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Well...the rest of us are getting the same amount of money taken away too, but we still save right? I've certainly never used taxes as a excuse to not be smart with my cash. I'll make a good bet you never did too
The premise of this piece is fairly simple. The author says under current "economic" conditions he can't retire. He never said he didn't save enough.
Many tend to agree with Jarhead's premise, that under these economic conditions, with the country deeper in debt than at any point in history, when the printing presses are printing worthless money 24/7, and when savers don't know if their investments/savings are secure or how much they'll be worth if the dollar is devalued. In these times it is a little difficult to have certainty about the future. Not knowing what goods and services will cost years down the road, it is unwise for people Jarhead's age to retire prematurely and run out of money because of hyperinflation or a worthless dollar. Instead, it is more practical to continue working in some capacity as long as feasible, and delay drawing from retirement accounts.
Something can be said for the older generation's not retiring too quickly and being a burden on the system or the family. But that's a concept the liberals probably cannot understand.
Regarding AMT, I've read the blog/article a few times and I don't remember seeing that AMT in there at all. I think it's safe to assume that if this was the problem why he cannot retire we would mention it in the rant. Don't you agree?
Sure I get a refund. Does that not mean I don't pay taxes? Nope. Do I have a large deduction due to mortgage and property tax? Yup.
Quote:
Originally Posted by mikeym81
Maybe you should look at my finances before knocking it
I can't fault anyone for using the IRS as a holding place for their $$. You said it works for you, so that's good. It's not the best or smartest way to save, but it's one way that a lot of people seem to use. I did it too, when I was younger. Then I got smarter.
However, looking forward, it'll be interesting to hear from you once the taxes, under all their different aliases, kick in. You may one day end up feeling just like this guy in the OP.
Regarding AMT, I've read the blog/article a few times and I don't remember seeing that AMT in there at all. I think it's safe to assume that if this was the problem why he cannot retire we would mention it in the rant. Don't you agree?
No. He specifically mentions being asked to pay, repeatedly, for others' mistakes and poor choices. AMT or not, money taken from him to pay for others reduces his ability to save for his own retirement.
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