Retirees lose in bear markets!

[Merlin1047]

As for outsourcing well you just made my point when you asserted the ratio has declined from 16 to one to 3.3 now and will be 2.0 in the future...what caused this...humm you tell me..and don't throw out the claim oldies are living longer now..won't hold water..this was figured in at conception...

Prove it. Quit pulling stats out of your ass and try providing some evidence. You don't even know how many jobs have been outsourced, much less their impact on social security. Every statement you've made has been fabricated out of thin air. Now you're ignoring longer life expectancies and the baby boomer retirement by claiming that "was figured in at conception". Bullshit.

And for your information all Presidents have raided the coffer from conception to date....including GW...

Again, bullshit. When Johnson put that money into the general fund, the social security trust fund disappeared. Since then FICA deductions have not been earmarked exclusively for disbursement as social security benefits.

And again I am not a AARP member and do not read their magazine...

Okay - but that's probably just because you're too cheap to pay the dues.

.How many CC bills do you pay each month bright one?I have zero..

A. None of your damn business.
B. If you had a clue what a total fool you're making of yourself with that statement, even you would be embarrassed.

So quit with the personal attacks already..

The attacks aren't personal. I'm just pointing out the obvious. If you can't handle it, that's your problem sweetie.

Are you that insecure you need to resort to name calling to make your point...whatever that is..

Yeah, that's me. Insecure as hell. I have to come here to pick on some whiney milquetoast to assert my manhood.

Now find another post to make your rude remarks...

Nah. Think I'll stay right here and jump on you some more. I love hearing libs squeal like little piggies.

PS: I am not a Demo or liberal...Reistered American Independent(Conservative) so quit with typecasting while you are at it!

Right. And I'm a registered rotweiler.

 

[archangel]

Prove it. Quit pulling stats out of your ass and try providing some evidence. You don't even know how many jobs have been outsourced, much less their impact on social security. Every statement you've made has been fabricated out of thin air. Now you're ignoring longer life expectancies and the baby boomer retirement by claiming that "was figured in at conception". Bullshit.



Again, bullshit. When Johnson put that money into the general fund, the social security trust fund disappeared. Since then FICA deductions have not been earmarked exclusively for disbursement as social security benefits.



Okay - but that's probably just because you're too cheap to pay the dues.


A. None of your damn business.
B. If you had a clue what a total fool you're making of yourself with that statement, even you would be embarrassed.


The attacks aren't personal. I'm just pointing out the obvious. If you can't handle it, that's your problem sweetie.



Yeah, that's me. Insecure as hell. I have to come here to pick on some whiney milquetoast to assert my manhood.



Nah. Think I'll stay right here and jump on you some more. I love hearing libs squeal like little piggies.



Right. And I'm a registered rotweiler.

No further comment necessary...you made my point with your comments!Have fun! I am not accepting your bait...don't like the smell of cheese wiz..try salmon eggs next time!

 

[Merlin1047]

No further comment necessary...you made my point with your comments!Have fun! I am not accepting your bait...don't like the smell of cheese wiz..try salmon eggs next time!

DAMN! DAMN! DAMN!

The old "declare victory and haul ass" tactic. I sure didn't see that one coming.

Well, you beat me to it, so I guess you win.

When you have time, try reading this article posted by Bonnie:


http://www.usmessageboard.com/forums/showthread.php?t=18183

 

[ScreamingEagle]

I haven't read enough on the new plan to state precisely under what conditions the private account will transfer, but I believe the way it works is that upon reaching retirement age, one can use the money that built up in this account to purchase your own annuity. Most people get more security by purchasing a life annuity, so therefore upon their death there would be nothing left to transfer to their descendents. However, I think that if you die before you retire and purchase that annuity, the balance in the account may be transferred to ones' beneficiary (which you cannot do with Social Security).

Oh, so the "inherit" part has strings attached! You gotta die before retirement to pass on your savings?? Shoulda known better, the government will never let loose its hold upon any pre-tax funds...

This is getting more confusing! Under the new program will one have to purchase a life annuity upon retirement with the saved-up funds or can one pull out the interest and/or the principal to use in any amount at any time? Upon death will all unused funds revert back to the government or will they pass on to your kids (if you don't purchase an annuity)?

Thanks alot for your information so far. It appears a much closer look at this new program is in order.

 

[archangel]

DAMN! DAMN! DAMN!

The old "declare victory and haul ass" tactic. I sure didn't see that one coming.

Well, you beat me to it, so I guess you win.

When you have time, try reading this article posted by Bonnie:


http://www.usmessageboard.com/forums/showthread.php?t=18183

Thank you sir it was a grand battle..I will take your suggestion and read the post by Bonnie!

 

[5stringJeff]

Just joining the fray here... but it is my understanding that the private accounts are going to be set up much like the TSP (Thrift Savings Plans) that all government employees, like me, have access to. There are currently five options for us: large cap, small cap, international, bonds, and the "risk-free" option. Each has a certain amount of risk, except the last one, which earns you about 1-2%. They are all index funds of sorts, in that they mirror the S&P 500, Willshire 2000 (?), etc. Very balanced, but with a higher risk/return. It's not like I could take my SS and sink it into a tech IPO and lose it all overnight.
Anyway, I am all for it. As the system stands, I will never get a cent from SS. I hope this will allow me to make some money so I can retire fat and happy!

 

[Comrade]

Oh, so the "inherit" part has strings attached! You gotta die before retirement to pass on your savings?? Shoulda known better, the government will never let loose its hold upon any pre-tax funds...

This is getting more confusing! Under the new program will one have to purchase a life annuity upon retirement with the saved-up funds or can one pull out the interest and/or the principal to use in any amount at any time? Upon death will all unused funds revert back to the government or will they pass on to your kids (if you don't purchase an annuity)?

The biggest problem is that the details of the plan have still yet to be worked out and stipulated in any solid document such as a bill ready for congress.

There appears to be the idea that, yes, this plan will require the purchase of a life annuity upon retirement, and that it will not allow the person to take that money out in a lump sum and do with it what they will. Because, after all, this is still intended to be social security and not some private investment plan. Only the accumulation side of things will be privatized... the payout stage will still follow Social Security guidelines that intend to pay out monthly benefits until death to the amount that which will keep that retiree out above the poverty line.

I doubt the Democrats and even some Republicans would help pass this bill if it were otherwise, since that perhaps too much privitization for them to handle. Social security always approached the retirement issue on the basis that 'the government knows best' how to ensure your secure retirement, not us, the regular people.

In this case, though, it does make some sense not to let people take it out and end up blowing it on Disney cruises, motor homes, and meals out at Denny's. The government would then have to float them above the poverty level until death regardless (under US law) while having even less money from the SS program to do it with.

Most of these reasons are probably explained better than I can in this link:

http://www.msnbc.msn.com/id/6914807/

But it comes as no surprise to industry lobbyists and inside-the-Beltway operatives, who for years have been discussing the possibility of a partly privatized system that would retain one of the most basic characteristics of Social Security – namely, a lifetime stream of income.

“I think requiring the annuity makes good sense because that way people have a steady income for the rest of their life,” said Ron Gebhardtsbauer, senior pension fellow at the American Academy of Actuaries.

Always trust the acturies!

Thanks alot for your information so far. It appears a much closer look at this new program is in order.

Agreed. I wonder also whether or not the original plan comes out on the backend with any semblance of how it appears now.