Posted:
#26
TGK - How is Social Security working? How is medicare/medicaid working? You say they are successful, how? Is 1000 a month enough to live on in your golden years? I don't care how you budget, it isn't possible.
Instead let me take that 6.2% of my pay (currently what they take out) and match it with my employers 6.2% that they pay and let me put it in a retirement account of my choosing and manage the way I want to. I guarantee you that in the 50 years I'll have worked by the time I'm 65 I will have a rate of return greater than anything I'll ever get from social security, and I will get to leave any left over money to my grand children or a charity of my choosing.
Example, Using an average annual salary of 40,000/ yr, you pay in to SS $2480.00 and your employer matches that equaling $4960.00 each year. Not allowing for inflation or a raise and using an average rate of return of 10% (conservative compared to the historical growth in the stock market) in 50 years the amount grows into 6.35 million dollars. At a measly 2% cd rate on 6.35 million is 127K thats more than $10,000 per month!!
Instead i send it in to the fed govt, who use my money to pay the current retirees so there isn't anything being put away for me later on. instead the Govt. will tax my children and grandchildren to pay my social security. Like I said A ponzie scheme. Look it up if you don't know what one is.
As for the recent down turn in the market.....so what? Unless you sell you stocks or bonds you haven't actually "lost" money. My retirement went down in value per share, but I still have my same number of shares, in fact I am buying more every month, so when the market rebounds, which it will, I will be in even better shape than before it went down.
As for your asking me about SS checks when I am old? I am not counting on it being there so I am planning for my own retirement. In fact if the feds will let me opt out right now and instead let me add that additional 6.2% to my 401K, I will gladly forfeit my "right" to tax my children and grand children. Will you?
0
why people are so blind and cant see what these crooks are trying to do really amazes me. All these corporate crooks are trying to do is get their hands on taxpayer funded programs, so they can clean them out. This doesnt even take a rocket scientist to figure out.
that will never work as good as an idea as it is.
TALK TO ME BROTHER 
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