Social security

[MaXJohnson]

If I understand it correctly, the Presidents plan:

a. only affects a small percentage of your SS deduction, topping out at 4%. I could see this being upped to 10% if the plan is a success.

b. is optional. You don't have to participate if you don't want to.

c. restricts how you can invest the optional amount. You would have a cafe plan of investment funds to choose from.

d. isn't paid out all at once. It's a long term investment so it can survive market downturns.

e. will likely be covered by some sort of goverment guarantee similar to how the FDIC covers bank deposits.

f. sounds good to me. I'm on the bubble.

 

[Glenn B]

I agree. biscuitboy87 must have been born in 1987. His youth, lack of experience, and party affiliation shows. He wants the Government to support him should he live a long life..

Unfortunately, he is also a Dem and a sore loser, and is against anything that possibly pumps more life in to SS, aside from the prospect that there may be NOTHING for him should the time come that he needs it.

I am FOR being able to put money aside, but I would like more details.

Either way, it shows immaturity for him to make crappy comments about our President, a man that has likely (at his age) gotten further than bisquickboi will ever achieve.

That is ok, we do need ditch diggers too.

Two words: Dean , Hilary. Nuff said.

I was actually taking you seriously until you threw out the old "GW is a dummy" line. George Bush managed to scrape up enough brains to own a sports team, become governor of Texas and a two term President, the most powerful man on the planet. He's got me beat. How's your career doing?

Then you suggest leaving Iraq high and dry as an example of advancing the human race.

Considering the state of the rest of the world, I'd say the USA is doing quite well.

 

[red91]

I agree. biscuitboy87 must have been born in 1987. His lack of experience, and party affiliation shows.
That is ok, we do need ditch diggers too.
Two words: Dean , Hilary. Nuff said.

bio say 1969.

I do like how Hillary is really starting to backtrack to be EVERYONE friend.
Dean is a F'ing crackpot. The comment from him about hating all republicans and what they stand for would not be tolerated if it was the other way around.

Who da thunk it ?

 

[Glenn B]

I know what his bio says. No way to verify that, so am going by his lack of common sense.

bio say 1969.

I do like how Hillary is really starting to backtrack to be EVERYONE friend.
Dean is a F'ing crackpot. The comment from him about hating all republicans and what they stand for would not be tolerated if it was the other way around.

Who da thunk it ?

 

[red91]

I know what his bio says. No way to verify that, so am going by his lack of common sense.

:laugh:

 

[RKBA]

If I understand it correctly, the Presidents plan:

a. only affects a small percentage of your SS deduction, topping out at 4%. I could see this being upped to 10% if the plan is a success.

b. is optional. You don't have to participate if you don't want to.

c. restricts how you can invest the optional amount. You would have a cafe plan of investment funds to choose from.

d. isn't paid out all at once. It's a long term investment so it can survive market downturns.

e. will likely be covered by some sort of goverment guarantee similar to how the FDIC covers bank deposits.

f. sounds good to me. I'm on the bubble.

That's about it. The big secret I don't like is this:

You only get to keep whatever you earn that makes more than the rate that SS would be making. Also, the Imperial Federal Government will force you into more conservative investments strategies as you get closer to retirement age, whether you want to or not.

The TSP fund choices are found at tsp.gov, and they include an S&P index and and Small Caps if you want. For the faint of heart, there is a Govt. bond index, but that would be a total waste of time as it would hardly beat the SS fund. The President's proposal would offer the same or similar choices as the Federal Worker's TSP.

I have not read about the FDIC type coverage..... interesting idea, if that is the case then where is the downside?

 

[MaXJohnson]

FDIC is just an example of the government protecting an investment plan. From what little tid bits I've heard/read about this, it would be more like a "stop loss" plan. All speculation at this point. With all the politicians that will be involve in this debate, who knows what the end result will look like if it every comes to pass.

The big picture is that when you look at the system now and into the future, it is just too top heavy. I think this plan is a sneaky way of just trying to get more funds into the system. Something that has to be done one way or another.

I'd hit it

 

[TRNDRVR]

Chuggaa Chuggaa Chuggaa Chuggaa Chuggaa Chuggaa Chuggaa Chuggaa Chooo Chooo!!!!! :wave1: :laugh2: :laugh2: :laugh2:

 

[RKBA]

Chuggaa Chuggaa Chuggaa Chuggaa Chuggaa Chuggaa Chuggaa Chuggaa Chooo Chooo!!!!! :wave1: :laugh2: :laugh2: :laugh2:

I'm not sure what's worse: the fact that I am jealous of you not paying into SS, or the fact that you're gloating about it!

What are the terms of the Railroad Pension anyway?

 

[red91]

Chuggaa Chuggaa Chuggaa Chuggaa Chuggaa Chuggaa Chuggaa Chuggaa Chooo Chooo!!!!! :wave1: :laugh2: :laugh2: :laugh2:

i need a donor jeep to park on your tracks Dan... Hope that ProComp strap works

 

[TRNDRVR]

I'm not sure what's worse: the fact that I am jealous of you not paying into SS, or the fact that you're gloating about it!

What are the terms of the Railroad Pension anyway?

My railroad retirement will be a lot more than SS, and to boot, my wife will never collect SS but instead collect half again what I collect from railroad retirement. So in a sense, I am working for my retirement, and also my wife's. Also though, I pay all of it as compared to an employee who only pays half and the employer pays the other half.

 

[Glenn B]

My railroad retirement will be a lot more than SS, and to boot, my wife will never collect SS but instead collect half again what I collect from railroad retirement. So in a sense, I am working for my retirement, and also my wife's. Also though, I pay all of it as compared to an employee who only pays half and the employer pays the other half.

And to think you were whining about being broke, out of a job, etc... if the Democraps did not win and continue to subsidise you Taxpayer funded bail-out job. Amazing that you are now gloating over your good fortune.

 

[woody]

I, like RKBA would be thrilled to "see" that 4% working & growing for me.

I'd prefer to be completely solvent in my old age... IF I live that long.

My tactics are simple:

NO CREDIT PURCHASES! I'm kinda proud, once I paid off my DDXJ in May, I haven't bought ANYTHING on credit. There are no 'new cars' that remotely seem worth the $$$$$ so that's an easy one to resist. I'm perfectly happy to drive an older XJ forever

6% gross into a State pension fund
10% gross into a 401K (presently at an 'aggressive' level of difersification)
5% gross into a Roth IRA
20% gross into our house & 4 acres... (accelerated by 4 payments per year-presently have approx 35% equity)

This doesn't leave a lot of extra 'mad money' but WTF.

Once this house is paid for I'll redirect those funds into another investment or property somewhere else.

I'd like to be able to punch out NLT age 60 and enjoy life... and I don't want to rely on some political scheme to make that possible.

 

[TRNDRVR]

Amazing that you are now gloating over your good fortune.

Not gloating, just the facts. :thumbup:

 

[red91]

:flame: I'm gonna use this thread to keep warm...

 

[Glenn B]

:flame: I'm gonna use this thread to keep warm...

If you can burn bullshit, it will warm you a great while.

 

[biscuitboy87]

I was actually taking you seriously until you threw out the old "GW is a dummy" line. George Bush managed to scrape up enough brains to own a sports team, become governor of Texas and a two term President, the most powerful man on the planet. He's got me beat. How's your career doing?

Then you suggest leaving Iraq high and dry as an example of advancing the human race.

Considering the state of the rest of the world, I'd say the USA is doing quite well.

because of privlage, not because of brains

 

[TRNDRVR]

If you can burn bullshit, it will warm you a great while.

:rattle: :rattle: :rattle:

 

[Glenn B]

:rattle: :rattle: :rattle:

Huh? Taxpayer welfare boy is complaining now? I am soooo confused. Last year you were sooooooo pissed off that you were going to lose your welfare job because Bush got elected. Now you are XXXXy because you did not get fired, and that you were wrong. No shortage of food for Mr Choo Choo train drivers eh? And a good retirement, and gloating about benefits that the Taxpayers do not get? Fat Boy scum IMHO. A perfect example why the Military rejects your type.... stick to the rails, hard to make a navigational error.

 

[TRNDRVR]

Huh? Taxpayer welfare boy is complaining now? I am soooo confused. Last year you were sooooooo pissed off that you were going to lose your welfare job because Bush got elected. Now you are XXXXy because you did not get fired, and that you were wrong. No shortage of food for Mr Choo Choo train drivers eh? And a good retirement, and gloating about benefits that the Taxpayers do not get? Fat Boy scum IMHO. A perfect example why the Military rejects your type.... stick to the rails, hard to make a navigational error.

Complaining? I was making the statement that I get the impression you have your panties in a wad. I have nothing to complain about not paying into SS. Doesn't matter what railroad I work for, I still wouldn't have to do it. You need to take a chill pill, your jealousy is showing. Choo Chooooo!!! :rattle: :rattle: :rattle: :laugh2: