[quote]countingbeans wrote:
Not that you shouldn’t be doing this, but all this is the reason the economy sucks (in some respects) right now. Everyone (including big and small businesses) are cleaning up their balance sheets after the mess from 2008+.
Now that I’m done making Krugman’s “lets print money” argument for him, I’m going to go slap myself for even beginning to side with that bastard. [/quote]
Yep, the economy loves people to get into debt and buy buy buy. When people retract so does the economy. I think our lives have been lived in a fat cat “want it” now way the last 20-30 years. Many of the smarter citizens and businesses are building the reserve surplus and not spending exactly because of the economy and our national debt. When the bottom falls out again, they won’t be caught compromised.
In many ways I feel like I need a little of the “Great Depression” mentality. Fuck spending 200 bucks a month on Starbucks when I can grind my own for 20 bucks a month. I use about 60% less energy than I used to total and right now I use 25% less energy than the most efficient homes in my area according to the PG&E chart they send me. Summer months I cook in my house but save about 300 a month doing so. I never used to have a surplus, but now I need about 30-40K in liquid CASH on hand in order to feel protected against future economic issues should and WHEN they arise…and they will.
[quote]coolnatedawg wrote:
[quote]usmccds423 wrote:
[quote]countingbeans wrote:
Not that you shouldn’t be doing this, but all this is the reason the economy sucks (in some respects) right now. [/quote]
True. I’m more concerned about the inevitable post social security era than our current economic climate. This will probably make me sound like a dick, but I stayed employed through the recession (have actually taken several steps upward) and I don’t foresee that changing based on my current and expanding skill set. [/quote]
/ignorance
I haven’t ever read or really researched the social security timebomb that people claim but are people really saying that all the SS money I am paying out per paycheck aren’t going to be available to me when it comes time for me to utilize it? Who’s fucking pocket did I line then?!
/ignorance[/quote]
Everyone’s.
Look SS is a Ponzi scheme. Which means that people working now are paying for the people retired now. SS’s solvency requires:
- An ever expanding workforce
- no inflation, or at the very least, not the shit we’ve had over the last 60 years.
- People NOT to live another 30 years after retirement
It doesn’t help that SS payments are kept in the General Fund. (Note the deficits and trillion dollar debt.)
So the issue is, while you may have worked and paid in for 50 years, due to inflation you’ll get back more than you put in if you live for long enough. My grandfather now, gets the equivalent of what is paid in on something like 200k of income a year… He never made that much lol. I did the math last year sometime and can’t find it to give you precise numbers.
Now, do I think SS is ever going anywhere? Nope. They’ll patch it up, and kick the can down the road as long as we have a functioning government.
[quote]coolnatedawg wrote:
[quote]usmccds423 wrote:
[quote]countingbeans wrote:
Not that you shouldn’t be doing this, but all this is the reason the economy sucks (in some respects) right now. [/quote]
True. I’m more concerned about the inevitable post social security era than our current economic climate. This will probably make me sound like a dick, but I stayed employed through the recession (have actually taken several steps upward) and I don’t foresee that changing based on my current and expanding skill set. [/quote]
/ignorance
I haven’t ever read or really researched the social security timebomb that people claim but are people really saying that all the SS money I am paying out per paycheck aren’t going to be available to me when it comes time for me to utilize it? Who’s fucking pocket did I line then?!
/ignorance[/quote]
Well, there are several schools of thought. I’m not going to act like I know them all or that I am right.
My gut tells me there are only two possible outcomes. The first is social security implodes (not good) and we go through another recession or depression. Maybe I’m protected by throwing money into my 401(k) and roth. Maybe not. The second is taxes go through the roof to continue to fund social security until either a revolt occurs or I die and social security implodes (again not good).
Of course we can’t ignore the giant elephant in the room: Medicare/Medicaid. They could certainly implode first…
[quote]usmccds423 wrote:
10%-12% seems a bit high. [/quote]
It’s about right with the right mix of investing. Some years you will get 5%, others 18, depending.
Use this mutual fund profile mix at about 25% each:
Growth
Growth & Income
Aggressive Growth
International
This is what Dave Ramsey recommends.
[quote]usmccds423 wrote:
[quote]coolnatedawg wrote:
[quote]usmccds423 wrote:
[quote]countingbeans wrote:
Not that you shouldn’t be doing this, but all this is the reason the economy sucks (in some respects) right now. [/quote]
True. I’m more concerned about the inevitable post social security era than our current economic climate. This will probably make me sound like a dick, but I stayed employed through the recession (have actually taken several steps upward) and I don’t foresee that changing based on my current and expanding skill set. [/quote]
/ignorance
I haven’t ever read or really researched the social security timebomb that people claim but are people really saying that all the SS money I am paying out per paycheck aren’t going to be available to me when it comes time for me to utilize it? Who’s fucking pocket did I line then?!
/ignorance[/quote]
Well, there are several schools of thought. I’m not going to act like I know them all or that I am right.
My gut tells me there are only two possible outcomes. The first is social security implodes (not good) and we go through another recession or depression. Maybe I’m protected by throwing money into my 401(k) and roth. Maybe not. The second is taxes go through the roof to continue to fund social security until either a revolt occurs or I die and social security implodes (again not good).
Of course we can’t ignore the giant elephant in the room: Medicare/Medicaid. They could certainly implode first… [/quote]
If the doubled the contribution limit until the babyboomers died it would kick the can at least a generation.
[quote]countingbeans wrote:
[/quote]
Just saw you go over 20K posts!
[quote]Rockscar wrote:
[quote]countingbeans wrote:
[/quote]
Just saw you go over 20K posts![/quote]
Jesus… I need a life 
Talking about SS no less, lol.
[quote]countingbeans wrote:
[quote]Rockscar wrote:
[quote]countingbeans wrote:
[/quote]
Just saw you go over 20K posts![/quote]
Jesus… I need a life
Talking about SS no less, lol. [/quote]
At least you are not this guy. For what I gather he just graduated College and has student loans.
[quote]Rockscar wrote:
[quote]countingbeans wrote:
[quote]Rockscar wrote:
[quote]countingbeans wrote:
[/quote]
Just saw you go over 20K posts![/quote]
Jesus… I need a life
Talking about SS no less, lol. [/quote]
At least you are not this guy. For what I gather he just graduated College and has student loans.
[/quote]
wow…
Just wow
I’m laughing, and feel for the dad. But at the same time, my boy is only 16, and I know where he is at night. I mean, I’d rather he be home banging away on COD than out stealing cars and selling drugs, lol.
I just, I don’t know if that is the best approach.
[quote]Rockscar wrote:
[quote]countingbeans wrote:
[quote]Rockscar wrote:
[quote]countingbeans wrote:
[/quote]
Just saw you go over 20K posts![/quote]
Jesus… I need a life
Talking about SS no less, lol. [/quote]
At least you are not this guy. For what I gather he just graduated College and has student loans.
[/quote]
Christ, is that real?
[quote]LankyMofo wrote:
[quote]Rockscar wrote:
[quote]countingbeans wrote:
[quote]Rockscar wrote:
[quote]countingbeans wrote:
[/quote]
Just saw you go over 20K posts![/quote]
Jesus… I need a life
Talking about SS no less, lol. [/quote]
At least you are not this guy. For what I gather he just graduated College and has student loans.
[/quote]
Christ, is that real?
[/quote]
I hope not
