Not real concerned with it, something like 85% of my generation doesn't even believe it will be around when we retire nor will we ever see a penny of our contributions back.
If you don't fight for your hard earned money, then there's little chance you'll get it back.
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Woe to him who builds his palace by unrighteousness,his upper rooms by injustice,making his countrymen work for nothing...Does it make you a king to have more and more cedar?Did not your father have food and drink?He did what was right and just,so all went well with him. He defended the cause of the poor and needy,and so all went well...But your eyes and your heart are set only on dishonest gain,on shedding innocent blood and on oppression and extortion. Jer 22:13, 15-17
Not real concerned with it, something like 85% of my generation doesn't even believe it will be around when we retire nor will we ever see a penny of our contributions back.
Yeah, it will. It'll be part of Hillary Care.
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I Hate GM, deal with it.
One shot, One Kill! Don't waste ammo, it's pricey!
2005 GT Screaming Yellow: SLP Loudmouths
Ibanez guitars, S&W revolvers, Glock Semi's
Republican write in Presidential Candidate 2012
Hey, why not give Social Security money to illegals? We already hear, on a daily basis, how the SS system may not be in place when some of us reach retirement age, yet our government spends billions of dollars to 'liberate' or bail out all these pissant little countries all over the globe. I say, "Screw 'em." If we liberate you and you have oil money, etc. you will pay us back, with interest - and not at some ethereal point 'in the future' but as soon as possible. Period. Call it mercenary or whatever you like, it's time the American people stopped footing the bill for everything while our elderly have to work until they drop dead because they can't afford to retire. Here's an idea - this year, instead of sending all that aid money to this or that country none of us have ever heard of, or fighting another war to 'liberate' people who hate our guts, how about our government take those billions and deposit them in the Social Security fund. I'd be willing to bet that one year - just one - of taking care of ourselves instead of taking care of everybody else on the planet would make our SS system solvent for a very, very long time. Next thing? Leave enough money in the system to pay those folks who are already on SS then take the rest and establish a system more like Germany's where each and every individual LEGAL worker has an 'account' in their name and when they retire, that money is theirs, individually - much like a 401K. Solves the 'illegals getting credit' problem real quickly as you wouldn't be eligible for an account unless you were here legally. Our current system robs Peter to pay Paul and is not the best possible system, anyway. As for other folks - folks born with disabilities and never able to work - they would still receive aid, but not from the blanket 'Social Security' system. If they are never able to work, they would never be eligible for Social Security except, possibly, benefits from the account of a deceased parent. The thing that really sticks in my craw is that it sound like someone could come here illegally, work illegally, get paid under the table illegally, never pay taxes or pay into the Social Security system, receive amnesty and then suddenly get credit under the SS system for the time they worked illegally, even though they contributed nothing during that time. Even if they somehow did contribute to SS while working illegally, as has been pointed out, illegal is illegal and people are not supposed to be allowed to legally benefit from illegal activity, right?
My grandmother, who worked from the time she was 16 until whe was in her 70s and her health would no longer allow, could barely afford to make it from month to month on Social Security once she had to retire. What's wrong with that picture?
Once again, my opinion also, but put more eloquently.
STAY OUT OF MY DANG MIND JB!!!!!!!!!!!!
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I Hate GM, deal with it.
One shot, One Kill! Don't waste ammo, it's pricey!
2005 GT Screaming Yellow: SLP Loudmouths
Ibanez guitars, S&W revolvers, Glock Semi's
Republican write in Presidential Candidate 2012
True enough, I just don't have any faith in the system.
I'd prefer a privatized 401k based system where I can manage my own contributions.
But the company can use your money as assets. you can lose all of it you may manage your contributions, but it's NOT yours until you have the cash in hand. Ask any flight attendant or airline mechanic.
Furthermore, if it's NOT through your employer, you'd be surprised how many fees are applied.
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Woe to him who builds his palace by unrighteousness,his upper rooms by injustice,making his countrymen work for nothing...Does it make you a king to have more and more cedar?Did not your father have food and drink?He did what was right and just,so all went well with him. He defended the cause of the poor and needy,and so all went well...But your eyes and your heart are set only on dishonest gain,on shedding innocent blood and on oppression and extortion. Jer 22:13, 15-17
But the company can use your money as assets. you can lose all of it you may manage your contributions, but it's NOT yours until you have the cash in hand. Ask any flight attendant or airline mechanic.
