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post #1 of 25 (permalink) Old 10-29-2014, 03:40 PM Thread Starter
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I work for a company that has a pension program (one of few left) AND a managed 401K retirement service as a volunteer contributor.

I knew this was the company that I wanted to stay with and one day retire from. After 25 years of being vested in and contributing to the 401K plan, I've learned a thing or 10 about 'managed' funding.

I hate it! It boils down to being ripped off by the so-called 'managers' with their service fees. Doesn't matter if you watch it or not... and always best not to! Doesn't really matter how you choose to invest either.

I usually kept it lightly diversified (3 ways) but I hit the ceiling last night and split the sucker 11 ways.

We have options to invest and the company would match up to 4%... basicly free money. This is and was a no-brainer! I aint that smart but a good deal in my book.

I actually wish that years ago some smarter folks would have allowed Average American folk like me to take the federally taxed money that goes toward S.S. and medicaid/medicare along with A 401K plan and invest it.

No promises that this S.S. $$ will be around when I retire because it is being treated like a pyramid scheme by unc Sam. And we are already being warned... may run out. Talk about a screwed up machine.

Now I do know that a bunch of Americans are living beyond their means and not thinking that far ahead. And even a lot more of them are very sure they can continue to hold out their hands for a HAND OUT and run down to the local market to get cigs and beer with their never ending EBT cards that some trade for cash to get drugs.

Back to me I want to get old and not be a stinking wally mart greeter. I want to drink coffee with my buds, ride my bike, take a nap, ride my bike, eat, sleep, and do it all again every day until mommy lays me in the ground... Oh! I would like some grandbabies too!

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post #2 of 25 (permalink) Old 10-29-2014, 03:55 PM
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Are you telling me I have been paying in to S.S. my whole pathetic life and I may be told to go screw when the time comes because of government mismanagement of funds ?!!! There will be a revolution if the Gov tells people that have been paying in their whole life , ooops , sorry . That Shit aint gonna fly with hard working Americans .... Lock and Load .

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post #3 of 25 (permalink) Old 10-29-2014, 04:35 PM
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Mags I hate to break it too you... Dill is correct. That has been something that has been discussed since the mid 2000's. I am looking for the article I read on it recently to collaborate my statement... People in the late 20's and early 30's right now will likely be the generation that won't see any SS from the gov. Mags being as your way older than that you should be fine.
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post #4 of 25 (permalink) Old 10-29-2014, 04:52 PM Thread Starter
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Social Security Benefits: Will They Be There When You Retire ...
www.nolo.com/.../social-security-benefits...



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One more timeSearch Results
Current predictions indicate that the Social Security trust fund will run out in 2037 if nothing is done. After this point, retirees can generally expect about 75 cents on every dollar of their scheduled benefits. Thats because once the trust fund is depleted, there will be no surplus left.
Social Security Benefits: Will They Be There When You Retire ...
www.nolo.com/.../social-security-benefits...
Feedback
Social Security Cannot Go Bankrupt - Forbes
www.forbes.com/.../social-security-canno...
Aug 14, 2014 - If it runs out tomorrow, we can still have Social Security because we still have ten fish. Incidentally ...
Will Social Security run out of money? - CBS News
www.cbsnews.com/.../will-social-security...
Nov 4, 2013 - While that certainly isn't good news, it doesn't mean that Social Security will totally run out of money ...
Trustees Report Summary - Social Security
www.ssa.gov/oact/trsum/
Neither Medicare nor Social Security can sustain projected long-run program costs in full under ...... that it was important that Social Security's impact on the budget be laid out in a transparent fashion.
Social Security Benefits: Will They Be There When You Retire ...
www.nolo.com ... Social Security
Current predictions indicate that the Social Security trust fund will run out in 2037 if nothing is done. After this point, retirees can generally expect about 75 cents on every dollar of their scheduled benefits. Thats because once the trust fund is depleted, there will be no surplus left.
In the news

What Happens to Your Social Security Number When You Die
Gizmodo‎ - 11 hours ago
5 Social Security Facts You Need to Know
U.S. News & World Report‎ - 1 day ago
How you would fix Social Security: Raise the retirement age
Washington Post‎ - 1 day ago
More news for when will Social Security run out
Medicare Social Security - Wall Street Journal
m.wsj.com/.../medicare-social-security-he...
Jul 28, 2014 - They project Medicare will be able to continue paying full hospital benefits for its elderly or disabled clients ... Without the change, Social Security retiree reserves would run out in 2034.
Social Security Running Out Of Money, Should The Senior ...
www.inquisitr.com/.../social-security-run...
Sep 4, 2014 - With some estimates having Social Security running out of money within 20 years , ... Budget Office, the Social Security retirement trust fund will be exhausted in less than 20 years.
Will Social Security be there for you? - MarketWatch
www.marketwatch.com/.../will-social-sec...
Jul 9, 2013 - ... by the Social Security actuaries that the Social Security Retirement Trust Fund will run out of money ...
Social Security Disability Insurance Trust Fund Will Be Exhausted
www.heritage.org/.../social-security-disab...
Aug 1, 2014 - As a result, the Social Security Trust Fund would run out of money sooner, and more retirees would be ...
Will Social Security Really Run Out of Money? - The Motley Fool
www.fool.com/.../will-social-security-real...
Feb 23, 2014 - With millions of Americans counting on Social Security to be there when they retire, news that the ...
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post #5 of 25 (permalink) Old 10-29-2014, 05:46 PM
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Enjoy today.....no guarantees in this life.
One Day at a Time.
All I have is Today well lived.
Go for a ride.

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post #6 of 25 (permalink) Old 10-30-2014, 07:14 AM Thread Starter
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Enjoy today.....no guarantees in this life.

One Day at a Time.

All I have is Today well lived.

Go for a ride.

There are 2 .Death and taxes.

Today you may not survive but unk Sam will get paid.

Do not count on SS as a retirement plan. If you are not putting $$ away now, you will never retire... Unless you inherit a lot of $$.


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post #7 of 25 (permalink) Old 10-30-2014, 07:39 AM
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I WILL NEVER RETIRE .... Oh well . Travis , you are a funny my friend .

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post #8 of 25 (permalink) Old 10-30-2014, 07:41 AM
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Quote:
Originally Posted by Motorbikerx View Post
Enjoy today.....no guarantees in this life.
One Day at a Time.
All I have is Today well lived.
Go for a ride.
TRUE DAT !

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post #9 of 25 (permalink) Old 10-30-2014, 08:28 AM
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I'm putting $500 a month into an investment account because I don't want to have to depend on SS that might not be there. I started doing that 7 years ago when I changed jobs. You can't depend on the government.


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post #10 of 25 (permalink) Old 10-30-2014, 08:39 AM
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That's good thinking Theja1... I am going to get my house paid off in the next couple years then I will be all good. I am 35 and would like to retire at 55 so better get on it! I have some investments as well... Right now they aren't worth shit though!
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