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Old 11-24-2018, 04:47 AM
 
Location: A safe distance from San Francisco
8,555 posts, read 6,146,008 times
Reputation: 8510

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Quote:
Originally Posted by Backintheville2 View Post
Forty years ago, many boomers were just starting out in their careers and were in their early 20's. In 1978, 401k's came into being and boomers and others in the workforce at the time were told a 401k would be "one spoke on the stool" of a person's retirement.

Unfortunately, it was too easy to do a hardship withdrawal from a 401k, leaving some who did that with less than they might have had otherwise in their future retirement.

Traditional IRA's started in 1974 as well. Roth IRA's came in 1997. I opened a Roth IRA in 2008 and should have done it earlier. If millennials would consistently fund either type of IRA from their 20's, and not dip into them before retirement, they would be in a better position when facing retirement down the road. I'm glad I opened a Roth IRA, but I did it at age 50 so mine won't be as well funded as it could have been. So that's on me. The point is don't forget to fund an IRA in your 20's! But I get how millennials think as my niece looked at me like I was from Mars when I tried to explain that to her!
You're off on an investment advice tangent. None of that is relevant to the question.
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Old 11-24-2018, 11:19 AM
 
6,995 posts, read 6,988,918 times
Reputation: 5806
Mitch McConnell and the Repubs want to end all entitlements. So Millenials will be lucky if they get Social Security or any social programs at all. If any of you want Social Security in the future, better vote Dem!
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Old 11-24-2018, 11:30 AM
 
Location: Wasilla, AK
7,254 posts, read 4,139,840 times
Reputation: 15666
Quote:
Originally Posted by staywarm2 View Post
Mitch McConnell and the Repubs want to end all entitlements. So Millenials will be lucky if they get Social Security or any social programs at all. If any of you want Social Security in the future, better vote Dem!
That is an absolutely ridiculous assertion. I'm tired of hearing this lie repeated over and over. I didn't hear any Republican running on a get rid of SS platform.
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Old 11-24-2018, 11:39 AM
 
71,564 posts, read 71,730,589 times
Reputation: 49168
Quote:
Originally Posted by staywarm2 View Post
Mitch McConnell and the Repubs want to end all entitlements. So Millenials will be lucky if they get Social Security or any social programs at all. If any of you want Social Security in the future, better vote Dem!
nonsense !!!!!1
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Old 11-24-2018, 11:39 AM
 
Location: SoCal
13,227 posts, read 6,331,374 times
Reputation: 9844
Quote:
Originally Posted by staywarm2 View Post
Mitch McConnell and the Repubs want to end all entitlements. So Millenials will be lucky if they get Social Security or any social programs at all. If any of you want Social Security in the future, better vote Dem!
You got the name wrong, it was Ryan, but he is retiring in January, not Mitch McConnell. But I think this post belongs to the political section. Shame on you for posting it here.
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Old 11-24-2018, 12:00 PM
 
Location: Central Illinois -
21,562 posts, read 14,362,527 times
Reputation: 14698
If they ultimately cut this program, and working people no longer have Social Security payments deducted from their paycheck, there is detailed information on every one of us on how much our contributions were over our working life. Cut me the check and I'm good (I factor in my pension and my 401K savings in this decision) I cannot collect for another 10 years, and 2028 sounds like an important year in the calculus and lifespan of the program.

And quit calling it an "entitlement", I've paid into this program for over thirty years, and counting.
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Old 11-24-2018, 02:22 PM
 
6,942 posts, read 3,064,107 times
Reputation: 4424
Quote:
Originally Posted by AlaskaErik View Post
That is an absolutely ridiculous assertion. I'm tired of hearing this lie repeated over and over. I didn't hear any Republican running on a get rid of SS platform.
No, what they do is keep pushing the age to collect higher, partial payments if taken "early", etc. No politician will ever "get rid of SS", what they will do is inflate it away until pretty soon all you can buy is a can of soda with it.
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Old 11-24-2018, 02:24 PM
 
71,564 posts, read 71,730,589 times
Reputation: 49168
A professional couple can see 80k today if they delay and that gets inflation adjusted as it is delayed .
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Old 11-24-2018, 02:25 PM
 
6,942 posts, read 3,064,107 times
Reputation: 4424
Quote:
Originally Posted by odanny View Post
If they ultimately cut this program, and working people no longer have Social Security payments deducted from their paycheck, there is detailed information on every one of us on how much our contributions were over our working life. Cut me the check and I'm good (I factor in my pension and my 401K savings in this decision) I cannot collect for another 10 years, and 2028 sounds like an important year in the calculus and lifespan of the program.

And quit calling it an "entitlement", I've paid into this program for over thirty years, and counting.
If you dont want to be a dirt farmer slaving away until you die the far right refer to any thing nice that someone wants as an "entitlement". I am sure there are entitled people but I have never met them. Wanting adequate pay for work performed and opportunity for GOOD work is now being labeled as "entitlement".
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Old 11-24-2018, 02:33 PM
 
13,319 posts, read 25,561,639 times
Reputation: 20505
Quote:
Originally Posted by Mircea View Post
...I've never seen Easy Rider and don't care to see it, since I don't like Jack Nicholson or Peter Fonda, and the reality is the only decent movies that came out of the 1960s was Planet of the Apes, Dr Strangelove and Guns of Navarone, although I do like Mary Poppins and the Sound of Music.
Thanks so much for this cogent response.

I saw Easy Rider when it came out, have loathed Jack Nicholson ever since he was nasty to the waitress (and I was waitressing at the time, as was my mother) and keep looking for other people who find his smarmy presence in films insufferable.
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