Furthermore, if it's NOT through your employer, you'd be surprised how many fees are applied.
If it was a national system to replace social security. I'd hope they'd address those issues along with a hundred more.
But the company can use your money as assets. you can lose all of it you may manage your contributions, but it's NOT yours until you have the cash in hand. Ask any flight attendant or airline mechanic.
Furthermore, if it's NOT through your employer, you'd be surprised how many fees are applied.
Modern 401k's CAN be mismanaged to the extent you portray, though its gotten really hard to do this now. As for 10 years ago? Absolutely, particularly those companies that required you to hold all or most of the money in their stock. This is no longer legal. Even those companies who were matching your contributions with their stock that had a requirement that you hold that stock long term can no longer do this, and the last companies that were still doing this prior to the rules changes have been sued and are shelling out big money to their employees because of it (BellSouth is one).
If you diversify within your 401k, its one of the safest investments out there (under current law - as with any investment, due diligence on your part is essential to protect your own interests). Conventional pension plans can STILL be tied to the company's stock price, and hence are more vulnerable than are 401k's (and the other 401 plans).
I recommend anyone with access to a 401k plan through their employers that includes fund matching take advantage of this opportunity. At the same time, I caution them to avoid tying up much of the money in their employer's stock - if you have more than a fourth of your nestegg in the company's stock, you're taking a big risk, even if you are young.
If you don't have access to a 401k, I recommend you consider a Roth IRA (you prepay the taxes now, but the proceeds and growth within the plan are henceforth tax free - its one of the best programs for saving out there).
Social Security is a lousy investment, even IF its around long enough to see you leave this plane of existence! Of course, SS is no more an investment than Federal Income Tax paid to the IRS is. Social Security is an income redistribution and social medicine scheme masquerading as a "retirement" program. Anyone who expects it to survive with its current facets intact beyond about 14 years from now is confused.
Its like a lot things. The question is not IF it will go bankrupt, but WHEN. When there are 1.3 workers for every retired person, the combined tax burden will approach Stalinist levels. This is one reason I forsee a socialist future for my children. The first major portion of the economy that will be subsumed by this socialist tidal wave will be the medical industry, followed soon afterward by the insurance industry.
By the time the majority of the economy is within the government, the fact that Social Security is just another line item on the welfare system list will mean very little.
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tripleblack
"You can never be free until you let yourself go."
If it was a national system to replace social security. I'd hope they'd address those issues along with a hundred more.
Its quite feasible to create a quasi-private system. Fees are NOT uniform - multitudes of purely private funds have zero fee, zero load funds (even more require only a tiny up-front fee, and are then zero load thereafter). Even purchases of individual stocks can be made directly from many companies via "drip" plans that have no fees and require no minimum investment. Given that all these things (and much more, including some very outrageous fee-fed funds such as KS mentioned which I would never recommend) are already out there, creating an over-arcing, federally managed (but quasi-private) social retirement program would be perfectly do-able.
The fact that such a program would de-power much of the Federal Government means that it will probably never happen, even if sufficient education is given the masses to counteract the inevitable demagoguery which will dog its steps.
Socialized medicine will come to pass because of the venality and incompetence of the three primary participants: The corporate medical industry (including care providers, drug manufacturers, hospital chains and doctors) - The insurance industry - and the multiple layers of Government involved in providing and regulating medical treatment.
Social Security will consume the various pension industries, much of the investment community, and certainly all other government retirement programs, washing them all into a titanic tsunami wreck of social welfare entitlement.
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tripleblack
"You can never be free until you let yourself go."
And on that note… undocumented worker? I was born in the US, served my country as a soldier and as a police officer, and I could not get a single job without documentation. I had to prove who I was, and prove I was able to work in the country of my BIRTH legally. It just puts a bur in my saddle to see people who are clearly not here legally get jobs.
I say punish those employers who hire illegal workers. And do it in such a way that it makes doing so more costly than if they paid LEGAL workers wages and benefits that are standard for US citizens.
Fake documents are readily availiable to anyone for around 400 bucks. SS cards are easy to falsify, and most employers do not know of the security features for the US "Green Card." Also, because of the differences in state driver licences, many employers do not know what to look for for fake IDs, other than the state they conduct business. The majority of people who work illegally, with the exception of cash day-laborers, work with fake documentation.
