Anonymous wrote:If the US goes down then the world goes down and your money will be worthless. Just relax people.

That's not how it works lol

Anonymous wrote:Here is the good news. As a people we like to take down others with us. So if the US was ever to go down economically, we will make sure that everyone else goes down with us. Why do you think we have some of the highest workplace violence when we loose our job? The rest of the world knows this. Either we prosper or no else does.

Is this a royal "we?"

No you are the fattened turkey being prepared. Those in control will make sure they leave the sinking ship.

Money in Qatar, anyone?

Anonymous wrote:

Anonymous wrote:10:15 poster again

Old person here.

Don't count on the government to support you when you are old. I know at least 4 seniors that have to work in their 70's. You don't want to be that person. Their social security monies are not enough to support them. I know one lady working as a legal secretary at age 79. She has to work to supplement social security.

Why save at all? Socialism is taking hold, your needs will be taken care of by the government.

That is not the trend the government is taking presently. No one will make sure you are not ripped off let alone take care of your needs.

Here is the good news. As a people we like to take down others with us. So if the US was ever to go down economically, we will make sure that everyone else goes down with us. Why do you think we have some of the highest workplace violence when we loose our job? The rest of the world knows this. Either we prosper or no else does.

Anonymous wrote:As some others have said, what is your next best option? Not saving at all is a bad idea. Are you going to buy land, gold, bitcoin, something else?

I have a younger co-worker who puts his money into Pokeman cards, I'm not kidding, this guy has two kids.

Anonymous wrote:10:15 poster again

Old person here.

Don't count on the government to support you when you are old. I know at least 4 seniors that have to work in their 70's. You don't want to be that person. Their social security monies are not enough to support them. I know one lady working as a legal secretary at age 79. She has to work to supplement social security.

Why save at all? Socialism is taking hold, your needs will be taken care of by the government.

As some others have said, what is your next best option? Not saving at all is a bad idea. Are you going to buy land, gold, bitcoin, something else?

10:15 poster again

Old person here.

Don't count on the government to support you when you are old. I know at least 4 seniors that have to work in their 70's. You don't want to be that person. Their social security monies are not enough to support them. I know one lady working as a legal secretary at age 79. She has to work to supplement social security.

Old person here. I worked a job for 8 years when I was in my 20's that had a 401k match.

I invested the max (went over the match.) I only had a 401k for that 8 year period of my working career as after that I worked in small business.

My gross W-2 earnings was very low during this 8 year period.

That 401k now has close to 600k in it due to earnings and compounding. Again, I only input the max during the 8 year period many decades ago.

I'm very glad I invested the max.

Invest for the long haul.

The 401k match is the reason people end up earning less than they otherwise would.
I have many back up plans. I've always thought years ahead. Not worried about myself at all.

Anonymous wrote:The recent events and political instability over the past year have really shaken my confidence in the US system. At this point, I’m not sure if it is a safe assumption that the US will continue to exist or be stable place to hold assets for the next 30-40+ years. As such, I am reconsidering maxing out my retirement accounts going forward and just doing the bare minimum required to get the entire amount of my employer match. Is anyone having similar concerns right now or are you somehow more optimistic that the US is still a reliable place to invest for the next 30+ years.

You should at least contribute enough to take full advantage of the employer match. After that, it's highly dependent on your personal financial situation.

Not to be a downer, but just think about how politics work in this country (or any "democracy" for that matter). Let's say you max out your retirement plans and scrimp and save and live frugally until retirement. Meanwhile, your spendthrift neighbor lives lavishly, doesn't save a penny for retirement.

What's going to happen?

I'll tell you what's going to happen -- when Social Security is underfunded as it inevitably will be, they will "means test" social security. They'll say "Hey look, you've got millions saved for retirement. You have enough in retirement assets that you can comfortably withdrawal $5K per month in retirement. No social security for you."

And they'll say to your neighbor "OK, since you have no assets and have contributed to social security all your life, social security will pay you $5K per month."

This is what's going to happen. It's inevitable. Most Americans haven't saved enough for retirement, and those Americans vote. So, there's a strong case to be made for not over-saving for retirement.

Anonymous wrote:

Anonymous wrote:You should be able to invest in something besides the S&P500 if you think the outlook is poor. I have much of my TSP in international for example.

This apprehension is not about the outlook for stocks and more about the potential confiscation of assets by the government or collapse/decline of US institutions.

Unless you’re planning on keeping cash under your mattress, in the worst case scenario you’ve envisioned ,they can confiscate your bank accounts too. Also your mattress

Anonymous wrote:If the US goes down then the world goes down and your money will be worthless. Just relax people.

This is no longer the case.

Countries who can, are working around the U.S. They can't afford to be as blasé as you. They want to protect themselves.


But yes, our money will be worthless

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You should be able to invest in something besides the S&P500 if you think the outlook is poor. I have much of my TSP in international for example.

This apprehension is not about the outlook for stocks and more about the potential confiscation of assets by the government or collapse/decline of US institutions.

That’s sensational and if it happens we’ll have even bigger problems, but if it makes you feel better, you could try to follow the lead of the preppers, like my MAGA dad who buys physical gold and updates his 2-year food and water supply every time a democrat takes the presidency. It helps him sleep better and maybe it would for you too.

I agree that mindset is sensational, but you might want to check out a 1 year chart of gold.

Anonymous wrote:

Anonymous wrote:You should be able to invest in something besides the S&P500 if you think the outlook is poor. I have much of my TSP in international for example.

This apprehension is not about the outlook for stocks and more about the potential confiscation of assets by the government or collapse/decline of US institutions.

NP, can you walk through the mechanism for that? I don't mean "how is it legal" I mean specifically what would be seized or lost. Your account individually? Your bank? The companies in which you invested?

I don't think you're crazy, but I think the specifics affect what you do instead of investing. For example if you are worried about the integrity of your personal accounts, then putting it into HYS doesn't make sense.