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"Even Mr. Holbrook has outlived his Alternate Plan benefits. When he retired 15 years ago, he decided to receive $1,500 to $2,000 from his Alternate Plan account every month for 10 years. Now, his Alternate Plan account is empty.
Fortunately, Mr. Holbrook has other savings and, ultimately, $1,300 a month in Social Security benefits from his 27 years of contributions before his county dropped out of the program."
Had GW's plan to privatize gone through, people would have been devastated in 2008/2009.
They tried it in UK too, and the only party who was happy were the financial institutions who ended up raking in half of people gains in form of fees.
They should allow you to be part of a privatized system so you can get better returns and count on it being there.
Never, the GOP has tried to privatize it before. 2007-2010 would have killed the system. The method devised of buying treasury bonds to store is the smartest and safest method of funding. POTUS does not like to pay for anything and would be more then happy to default on those Treasury Bonds.
SS and Medicare are the financial conservative base of your retirement.
Lots of people think they can do better than social security on a risk adjusted basis. The fact they quote 401K results as "evidence" undercuts their veracity. None have ever priced annuities with survivor benefits, obviously.
2/3's have no 401K and those over 65 that have one have an average of $200K. Not encouraging at all!
Twice in the last 17 years people nearing retirement have seen their equity balances savaged at the most inopportune times! A lot of then lost their jobs at the same time. I've seen it first hand. They all thought they were wonderful investors. Until they weren't.
Now let's just suppose that for some reason they must stop working well before 65. Ooops!
401Ks began in 1978 which still makes them relatively young. So it is no surprise that a lot of people do not have them.
Whoever only has 200k in them only has themselves to blame. Put more in. Get rid of cable <gasp!> and save that for retirement.
People nearing retirement should only be partially in equities. That is Common Sense Investing 101.
Most people should find a good financial planner. You are one such person.
Never, the GOP has tried to privatize it before. 2007-2010 would have killed the system. The method devised of buying treasury bonds to store is the smartest and safest method of funding. POTUS does not like to pay for anything and would be more then happy to default on those Treasury Bonds.
SS and Medicare are the financial conservative base of your retirement.
The privatized system in Galveston has proven to work.
Obviously those who want government control more than anything else will not recognize that.
“I don’t care if people would be better off, it something the DNC is against; therefore, I must be against it to.”
"Even Mr. Holbrook has outlived his Alternate Plan benefits. When he retired 15 years ago, he decided to receive $1,500 to $2,000 from his Alternate Plan account every month for 10 years. Now, his Alternate Plan account is empty.
Fortunately, Mr. Holbrook has other savings and, ultimately, $1,300 a month in Social Security benefits from his 27 years of contributions before his county dropped out of the program."
Had GW's plan to privatize gone through, people would have been devastated in 2008/2009.
Oh, so you’re saying it’s a failure that a person who only paid in for 12 years is getting between $1500 and $200 a month?
ROFLMAO.
Please tell me how much SS he would have received if he started putting into SS at 20 and began taking his benefits at 32.
You do realize that he only contributed to that system for 12 years don’t you?
Wow, you sure did step in it on that one.
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