Yellow | Another way to fund pension

rkesty

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Instead of putting money in pension let the company put more money into social security, instead of getting 1500 a month you get 3000 a month the he'll with investment firms making money from fees they collect get from our money . At least if they mess up we lose government messes up we don't lose
 
Instead of putting money in pension let the company put more money into social security, instead of getting 1500 a month you get 3000 a month the he'll with investment firms making money from fees they collect get from our money . At least if they mess up we lose government messes up we don't lose

The most terrifying words in the English language...

"I'm from the Government and I'm here to help you"
 
We need to copy Australia's retirement system they invest money like social security into a 401k like account that you can't touch until retirement age plus a means tested government benefit.
 
Instead of putting money in pension let the company put more money into social security, instead of getting 1500 a month you get 3000 a month the he'll with investment firms making money from fees they collect get from our money . At least if they mess up we lose government messes up we don't lose
When you get another commi or socialist President the market will crash again there go the investment because they like to play ROBBINTHE HOOD
 
Instead of putting money in pension let the company put more money into social security, instead of getting 1500 a month you get 3000 a month the he'll with investment firms making money from fees they collect get from our money . At least if they mess up we lose government messes up we don't lose
Please tell me your not a Registered Voter.
 
We need to copy Australia's retirement system they invest money like social security into a 401k like account that you can't touch until retirement age plus a means tested government benefit.
I have an idea, Why not just save your own money the way you see fit? anyone who suggests more government as the answer has some serious deficiency's in the history of socialism. The entire notion of Retirement is flawed. its pretty simple, If you do not save for your own retirement you do not get to retire.
 
Please look at at the topic under pension discussion, Disolve and Disperse Now. I agree with FARTCHUCKER, "WHEN YOU LET SOMEONE HOLD YOUR CASH CHANCES ARE IT WONT BE THERE WHEN YOU GO BACK TO GET IT"
Pensions going broke, Social Security going broke, so let's dump more money into these bottomless pits. The Dems are talking about confiscating our 401k's to give to the leakers that choose not to work.
And half of the country thinks these are good ideas.
 
Please look at at the topic under pension discussion, Disolve and Disperse Now. I agree with FARTCHUCKER, "WHEN YOU LET SOMEONE HOLD YOUR CASH CHANCES ARE IT WONT BE THERE WHEN YOU GO BACK TO GET IT"
Pensions going broke, Social Security going broke, so let's dump more money into these bottomless pits. The Dems are talking about confiscating our 401k's to give to the leakers that choose not to work.
And half of the country thinks these are good ideas.
I agree with your assessment but the Notion that the Government can take your 401k is a myth. The only action the government can take involving private 401k accounts is to no longer decide to allow tax deferred status to them. in that case you are better off taking the hit on those taxes and moving your 401k money into a traditional IRA. but while those decisions are being made 401k is still a good avenue to use if you get a company match of some sort. if your company does not contribute anything to your 401k then a traditional IRA is a better option. if you meet the income restrictions for a Roth you should be doing the max into one in conjunction with 401k or tradional IRA.
 
We need to copy Australia's retirement system they invest money like social security into a 401k like account that you can't touch until retirement age plus a means tested government benefit.[/QUOTE


Australia also has close to zero immigration ..

Your union and your dues have been pushing for op n borders

Too many who have never worked in the USA are collecting Social Security
 
I agree with your assessment but the Notion that the Government can take your 401k is a myth. The only action the government can take involving private 401k accounts is to no longer decide to allow tax deferred status to them. in that case you are better off taking the hit on those taxes and moving your 401k money into a traditional IRA. but while those decisions are being made 401k is still a good avenue to use if you get a company match of some sort. if your company does not contribute anything to your 401k then a traditional IRA is a better option. if you meet the income restrictions for a Roth you should be doing the max into one in conjunction with 401k or tradional IRA.

I disagree with your statement that an IRA is better than a 401-K if there is no company match. 401-K and IRA don't have to be an either/or decision. You can participate in both at the same time. Depending on the investment options in the particular 401-K/IRA investments, there can be no difference in the financial gains of each. They are both excellent tax deferred retirement investment options.
 
I disagree with your statement that an IRA is better than a 401-K if there is no company match. 401-K and IRA don't have to be an either/or decision. You can participate in both at the same time. Depending on the investment options in the particular 401-K/IRA investments, there can be no difference in the financial gains of each. They are both excellent tax deferred retirement investment options.
all depends on your taxable income. The Traditional IRA offers a tax deductible avenue for contributions that the 401k does not. Both good options. 401k offers much higher annual contribution rates but lets face it the average person will only put 6% towards retirement . my point was that the government has no authority over any individual retirement accounts other than the ability to tax or revoke tax deferred status.
 
all depends on your taxable income. The Traditional IRA offers a tax deductible avenue for contributions that the 401k does not. Both good options. 401k offers much higher annual contribution rates but lets face it the average person will only put 6% towards retirement . my point was that the government has no authority over any individual retirement accounts other than the ability to tax or revoke tax deferred status.

I don't disagree with your point about government authority over your retirement accounts. What I disagree with was your contention that an IRA was better than a 401K. They are both worthwhile investments.

From Investopedia:
IRA: A traditional IRA is a tax-advantaged savings account for retirement. In most cases, you can deduct traditional IRA contributions from that year's tax return and postpone taxes until you withdraw that money in retirement. The IRA contribution limit for 2017 is $5,500 per year or $6,500 if you're age 50 or over.

401-K: By definition, a 401(k) plan is an arrangement that allows an employee to choose between taking compensation in cash or deferring a percentage of it to a 401(k) account under the plan. The amount deferred is usually not taxable to the employee until it is withdrawn or distributed from the plan.
For 2019, the maximum amount of compensation that an employee can defer to a 401(k) plan is $19,000 (up by $500 from 2018). Employees aged 50 by the end of the year and older can also make additional catch-up contributions of up to $6,000.

Most of the time a 401-K allows higher tax-deferred contributions than an IRA. Assuming similar investment options in each, it would seem that the higher amounts contributed to a 401-K (plus optional "free" employer contributions if offered) would provide much more retirement income at withdrawal time.
 
Instead of putting money in pension let the company put more money into social security, instead of getting 1500 a month you get 3000 a month the he'll with investment firms making money from fees they collect get from our money . At least if they mess up we lose government messes up we don't lose
The Government has robbed out of the Social security trust fund for other things,
As well as robbed from the Post office funds
Putting them in peril. .
 
Instead of putting money in pension let the company put more money into social security, instead of getting 1500 a month you get 3000 a month the he'll with investment firms making money from fees they collect get from our money . At least if they mess up we lose government messes up we don't lose

I reread it, and that's what it says!
 
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