How many would NOT want to accumulate more then $500,000?

[healthmyths]

I absolutely KNOW this sounds absolutely stupid question but I guarantee there will be some idiots who will:

a) NOT understand at all the question
B) will refuse the FACTS of compound interest
C) Will make stupid irrelevant comments.. but here goes..

The FACT of "compound interest" is $500,000 can be accumulated.
If over 40 years a worker starting today at average wage of $30,000 and increases over time were able to TELL the government where to put the payments the worker and employer had TAKEN from the paycheck.
Without ANY risk and GUARANTEED by FDIC insurance at an average interest over 40 years at 3% the worker would accumulate $532,834!

And this is using IRS tax returns analysis...
AWI development, 1973-84

 

[uscitizen]

And the investment firms handling the acct would get about the same amount over the same timeframe.

 

[ba1614]

And the investment firms handling the acct would get about the same amount over the same timeframe.

If I made what I expected, why would I care what they also made?

 

[healthmyths]

And the investment firms handling the acct would get about the same amount over the same timeframe.

What investment firm?

Do you have an investment firm tell you what BANK you can put your money into?

The MAJOR point which went WAY over your head is the FREEDOM to choose!

Right now YOU have NO choice.
As a result when you retire.. that's IT!

BUT given the FREEDOM to choose:
1) All equities high risk when young
2) spread the equities gain less risk in middle age
3) All secured, bonds, CDs,etc. close to retirement..

THIS is the way most intelligent people have PLANNED their financial future!

YET you think MOST Americans are too dumb!

BUT even if that were the CASE MOST Americans CAN choose to have
their money deposited into a FDIC insured Savings account for 40 years
and it will be THEIRS not the govt.!

But you still don't see that distinction do you?

You are so ignorant evidently as the simple power of "compound interest"
you have to show your "intelligence" by that old cliched, trite Meme..
oh the evil wall street...
Get over it and grow up!

 

[Dragon]

You didn't have a "The question is misleading, dishonest and asinine" option, so I couldn't respond to the poll.

 

[healthmyths]

You didn't have a "The question is misleading, dishonest and asinine" option, so I couldn't respond to the poll.

Misleading... YOU mean ..
1) you want to be a dependent on someone else telling you where,when what how etc. to live all the time and telling you this is how much you have to live on? Is that what you mean by misleading when I asked if YOU'd like the "Freedom" to choose where your money goes?

Dishonest?? AGAIN.. the main point was a hard fact of finance called
"compound interest"..
It is a fact if you had set aside over your working life time starting at age 25 till 65 from 1971 to 2011 you would have over $500,000 accumulated and
that is a FACT.. can't alter the reality and YOU are against that FACT?

"Asinine" HEY you deign not to answer and that makes YOU really stupid because YOU evidently DON"T understand the concept that all the money taken by the govt. in Medicare/social security... YOU will NEVER SEE!
If you though could save it @3%.... by 2011 equal to $500,000!

WHAT is "asinine" about having $500,000 YOU control... unless like you, the person is too stupid to take care of themselves!

 

[Lonestar_logic]

If you're speaking of total wealth, I've already achieved triple that amount..

 

[Dragon]

Misleading... YOU mean ..
1) you want to be a dependent on someone else telling you where,when what how etc. to live all the time and telling you this is how much you have to live on? Is that what you mean by misleading when I asked if YOU'd like the "Freedom" to choose where your money goes?

No, I mean that asking that question in the context of Social Security is misleading from the get-go. So is the above paragraph.

Dishonest?? AGAIN.. the main point was a hard fact of finance called
"compound interest"..

And this has only the most marginal, tangential, and insignificant relationship to any point that might legitimately be made about Social Security, which you know perfectly well, making this entire thread an exercise in deception.

"Asinine" HEY you deign not to answer and that makes YOU really stupid because YOU evidently DON"T understand the concept that all the money taken by the govt. in Medicare/social security.

I understand it perfectly well. I also understand all of the other things that you're deliberately and dishonestly leaving out of consideration, like the fact that most people are not experts in handling finances and investments, that many investments on the private market lose money instead of making it, that Social Security is meant to provide a reasonable level of retirement comfort for everyone rather than to maximize the investment gains of the relatively few who know what they're doing and have the resources to invest intelligently, and that in consequence your entire structure of argument here is fallacious, misleading, duplicitous, and a big fat thumping galloping lie.

Like most of your threads, actually, which all seem to follow a similar pattern.

