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How the GOP will kick the elderly off health care.

Are you closer to 18 or closer to retirement?

i'm 43. is retirement still a thing for me? i suppose that depends on whether or not the next economic crash sends me back to an earlier spot on the board again. i'm wondering if i'll ever reach Doc Possum's house at this point.
 
i'm 43. is retirement still a thing for me? i suppose that depends on whether or not the next economic crash sends me back to an earlier spot on the board again. i'm wondering if i'll ever reach Doc Possum's house at this point.

Sounds like you're about right in the middle.

I'm about 3 months away from 65, so the deal with me is already baked. This gives me a unique perspective from most of my previous life, though.

Contributing far less to my various 401K's over the years than to my Social Security fund, I find that I will reap a better return from the Annuity I set up with the 401 K funds than I will gain from SS.

The way the math worked out for me, I had not saved a sufficient amount to fund retirement with the 4% to 5% a year withdrawal from a big ol' pile of money. I would have run out if I lived into my mid to late 80's.

With the annuity plus Social Security, I get a raise the day I retire and, if I were to die the day after retirement, my heirs get about a quarter million from my annuity cash out and about $500 from Social Security. The $500 part will surely make their dreams come true if my passing failed to do so.

Given the math, the Ponzi Scheme approach currently in use by Social Security is a really stupid solution to this riddle. Higher costs, lower returns, no cash out potential and no wealth creation.
 
Sounds like you're about right in the middle.

I'm about 3 months away from 65, so the deal with me is already baked. This gives me a unique perspective from most of my previous life, though.

Contributing far less to my various 401K's over the years than to my Social Security fund, I find that I will reap a better return from the Annuity I set up with the 401 K funds than I will gain from SS.

The way the math worked out for me, I had not saved a sufficient amount to fund retirement with the 4% to 5% a year withdrawal from a big ol' pile of money. I would have run out if I lived into my mid to late 80's.

With the annuity plus Social Security, I get a raise the day I retire and, if I were to die the day after retirement, my heirs get about a quarter million from my annuity cash out and about $500 from Social Security. The $500 part will surely make their dreams come true if my passing failed to do so.

Given the math, the Ponzi Scheme approach currently in use by Social Security is a really stupid solution to this riddle. Higher costs, lower returns, no cash out potential and no wealth creation.

i have worked in science in a red state since 1999, which means that most of my jobs have either been in academia or pretending that i'm an independent contractor in industry. this means that my retirement is dependent on a public employee retirement fund, a 401k which i have paid into for about three years, and social security. every now and again, Republicans try to tell me that they need to skim more off of the public pension because it's unsustainable, even though i accepted a lower salary in exchange for that as a benefit. do i trust them to "privatize" social security?

nope. no ****ing way. i have no party to vote for, but i will vote against that as long as i have a vote to cast.
 
i have worked in science in a red state since 1999, which means that most of my jobs have either been in academia or pretending that i'm an independent contractor in industry. this means that my retirement is dependent on a public employee retirement fund, a 401k which i have paid into for about three years, and social security. every now and again, Republicans try to tell me that they need to skim more off of the public pension because it's unsustainable, even though i accepted a lower salary in exchange for that as a benefit. do i trust them to "privatize" social security?

nope. no ****ing way. i have no party to vote for, but i will vote against that as long as i have a vote to cast.

Pension Funds and Social Security are about the same in my understanding of the things. As individuals, we do not "own" them.

An actual 401K is owned by the individual much like a house is owned by an individual.

Is it only Republicans announcing the "skimming" of your pension fund?

In my experience, any politician will "skim" any money off anything to line their own pockets.

I don't know that I've ever seen a politician that understands that my money is not his money. Maybe that's why they steal so much so often. They believe in their hearts that it's already their's.

Regarding Pension Funds, it seemed like hardly a year passed in the 90's and 00's that some huge pension fund didn't announce a cut in benefits or simply that they had become insolvent.
 
Pension Funds and Social Security are about the same in my understanding of the things. As individuals, we do not "own" them.

An actual 401K is owned by the individual much like a house is owned by an individual.

Is it only Republicans announcing the "skimming" of your pension fund?

In my experience, any politician will "skim" any money off anything to line their own pockets.

I don't know that I've ever seen a politician that understands that my money is not his money. Maybe that's why they steal so much so often. They believe in their hearts that it's already their's.

Regarding Pension Funds, it seemed like hardly a year passed in the 90's and 00's that some huge pension fund didn't announce a cut in benefits or simply that they had become insolvent.

cutting my pension is the same thing as telling you that your past salary was unsustainable and then sending you a bill for the difference. i accepted that pension in place of a higher salary. taking away any of it is breach of contract at best and theft at worst. there's not much that i can do about it except to vote against the side that is most vocal about screwing me out of my retirement.
 
cutting my pension is the same thing as telling you that your past salary was unsustainable and then sending you a bill for the difference. i accepted that pension in place of a higher salary. taking away any of it is breach of contract at best and theft at worst. there's not much that i can do about it except to vote against the side that is most vocal about screwing me out of my retirement.

That side would be the one that does not figure a way to maintain it.

Failing to plan is planning to fail.
 
That side would be the one that does not figure a way to maintain it.

Failing to plan is planning to fail.

we definitely need to figure out a way to keep our social programs solvent. we have some options there. however, we will need to vote out lawmakers who have a vested interest in doing nothing.
 
we definitely need to figure out a way to keep our social programs solvent. we have some options there. however, we will need to vote out lawmakers who have a vested interest in doing nothing.

ALL of our lawmakers have a vested interest in doing nothing. That's the trouble.

If I was YOUR representative and explained to your that I wanted to assure that Social Securtiy was stringer for you when you retire, You'd probably be happy with that goal.

If I went on to explain that I wanted to do something about it using the 401K model with an annuity for longevity, that is, doing something, you'd be against me.

Our lawmakers do nothing for a reason.

As personal advice for you, start a 401K for yourself today that independent of your employer or occupation.
 
ALL of our lawmakers have a vested interest in doing nothing. That's the trouble.

If I was YOUR representative and explained to your that I wanted to assure that Social Securtiy was stringer for you when you retire, You'd probably be happy with that goal.

If I went on to explain that I wanted to do something about it using the 401K model with an annuity for longevity, that is, doing something, you'd be against me.

Our lawmakers do nothing for a reason.

As personal advice for you, start a 401K for yourself today that independent of your employer or occupation.

I work in a right to work for less / at will state, so there isn't a lot of extra money. I'm lucky to have a pension, social security, and a small IRA. Republicans keep trying to mess with the first two, unfortunately.
 
I work in a right to work for less / at will state, so there isn't a lot of extra money. I'm lucky to have a pension, social security, and a small IRA. Republicans keep trying to mess with the first two, unfortunately.

If I were, of course I'm not, but if I was, I'd see about converting the Pension fund into the 401K + Annuity Model.

Take it into your own hands and you won't need to worry about which lying, cheating, self-interested party of thieves is going to rob you.
 
If I were, of course I'm not, but if I was, I'd see about converting the Pension fund into the 401K + Annuity Model.

Take it into your own hands and you won't need to worry about which lying, cheating, self-interested party of thieves is going to rob you.

thanks for the advice. i might talk to my advisor about my options. we have a Republican supermajority here and my pension is the same one that teachers get. given the current level of contempt for public education and for public school teachers among the Republicans in charge, i doubt that the pension is anywhere near safe.
 
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