It's about a 30% fine to get YOUR money out early) It's a smoke screen to take the pressure off the promises that were made. I honestly doubt any of us will get back what we paid in.( With the 3% yearly interest promised)
THE MAN THE SKEPTICS REFUSE TO TEST FOR ONE MILLION DOLLARS.. The Worlds Foremost Authority on Houdini's Life after Death.....
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S2000magician Inner circle Yorba Linda, CA 3465 Posts
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On Jun 30, 2015, Slim King wrote: You're kidding, right? |
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Magnus Eisengrim Inner circle Sulla placed heads on 1053 Posts
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On Jun 30, 2015, S2000magician wrote: You're not serious are you?
The blood-dimmed tide is loosed, and everywhere
The ceremony of innocence is drowned; The best lack all conviction, while the worst Are full of passionate intensity.--Yeats |
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Slim King Eternal Order Orlando 18036 Posts
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If your government controls all of your Social Security money (About 12% a year for a self employed person), why would they need to control your pension funds too? Why?
Am I the only one who noticed the dive in my 401K a few years back.(2008) My 401K turned into a 201K 
Any of you guys really confident in what is going on now? Greese is going DOWN ... they missed their payment (Even after letting the government rape their saving accounts a while back) The stock market is a proven risk. The numbers look good every time we look at them (but we can't get at that cash without paying our government about 30%)
THE MAN THE SKEPTICS REFUSE TO TEST FOR ONE MILLION DOLLARS.. The Worlds Foremost Authority on Houdini's Life after Death.....
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S2000magician Inner circle Yorba Linda, CA 3465 Posts
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On Jun 30, 2015, Slim King wrote: They don't. Quote:
On Jun 30, 2015, Slim King wrote: The S&P 500 hit its (recent) low point in February, 2009: 735. It just closed at 2,063. That's an average annual return of 15%. Unless you pulled out your money in 2009, you haven't been hurt one bit. By the way: who decided where the money in your 401(k) was invested? Quote:
On Jun 30, 2015, Slim King wrote: Greece will be propped up by the rest of the Eurozone; no story here. Quote:
On Jun 30, 2015, Slim King wrote: Well, duh! You think you can get a 15% per year return without risk? If you don't want risk, invest in T-bills. Quote:
On Jun 30, 2015, Slim King wrote: That's why they call it a retirement account. |
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S2000magician Inner circle Yorba Linda, CA 3465 Posts
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On Jun 30, 2015, Magnus Eisengrim wrote: Surely you jest. |
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tommy Eternal Order Devil's Island 16543 Posts
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Tyres are expensive.
If there is a single truth about Magic, it is that nothing on earth so efficiently evades it.
Tommy |
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imgic Inner circle Moved back to Midwest to see 1339 Posts
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Slim. At this point please don't retire. Worst fear is that you'd have more time to spend here in the Café.
"Imagination is more important than knowledge."
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Slim King Eternal Order Orlando 18036 Posts
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On Jul 1, 2015, S2000magician wrote: You claim they don't control your 401K right now? Try to get your money back without paying the government about 30% of it... You can't!!!!
THE MAN THE SKEPTICS REFUSE TO TEST FOR ONE MILLION DOLLARS.. The Worlds Foremost Authority on Houdini's Life after Death.....
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Slim King Eternal Order Orlando 18036 Posts
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On Jun 27, 2015, Starrpower wrote: As logical as it gets!
THE MAN THE SKEPTICS REFUSE TO TEST FOR ONE MILLION DOLLARS.. The Worlds Foremost Authority on Houdini's Life after Death.....
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Dannydoyle Eternal Order 21245 Posts
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You do not seem to understand how retirement accounts work slim.
Danny Doyle
<BR>Semper Occultus <BR>In a time of universal deceit, telling the truth is a revolutionary act....George Orwell |
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S2000magician Inner circle Yorba Linda, CA 3465 Posts
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On Jul 2, 2015, Slim King wrote: Let's try this again: that's why they call it a retirement account. Furthermore, I have no idea what you mean when you say that the government controls the account. They don't control it. They tax it, and they apply penalties if you use it improperly, but they don't control it. You do. Now . . . how about you addressing all of the other points I brought up? |
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Slim King Eternal Order Orlando 18036 Posts
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Being able to take 30% of your money sounds like control to me!
Argentina took 30 billion a few years back too... Now the debate is here for three years now ...pucker up for the 401Kiss... http://business.time.com/2012/11/28/fisc......he-401k/
THE MAN THE SKEPTICS REFUSE TO TEST FOR ONE MILLION DOLLARS.. The Worlds Foremost Authority on Houdini's Life after Death.....
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S2000magician Inner circle Yorba Linda, CA 3465 Posts
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On Jul 3, 2015, Slim King wrote: Again, it merely shows how little you understand about these accounts. You're in control, not the government. Ready with your replies to the earlier comments? And, out of curiosity, if you have so much fear of or contempt for 401(k) accounts, why do you even have one? You can invest your savings yourself without such an account. |
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NicholasD Inner circle 1458 Posts
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On Jul 3, 2015, Slim King wrote: A 401K isn't a savings account. Funds aren't meant to be withdrawn until age 59 1/2 or later without a penalty (30%) and a tax. You know that going in. If that's not acceptable, invest elsewhere. But, where else can you invest and get free money to do so? Most companies make matching contributions, up to certain limits, as part of their benefits packages. I retired at 59, ten years ago, thanks to my 401k. |
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Dannydoyle Eternal Order 21245 Posts
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It is an agreement you make going in. I may be wrong but the government taxes this contribution differently if at all. So much of what is being done is not a penalty as much as simply the tax you would have paid anyhow.
I do not like taxes any more than most. But we have to at least agree on what reality is. I freely admit not being up on these things as I never dealt with them. So I can be way off.
Danny Doyle
<BR>Semper Occultus <BR>In a time of universal deceit, telling the truth is a revolutionary act....George Orwell |
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EsnRedshirt Special user Newark, CA 895 Posts
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Kids, let this be a lesson- start saving early, invest, and diversify. Social Security and 401k won't be enough. (And pensions are a mythical beast, these days.)
Otherwise you'll be welcoming people to Wal*Mart when you're 79, just to afford that monthly payment on your college loan.
Self-proclaimed Jack-of-all-trades and google expert*.
* = Take any advice from this person with a grain of salt. |
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Posted: Jun 30, 2015 01:06 pm 
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