Would you, if you had the choice, Opt Out of Social Security (premium, Obama)
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Quite so. The typical investor does not have the interest, background, time, or discipline to carry on as any sort of full-time portfolio manager. He or she would have to depend upon luck alone in order to outperform Social Security...
the typical liberal response that the majority of people are to stupid to live their own life, thus we must manage them...
the typical liberal response that the majority of people are to stupid to live their own life, thus we must manage them...
People are not born with equal intelligences and/or aptitudes. The top 25% IQs (110 and above) could probably, if they were so inclined, manage a portfolio well enough to provide for a decent retirement income. The bottom 75% would most likely have a real problem dealing with the complexities of finance. What do we do with them - throw them to the Wall St. wolves??
So, yes, a great majority of people DO need to be somewhat managed in order to ensure that they have a minimal income when they become too old to work.
People are not born with equal intelligences and/or aptitudes. The top 25% IQs (110 and above) could probably, if they were so inclined, manage a portfolio well enough to provide for a decent retirement income. The bottom 75% would most likely have a real problem dealing with the complexities of finance. What do we do with them - throw them to the Wall St. wolves??
So, yes, a great majority of people DO need to be somewhat managed in order to ensure that they have a minimal income when they become too old to work.
again, the same typical response that the great majority of humans are to stupid to manage their own money or future....
We should have a SS system that forces 15% or even 20% into a savings plan for every American. HOWEVER, those funds should be placed into an individual account OWNED by each person...
You mean like a 401-k, or a 403-b, or an IRA, or a Roth-IRA, or an SEP account? I think we have those already.
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Originally Posted by Ferd
...and the government should not have access to the funds AT ALL EVER.
What if I wanted to invest in US Treasury securities?
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Originally Posted by Ferd
The types of investments should be very limited to very safe investment vehicles.
You mean like US Treasury securities.
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Originally Posted by Ferd
I don’t understand why every American doesn’t consider it treason the way our government has burned up our Social Security money by putting it in the general treasury.
By investing it in US Treasury securities.
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Originally Posted by Ferd
I don’t know why every American doesn’t demand the system be changed.
I don't know why every American doesn't understand how SS currently works.
I'd rather see the cap lifted on wages taxed for SS than means testing. So basically, you put the burden on high earners more than on people that saved and built wealth.
Might be good at the same time to create a floor. Low-income people get clobbered by payroll taxes. It would take some numbers juggling though...
the typical liberal response that the majority of people are to stupid to live their own life, thus we must manage them...
The typical right-wing refusal to face up to and deal with reality. The world is entirely different from the way we claim that it is...
...but so what....
again, the same typical response that the great majority of humans are to stupid to manage their own money or future....
You are the one who is choosing the label "too stupid." I recognize that all humans are not created with equal 'smarts' and/or aptitudes. What might be easy for and obvious to me, isn't so to a great majority of humans. It is unfair, not to say ignorant, to expect identical output from widely varying sets of input.
You are the one who is choosing the label "too stupid." I recognize that all humans are not created with equal 'smarts' and/or aptitudes. What might be easy for and obvious to me, isn't so to a great majority of humans. It is unfair, not to say ignorant, to expect identical output from widely varying sets of input.
dude, you said only 25% of people were smart enough at managing their money.. that is an insult to 75% of americans...
the reason we are lacking in financial restraint in this country is because people believe the gov't has their back with social security and medicare and welfare...
if you cut off the hand outs.. only about less than 0.5% of the population would need extra help come retirment..
yes, that's right, people would actually learn about saving and investing, since it is THEIR RESPONSIBILITY
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