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[FLSTFI Dave]

Your points are valid.  Congress can vote themselves the Treasury proceeds, so they do.  Insane.

For the early retirees on SS it was a bonanza of sorts.  They paid little to nothing & collected for years.  Now a passbook savings account is not so far from SS when someone pays the max into it each year.  Add the SS payroll cost of employers to see how bad SS sucks as a "forced investment."   Also, SS cost to employers of SS is considered as income for those employees who many times have no clue that is actually part of their compensation that they never see due to the structure of federal law.

SS sucks in my opinion.  I am 45, and have been paying in for 29 years.  I have at least 17 more years to pay in.  That makes 46 years of paying in at least when I hopefully retire.  I doubt I will get anything out at the system will be broke.  I have all been paying in the max for 8 years now, and will pay max for the next 17 years.

Properly invested, I would have well over a million in investments if I could have all my SS dollars.

That coupled with my investments for the past 10 years, I could retire with a six figure income in my retirement years.

[iski]

SS sucks in my opinion.  I am 45, and have been paying in for 29 years.  I have at least 17 more years to pay in.  That makes 46 years of paying in at least when I hopefully retire.  I doubt I will get anything out at the system will be broke.  I have all been paying in the max for 8 years now, and will pay max for the next 17 years.

Properly invested, I would have well over a million in investments if I could have all my SS dollars.

That coupled with my investments for the past 10 years, I could retire with a six figure income in my retirement years.

SS was FDR's gift of pure socialism to the US & he accomplished this in a time when he had a lot of power & used it as he wished.  Closest we have ever had to a dictator & he ruled as one on social issues in several areas using convenient excuses.  Japanese internment camps - okey dokey by FDR standards. SS led to Medicaid & Medicare & Prescription Drug & other socialistic boondoggles and are used very effectively by the fed to keep the mooing class of citizens firmly attached to the government teat.

SS is a terrible investment for those paying in the max or close to it.  While it was never designed to be a complete retirement income program, many just rely on it like it is in spite of it's original design.  And politicians demagogue it quite effectively.  I am 53 & would have opted out (still would) at any time if given the option.  At some point, when those younger voters realize their incomes are being sucked into a fed vortex to pay for oldsters new golf cart batteries & the like, they will vote for reps who will reduce SS payments dramatically.  This will possibly be below even the amounts actually paid in by us, the unfortunate ones who will retire when it is nearly out of money  due to congressional accounting acrobatics.  And they will not care that we paid into it - our payements will be given to the "unfortunate poor" (crackheads, etc.) instead.

[hunter]

SS sucks in my opinion.  I am 45, and have been paying in for 29 years.  I have at least 17 more years to pay in.  That makes 46 years of paying in at least when I hopefully retire.  I doubt I will get anything out at the system will be broke.  I have all been paying in the max for 8 years now, and will pay max for the next 17 years.

Properly invested, I would have well over a million in investments if I could have all my SS dollars.

That coupled with my investments for the past 10 years, I could retire with a six figure income in my retirement years.

You should have opt out of SS when you started.  But if you opt out, you can't get back in (it soppose to be the down side but it's not).

[Sean M Cary]

You should have opt out of SS when you started.  But if you opt out, you can't get back in (it soppose to be the down side but it's not).

I never understood that you could Opt out of Social Security...how?

[hunter]

I never understood that you could Opt out of Social Security...how?

Yes you can.  When I was the treasurer for our church, our minister opt out of SS and instead invested the same amount in Mu. funds.
I'll find out and let you know.

[iski]

Does Punchie have SS benefits?

[Sean M Cary]

Does Punchie have SS benefits?

Free wipes for the Piccachu...past that no.

[grc]

I never understood that you could Opt out of Social Security...how?

I don't know the answer to that question, but I thought I would offer up this tidbit for thought.  I have an uncle who was a self employed dairy farmer.  He did not contribute a dime to Social Security for most of his life, but was then allowed to "join" in the last few years before he retired.  He has now been collecting SS benefits for roughly 30 years.

The fallacy is that this is an investment of some sort.  It is not, it is a direct transfer of assets from one group to a different group.  There is no guarantee that anyone will get the money they have "invested" in the system.  It is what it is, and anyone who relies on SS for their retirement is a fool.

Jerry

[iski]

Free wipes for the Piccachu...past that no.

Have you checked to see how many times he is registered to vote?  Punchie might be able to vote up to 5 times in my county........

[Sean M Cary]

Have you checked to see how many times he is registered to vote?  Punchie might be able to vote up to 5 times in my county........

I heard he was going to be on the starting lineup for the Cowboys - and was consequently registered to vote by ACORN.

[Midnight Rider]

SS was, is, and will be, a pay as you go system.  Nobody is "investing" in a GD thing.  You're paying for those currently retired, and your children will pay for you being retired.  There is no way in hell that the baby boomer generation (largest voting block) is going to allow SS to reduce promised benefits in their lifetime, particularly for those who will be truly dependent on the benefit.  Changes will happen, but there will be a "Grandfather" clause for those over a certain age.  Period.

All bets are off if the entire economy goes under.

[miker]

I want my money back!

[iski]

I heard he was going to be on the starting lineup for the Cowboys - and was consequently registered to vote by ACORN.

So he doesn't live in Vegas with Romo.  Too bad.  Voters here in 2000 & 2004 bragged they voted 4-5 times each at different precincts.  Know what the local elections (D) folks did? 

.............           Me either. 

Probably they gave them 5 more voter cards so they could vote 10 times in 08 maybe?

[SPIDERMAN]

     A fairly good friend of mine is to recieve $100,000 in a bequest from a elderly gentleman he knows with no family whom he (my friend) has looked after in a myriad of ways for the past 10 years. The bulk of the man's estate is to go to a wide variety of charities. My friend has seen the will and it simply says $100,000. It doesn't stipulate cash or whatever. The elderly man is 93 and in failing health, so my friend and I have discussed his options at the time of the gentleman's death. This person has a substantial investment portfolio which actually comprises the bulk of his estate. To pay my friend the $100,000 in cash, the executor will have to sell off some of the portfolio. I suggested to my friend that he take a small amount (say $25K) in cash and the reminder in stock from the portfolio as when he market rebounds he will end up with far more than the $100k bequest at no cost to the estate. My friend thinks I'm crazy and that he should take the $100k in cash. He also doesn't believe the executor can pay him in stocks. I say he can pay him in anything of value contained in the estate so long as my friend is in agreement with the executor.

Opinions please ?

B B

[Sean M Cary]

So he doesn't live in Vegas with Romo.  Too bad.  Voters here in 2000 & 2004 bragged they voted 4-5 times each at different precincts.  Know what the local elections (D) folks did? 

.............           Me either. 

Probably they gave them 5 more voter cards so they could vote 10 times in 08 maybe?

I am a Palm Beach County resident...voted the butterfly ballot.