Here it is in a nutshell. Yes, if I had been given investment control over all the money I've paid in Social Security taxes over the years, I could have invested it so as to make more money than I will receive from Social Security on retirement. But if that were possible, then an awful lot of people in this country, who don't have my intelligence or my ability to invest carefully and intelligently, would end up living in homeless shelters and eating cat food in their old age. A little extra money in my pocket isn't worth that. I will not support condemning other people to misery to satisfy my own personal, selfish greed.

 

[healthmyths]

Misleading... YOU mean ..
1) you want to be a dependent on someone else telling you where,when what how etc. to live all the time and telling you this is how much you have to live on? Is that what you mean by misleading when I asked if YOU'd like the "Freedom" to choose where your money goes?

No, I mean that asking that question in the context of Social Security is misleading from the get-go. So is the above paragraph.

Dishonest?? AGAIN.. the main point was a hard fact of finance called
"compound interest"..

And this has only the most marginal, tangential, and insignificant relationship to any point that might legitimately be made about Social Security, which you know perfectly well, making this entire thread an exercise in deception.

"Asinine" HEY you deign not to answer and that makes YOU really stupid because YOU evidently DON"T understand the concept that all the money taken by the govt. in Medicare/social security.

I understand it perfectly well. I also understand all of the other things that you're deliberately and dishonestly leaving out of consideration, like the fact that most people are not experts in handling finances and investments, that many investments on the private market lose money instead of making it, that Social Security is meant to provide a reasonable level of retirement comfort for everyone rather than to maximize the investment gains of the relatively few who know what they're doing and have the resources to invest intelligently, and that in consequence your entire structure of argument here is fallacious, misleading, duplicitous, and a big fat thumping galloping lie.

Like most of your threads, actually, which all seem to follow a similar pattern.

Here it is in a nutshell. Yes, if I had been given investment control over all the money I've paid in Social Security taxes over the years, I could have invested it so as to make more money than I will receive from Social Security on retirement. But if that were possible, then an awful lot of people in this country, who don't have my intelligence or my ability to invest carefully and intelligently, would end up living in homeless shelters and eating cat food in their old age. A little extra money in my pocket isn't worth that. I will not support condemning other people to misery to satisfy my own personal, selfish greed.

AND you perfectly illustrate the pompous intellectually SHRIFT idiots who think the MAJORITY of Americans are NOT AS smart as YOU!

How totally arrogant!
You think you have the smarts but what YOU are showing is your pomposity!

Who gives YOU the right to control IF people make mistakes?
Are you that smart? If so why are you wasting your time on this board?
I personally am NOT the most intelligent person.. BUT even I know that if you don't give people a CHANCE there wouldn't be the opportunity to accumulate and THAT's what I'm describing.

And by the way your totally cliched, meme i.e. "an awful lot of people in this country",who don't have my intelligence or my ability to invest carefully and intelligently,"

DID you ever think MAYBE this would have been their SAFETY NET?
They didn't have a chance to MAKE a decision to invest like you...("intelligently..snicker... pompous butt that you are) BUT there was always another OPTION dummy!
THAT is what I illustrated!
Again though you stupidly keep bring the equities investment into the picture conveniently or ignorantly ignoring the FACT this was at a simple 3% rate generated by FDIC secured CDs,etc.. all easily accessible by even those less intelligent then you... (snark..snark..)!

Again...it is just so pompous that you HAVE to think about the "little people"!

How many times does it have to be shared before you get it through your "intelligent empty skull"!!!
There would BE CHOICES and YES a few NOT as many as you condescendingly assume that might not be able to choose the BEST but the whole program would be designed around that potential.
I mean afterall if you have so much confidence in social security mgmt... what says the individual HAS to go into equities..etc.???
BUT at least there is a CHOICE and not what it is NOW!!!

BUT you will NOT even admit that possibility that MOST Americans should have the choice.. because LIKE your effete, intellectual snobbism.. you can't even consider the "little people..like Obama said" clinging to their guns and religion" could EVER be as smart as you!

YOU KNOW I thank you for your totally obnoxious pompous contribution because YOU have clearly defined for many people why Obamatrons like you are so absolutely abhorrent!
Abhorrent in that you really believe YOU are superior!
You are MORE intelligent!
And see less intelligent people like me... WE KNOW THAT WE DON'T KNOW!
But you ignorantly think you know you know,
but then you spout off and show you don't!

I mean it must be such a burden you have to be responsible for the "little people"!!!!

GEEZ!!!! Pomposity knows no bounds!