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Perhaps I'm too simple minded to appreciate the subtleties of the study but as I read it the conclusion seems to be that pretty much everyone is full of it. But then again, perhaps I too am something of an ideologue in that I was of the opinion everyone was full of it well before you brought this study to my attention.
And yet Obama IS considering cutting Social Security....
But he probably will feel bad about doing so and the useful idiots will still vote for him...
I think it is a power play on his part. Everyone will know that he is contemplating cutting SS because that's the only way the republicans will play. How's that going to make the R's look? Not too good...
And your byline...you know that is a quotation from a movie, right?
Obama said it, but he didn't make it up.
Well here's another one that doesn't know what they are talking about.
95% of "Obama's" increases spending was unemployment benefits and increased medicare rolls do to the downturn in the economy.
What you are asking for is to cut those programs.
It had nothing to do whatsover with new discretional spendiing on Obama's part on poor or middle class programs.
Medicare rolls have increased due to the aging of the baby boomers. MEDICAID rolls have increased due to the economy and will continue to increase due to Obamacare.
"The new health reform law will require most U.S. citizens and legal residents to have health coverage by 2014. It provides new options for coverage by expanding Medicaid eligibility to more low-income people and creating a state-based system of health insurance exchanges through which individuals can purchase coverage, with federal subsidies for many."
I think it is a power play on his part. Everyone will know that he is contemplating cutting SS because that's the only way the republicans will play. How's that going to make the R's look? Not too good...
If Republicans call his bluff and agree to private jet loophole removals or whatever, the buck stops here and SS being cut will indeed be considered Obama's fault, just as the economy faltering is considered Bush's fault by the ignorant masses.
I have been paying into it even longer. I certainly would like something back as well, but reality is just that.
You are correct that a great many people lack knowledge regarding retirement planning. Not to insult you, but I would count you among them due to your remark on volatility of the market.
To explain in brief: If someone is saving money to retire and they are 20, 30, 40, 50 or even just 15 years from retiring, why should they care about volatility? A long time horizon alleviates volatility risk. This is money that you will use decades from now. As retirement age approaches, you switch to safer, more conservative investments.
But yes, many could not plan for retirement. Has our government somehow done a better job?
As for the health of my 401(K), at this very second the Dow is at 12,706.17. Why in the name of God would anyone call that anything but healthy?
Sorry to be caustic Bro. I am not a rich man. But I will be damned if I am going to spend retirment counting my Social Security pittance. I have plans.
Why would I be insulted? Just because an insect prone to ruining wool coats and flying into the light, questioned my financial knowledge? I am not an expert. I have not devoted sufficient time to it to be so. My choice.
Doesn't one hiccup in the world often cause values to drop. One major corporation announces sizeable profits and the DOW spikes? That, IMO, is volatility. You can minimize it, but it is still relevant at least from a discussion point of view especially in these seemingly unprecedented times of global, economic down turn. Of course i again agree that we can minimize that with more conservative investments (from growth to equity or beyond) but even those are affected to some degree. Yes I too look at the DOW, S n P and other indicators occasionally. I do not do it daily and I agree that is silly especially when considering the long term nature of a 401k.
Still, five years ago or so, were I to have retired and been at the point where I had to use the 401 k funds, I would have been in questionable shape at best. At that point, the reduction of value was outpacing my contributions by a substantial amount. This went on for several years.
I do agree that putting faith in the government to manage my retirement is questionable at best but it's not like we had a choice regarding SS.
I am optimistic that my 401k will be healthy when needed. I am not a rich man either. SS is one small part of things but I have still put thousands in. As that same "non rich" man, I would not call that a pittance.
Why would I be insulted? Just because an insect prone to ruining wool coats and flying into the light questioned my financial knowledge? I am not an expert. I have not devoted sufficient time to it to be so. My choice.
Are you saying the market is stable? Doesn't one hiccup in the world often cause values to drop. One major corporation announces sizeable profits and the DOW spikes? That, IMO, is volatility. Of course we can minimize that with more conservative investments but even those are affected to some degree. Yes I too look at the DOW, S n P and other indicators occasionally. I do not do it daily and I agree that is silly especially when considering the long term nature of a 401k.
Still, five years ago or so, were I to have retired and been at the point where I had to use the 401 k funds, I would have been in questionable shape at best. At that point, the reduction of value was outpacing my contributions by a substantial amount.
I am optimistic that my 401k will be healthy when needed. I am not a rich man either. SS is one small part of things but I have still put thousands in. As that same "non rich" man, I would not call that a pittance.
No, no , NO.
I am saying that the long term time horizon- aka many years until retirement- pretty much neutrilizes market volatility. Of course markets are volatile. They're markets; places where buyers and sellers meet. How else should they be?
If you had retired around 5 years ago, you would not have been exposed to those problems because most people move towards more conservative investment vehicles the closer the get to retirment.
On the other hand, if you were saving for a car or a vacation to Paris, you would not use stocks or related securities because your time horizon is probably a few months to a year.
Or, I started saving for my kid's education the week he was born. Time Horizon = 18 years. So I am not going to put it in a bond or MM fund. I am reasonably certain that the stock market will have more value 18 years from now.
As I said, I have thrown a lot in SS as well. We both were coerced into a Ponzi Scheme.
There will be no real progress made as long as McConnell and other Republicans hold firm to their obstinate "no new taxes, no negotiations!" stand point.
I believe that exact tactic has been used by the left for many years.. Most recently used during the horrific train wreck called ObamaCare... If I remember right they even paid some senators off... Yeah pure as snow baby, pure as snow...
Why the hell is Obama always caving? Negoiating isn't one side saying "We want.." and the other side saying "ok". Can anybody name one instance where Obama said "No! This is off the table and that's final!"?
I think it is a power play on his part. Everyone will know that he is contemplating cutting SS because that's the only way the republicans will play. How's that going to make the R's look? Not too good...
Actually it makes Obama and his lot look worse....
Quote:
And your byline...you know that is a quotation from a movie, right?
Obama said it, but he didn't make it up.
Yes.He just used it when discussing how to deal with the opposition.
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I am not an expert. I have not devoted sufficient time to it to be so. My choice.
Yeah pure as snow baby, pure as snow...
Negoiating isn't one side saying "We want.." and the other side saying "ok". Can anybody name one instance where Obama said "No! This is off the table and that's final!"?
