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I don't disagree, as long as they don't come back and ask big daddy government to bail them out afterwards. Also as long as providers offer options that have nothing to do with woke foolishness. Political/social ideology has no place in investment in my book. I invest on risk-adjusted returns ONLY.
Also, last I checked, that insolvent ponzi scheme that is social security wasn't optional. At least my 401k is in my name, no one can redirect my investments, and is not a ponzi scheme.
SS is an insurance program and not a ponzi scheme, people throw that around and all it tells me is their degree of financial illiteracy.
Actually, it's OASDI and if you do not know what those letters stand for then you need to learn more before going all "ponzi scheme".
OASDI will not go insolvent, it will be funded with any combination of higher taxes or reduced benefits....but that voting segment is wayyyyy too lethal to be ignored by politicians.
SS is an insurance program and not a ponzi scheme, people throw that around and all it tells me is their degree of financial illiteracy.
Actually, it's OASDI and if you do not know what those letters stand for then you need to learn more before going all "ponzi scheme".
OASDI will not go insolvent, it will be funded with any combination of higher taxes or reduced benefits....but that voting segment is wayyyyy too lethal to be ignored by politicians.
Have you had to purchase a private insurance plan with a gun to your head?
SS is an insurance program and not a ponzi scheme, people throw that around and all it tells me is their degree of financial illiteracy.
Actually, it's OASDI and if you do not know what those letters stand for then you need to learn more before going all "ponzi scheme".
OASDI will not go insolvent, it will be funded with any combination of higher taxes or reduced benefits....but that voting segment is wayyyyy too lethal to be ignored by politicians.
When's the last time BlueCross put a gun to your head, forced you to buy insurance, and took it out of your paycheck?
BTW: the Social Security Trust Fund has $2.9 trillion left in it, receives $1.1 trillion in premiums, and pays out just shy of $1.1 trillion in benefits. Returns from the Trust Fund are $60 billion. No insurance Trust Fund on the face of this planet is operated like this. And social security operates more like a pension than insurance...and as far as annuity funds go, it's functionally insolvent.
If there was a social security opt-out, I'd opt out in a nanosecond, and do it without a second thought. Every time I see how much money goes to the bottomless money pit that is SSA (that ALWAYS seems to be running out of money in 15 years...surprise surprise ) on my payslip it makes my blood boil.
Last edited by albert648; 11-09-2021 at 06:59 PM..
When's the last time BlueCross put a gun to your head, forced you to buy insurance, and took it out of your paycheck?
BTW: the Social Security Trust Fund has $2.9 trillion left in it, receives $1.1 trillion in premiums, and pays out just shy of $1.1 trillion in benefits. Returns from the Trust Fund are $60 billion. No insurance Trust Fund on the face of this planet is operated like this. And social security operates more like a pension than insurance...and as far as annuity funds go, it's functionally insolvent.
If there was a social security opt-out, I'd opt out in a nanosecond, and do it without a second thought.
It's OASDI....not social security. You're chirping over there from the edge of the pool wearing water wings while I'm swimming in the deep end.
You're comparing a government mandated program and admit "gun to head" and then whine that it's not like private insurance.
Are you also confused why if I fired a hellfire missile on a family gathering in the US why I would go to jail while an airforce drone can do it in Afghanistan without an arrest?
It's OASDI....not social security. You're chirping over there from the edge of the pool wearing water wings while I'm swimming in the deep end.
You're comparing a government mandated program and admit "gun to head" and then whine that it's not like private insurance.
Are you also confused why if I fired a hellfire missile on a family gathering in the US why I would go to jail while an airforce drone can do it in Afghanistan without an arrest?
I don't care what it's called, it returns 1% when the S&P 500 returns 10% and that's what I need to know about it.
I've worked in investment management for decades (companies that managed the wealth of individuals as well as companies that created products that sell in the stock market). People have been asking for socially responsible investing for a LONG time by now. Why not provide the option if that's what people want? They can still choose investments in a 401k outside of those options.
Why would anyone want to restrict the options a person has in a 401k plan?
I've worked in investment management for decades (companies that managed the wealth of individuals as well as companies that created products that sell in the stock market). People have been asking for socially responsible investing for a LONG time by now. Why not provide the option if that's what people want? They can still choose investments in a 401k outside of those options.
Why would anyone want to restrict the options a person has in a 401k plan?
Key word: OPTION. But nothing the government regulates ends there.
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) on my payslip it makes my blood boil.