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1988 Supercharged 'Vert - SOLD!!!
1970 F100 - 10 bolt posi Rear end, Fuel Injected 302, Traction Bars, EQ shorties, Bed Cover, Custom Interior with power leather seats- custom dash/console, AOD w/ B&M shifter, Tubbed w/ 15x10s rear and 15x7s up front, no emissions junk and it's LEGAL!!!
"Only two defining forces have ever offerred to die for you: Je$us Christ and the American G.I." - Author Unknown
A number of states have been issuing illegals "valid" identification, including picture id and even driver's licenses. Tennessee and Georgia do this, with Georgia a particular favorite due to the ease of the test and the ready availability of sympathetic spanish speaking assistance and test forms upon request.
All you illegals out there: Don't bother buying fake documents - just find out which states will HELP you with your problem!
Quote:
Originally Posted by WITELITENIN
Fake documents are readily availiable to anyone for around 400 bucks. SS cards are easy to falsify, and most employers do not know of the security features for the US "Green Card." Also, because of the differences in state driver licences, many employers do not know what to look for for fake IDs, other than the state they conduct business. The majority of people who work illegally, with the exception of cash day-laborers, work with fake documentation.
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tripleblack
"You can never be free until you let yourself go."
A number of states have been issuing illegals "valid" identification, including picture id and even driver's licenses. Tennessee and Georgia do this, with Georgia a particular favorite due to the ease of the test and the ready availability of sympathetic spanish speaking assistance and test forms upon request.
All you illegals out there: Don't bother buying fake documents - just find out which states will HELP you with your problem!
Kansas law is a joke too. To get a license, all you have to show is a picture ID, and answer 7 questions. One of those questions is "Do you have legal US residence?" Just don't say "No."
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1988 Supercharged 'Vert - SOLD!!!
1970 F100 - 10 bolt posi Rear end, Fuel Injected 302, Traction Bars, EQ shorties, Bed Cover, Custom Interior with power leather seats- custom dash/console, AOD w/ B&M shifter, Tubbed w/ 15x10s rear and 15x7s up front, no emissions junk and it's LEGAL!!!
"Only two defining forces have ever offerred to die for you: Je$us Christ and the American G.I." - Author Unknown
Socialized medicine will come to pass because of the venality and incompetence of the three primary participants: The corporate medical industry (including care providers, drug manufacturers, hospital chains and doctors) - The insurance industry - and the multiple layers of Government involved in providing and regulating medical treatment.
Social Security will consume the various pension industries, much of the investment community, and certainly all other government retirement programs, washing them all into a titanic tsunami wreck of social welfare entitlement.
Don't forget about the trial lawyers who make the Doctor's insurance rates what they are.
__________________
I Hate GM, deal with it.
One shot, One Kill! Don't waste ammo, it's pricey!
2005 GT Screaming Yellow: SLP Loudmouths
Ibanez guitars, S&W revolvers, Glock Semi's
Republican write in Presidential Candidate 2012
Many corporations are hiring bit shot Mutual Fund directors and people of that sort to develop and manage their 401(K) and retirement funds. The company I work for has something like 9 different funds that are non-corporation that can be mixed and matched to diversify just about anyone's portfolio very nicely. We even have funds that will automatically re-diversify every so often based on your tartgeted retirements date.
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Sometimes I think that government fits that old-fashioned definition of a baby: An alimentary canal with an appetite at one end and no sense of responsibility at the other.
- Ronald Reagan
Don't forget about the trial lawyers who make the Doctor's insurance rates what they are.
That accounts for 0.5% of premiums, according to the GAO. The increases are tied to losses in the stock market (where they invest your money) and CEO pay.
The Dot.com bubble burst hit the insurance industry particularly hard, as a number of them went for speculative stock purchases.
__________________
Woe to him who builds his palace by unrighteousness,his upper rooms by injustice,making his countrymen work for nothing...Does it make you a king to have more and more cedar?Did not your father have food and drink?He did what was right and just,so all went well with him. He defended the cause of the poor and needy,and so all went well...But your eyes and your heart are set only on dishonest gain,on shedding innocent blood and on oppression and extortion. Jer 22:13, 15-17
