Reply to 38 social security

Forum Index » Political Discussion

Reply to "38 social security"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]OP.  Ever hear of a Roth IRA?  Just curious....far more reliable and efficient than SS...and it actually GROWS!

I was literally yelling at the TV to Joe to STFU and stop "protecting" my social security, but then I remembered that I voted for Romney on Tuesday and then encouraged him to keep on it.

Between that and his and BO's definition of what a small business is, I honestly cringe for them sometimes.[/quote]

What is your basis for concluding that an IRA is more "reliable and efficient" that SS?!  SSA's administrative costs for the entire SS system are about .6%-- which is better than most mutual fund companies.  Also, an investment in the stock market is certainly not "more reliable" than SS-- unless you have suffered complete amnesia about what the market's done for the last 5 or 10 years.[/quote]

Just to be clear, we'll not hear from the left on how the stock market is at all time highs during these last three weeks correct?  Because that has become a staple talking point on how the market is just roaring these days, and to your thinking, the economy is supposedly booming.

I realize you can't speek for that particular movement, but just would like your opinion.  And my Roth and 401K have returned as have most that didn't cash out four years ago, so I guess I'm just a bit more risk tolerant. [/quote]

Personally, I think the level of the stock market has only a loose correlation to whether the fundamentals of the economy are strong, and there is likewise a loose correlation between any given president and whether the fundamentals of the economy are strong, so I certainly would never suggest that you should vote for or against a given candidate based on what the Dow is at.  Are you planning to vote for Romney because you believe his tax cuts will get us to 4% growth and pay for themselves?

Also, one reason why SS is more reliable is that the payment is guaranteed whether the market is in an up cycle or a down cycle.  Bully for you that your savings "have returned" but if you had been recently laid off/retired you might never get the chance to make that $ up.  One of the dirty secrets relying on 401(k) and other personal savings is that a disproportionately huge portion of the income is attributable to compound returns in the last decade of work, so if you happen to get stuck with a decade of poor returns you will be screwed.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics