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OK! That's two. I think we get it. You're a liberal Democrat. Big deal! Both parties are responsible for the horrible financial condition of the country and neither has a lock on the necessary fix. If either one did, the other would explore every available, internecine way to see to it the other didn't succeed. They're all more interested in preserving their "power," positions and party than they are in the good of our country.
How can you label me as liberal democrat? Actually, I think of myself as a independent thinker/voter. I don't vote based on one issue or for a particuliar party either. Why should I or anyone else for that matter? I think that is politically laziness for anyone to vote straight anything without understanding what each candidate stands for.
You are right as far as the power hunger that lust in the hearts of the politicians in Washington. They all make at least six figures, so how can they relate to someone on welfare?
Well, it seems that is how the media is spinning it, but the actual thought behind it is that this takes the money out of the hands of politicians who have been raiding the Social Security fund for 40 years - and using that money to fund other programs.
Here lies the probelm, they have been dipping into SS for other programs and never returned the money. Now we have people who have paid into it most of their lives and now they are trying to say that it's "broke" give me a freakin break
Remember Al Gore's "lockbox?"
I don't think anyone is pushing an agenda to hand over money to wall street. If the SS system allowed for each of us to take at least a portion of the same money that is now being withheld from our checks, we could put it in IRAs, mutual funds, or money market funds. It would be a decision we would each make. It wouldn't be deducted from our checks and then handed to wall street, lol.
That makes sense to those of us who have an education to handle such matters, but the vast majority of Americans do not have a clue and they will end up turning over their life savings to some inept or crooked broker
I believe I could have invested my money better than the federal government has. It's all gone. The property I have bought is still there and paid for. I own it. More than I can say for the hundreds of thousands hubby and I have paid into the federal gubments treasure chest.
I agree, give me back the money that I put into it, with the correct amount of interest, I'm pretty sure that I can handle it
One of the probelms in Washington is that the tea baggers ONLY goal is to remove Obama from the White House! damn the American people! they proved that by blocking the debt ceiling negotiations. Listen closely to what some of them are saying "deregulation" is code word for less clean air and less food/safety inspections which means bigger profits for the corporations see Koch brothers and their paper mills. I can understand people being mad at the "moochers" but their are people that are really suffering. Here is something else to think about, if the tea baggers are really concerned about spending, how come they are not looking at trimming the over bloated politician's salaries like they did with the government workers? They get six figure salaries on top of lobbyist bribes and all the perks in the world.
Look - it is obvious you think the Tea Party folks are the root of all evil, lol.
I just find it hilarious (tho perplexing why the public would buy it) that - how many?- a handful of freshman Congressmen are being portrayed as having so much power! ROFLMAO! Now think about it. You have to have a majority to pass legislation. How the hell can a couple dozen people be holding up Jack Squat? I mean - talk about a MINORITY!
As far as Congressional salaries - that doesn't upset me. What upsets me is the same thing that upsets me about ALL gubment workers - it's the pension and bennies! Tell me how it is fair for my tax dollars to fund the largesse that is available to gubment employees - all of 'em - after they retire?????
And yes, lobbyists and special interest groups rule the world. I think we all agree on that.
May I remind you . . . since the beginning of this country . . . it has always been the opposing party's drive to remove the sitting President from his seat. It is silly to pretend like this is the first time that has occurred, ha ha ha. If you have lived much of a life at all, surely you noticed that phenomena for the last 50 or so years.
I agree, give me back the money that I put into it, with the correct amount of interest, I'm pretty sure that I can handle it
I feel sure you could, too! And I wish they would give me back mine!
Quote:
Originally Posted by simetime
That makes sense to those of us who have an education to handle such matters, but the vast majority of Americans do not have a clue and they will end up turning over their life savings to some inept or crooked broker.
I ask you just to consider this . . . altho I think most financial planners and brokers are bottom feeders . . . really . . . could they have done a much worse job than the federal gubment itself has done? Than Congress has done in robbing those funds for other programs?
Benefits have already been cut for people who need them, at least in California.
I don't live in California (tried to move there 40 years ago - love many areas of that beautiful state!) . . . so refresh my memory . . . but isn't the state of California broke?
They should have talked to other planners also then.
Its not Fidelity's fault they these people followed their advice.
I like to listen to all kinds of people but that does not mean I will take their advice like its like carved on a stone.
The best person to manage your money is YOU!
Knowledge is power.
Quote:
Originally Posted by Shooting Stars
This happened to one of my relatives.
They retired with a lump-sum of money and went to a financial planner at Fidelity. Fidelity (may they rot in Hell) was the worst mistake they ever made.
They immediately wanted to pay off the house, but the Fidelity financial planner talked them out of it. They were told to keep making payments so they could deduct the interest from their taxes. This is lousy advice for retirees.
The financial planner portioned out the money in various investments. They were told there was a designated amount of money they could safely withdraw every year. A smaller amount went into stocks to reduce risk since they were already retired.
So they were withdrawing the set amount each year until they found out a year ago that they were not withdrawing interest; they were actually drawing down their principal because of the way it was set up!
They were in shock. They had drawn down nearly everything. Not long after that revelation, the portion that was in stocks was wiped out with the economic meltdown.
They found out later that the stock portion could have been set up so that they couldn't lose their initial investment, but they were never told about that plan even though it was available. And of course the main investment could have been set up differently.
So now they're in their seventies, living on social security, with zero retirement savings and still paying a mortgage. They got very little benefit from their own money since the financial planner bungled it up so badly.
They would have done better to research and plan it themselves instead of relying on the incompetent Fidelity financial planner. If they had relied on their own counsel, at least the house would be paid off.
The moral of the story is to never do anything you don't thoroughly understand. Read about investing and read the damn fine print!
Madoff was a private firm. Nothing big like Fidelity or Vanguard.
They were idiots if they trusted one single person for their life investments.
Why would you put all your retirement in Worldcom and Enron?
Retirement is suppose to be well diversified in different sectors.
Quote:
Originally Posted by nicet4
Tens of thousands of people had their life
savings and retirement dreams pinned on WorldCom, Enron and Bernie Madoff.
Like you they thought they were smarter than most and certainly more sophisticated. I am sure many who had invested at one time scoffed at social security, many wishing they could opt out saving thousands in taxes for a program meant for 'the little people'.
Nothing is sure in this life and that fantastic retirement fund you seem to be gloating over can turn to pig mud in the blink of an eye.
I don't live in California (tried to move there 40 years ago - love many areas of that beautiful state!) . . . so refresh my memory . . . but isn't the state of California broke?
It's in pretty bad shape economically, but it's not the worst of all the states (last time I read about it). Not broke yet. Trying hard not to get there.
I get a double-dose of it, though, living in San Diego. San Diego is also not broke ... yet. Plus we have politicians who are in bed with developers, and nobody in power seems to give a damn about the people.
I am so much better off since Obama has taken office. Just look at the stock market returns from the day he took office till today.
My taxes have been lowered.
Quote:
Originally Posted by Curmudgeon
And his campaign is paying you how much for these posts? Bet they donate the kool-aid as well.
I love 30-something, life experts. They're so amusing!
I've yet to come across a present-day politico with a true lock on how to protect and expand the best interests of our country. As one who worked in politics for the better part of 20 years I can assure you that their primary emphasis is to remain in office and rise to the next higher one. If you want to know where they really stand, just follow the money - the "Mother's milk of politics!" (Jesse "Big Daddy" Unruh, Speaker of the California Assembly 1961-69).
A person making $30K a year maybe well off then someone making $100K a year.
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