Thread: the rich the disabled and disney

Originally Posted by HeavyG

Sadly, yes... you are probably right. But I remain optimistic. I throw 10% into my 401k every paycheck and max out my IRA contributions each year, and take advantage of my company stock program as well as other investments. I am relying on all of that to take care of me when it is time to retire.

If you're depending on SS to make up a considerable portion of your retirement you'll be in for a sad surprise lol. Hell at my age ill be surprised if there even still is SS. If there is, the age to receive will probably be like 72. Of course none of this is factual. I even wonder about 401k and 401k managers. Someone remind me why theres an expense ratio around 1.00 to manage a market fund? I feel like your 401k gets robbed. Thankfully my current employer contributes 8% without me spending a dime.

Originally Posted by Hocus Pocus

If you're depending on SS to make up a considerable portion of your retirement you'll be in for a sad surprise lol. Hell at my age ill be surprised if there even still is SS. If there is, the age to receive will probably be like 72. Of course none of this is factual. I even wonder about 401k and 401k managers. Someone remind me why theres an expense ratio around 1.00 to manage a market fund? I feel like your 401k gets robbed. Thankfully my current employer contributes 8% without me spending a dime.

Back on topic, mt you fall victim to the media. People work hard to make the dollars they do. I think a lot of "rich" get up in arms because although they are high dollar earners , this does not mean you're rich. Having wealth means you're rich. Sadly in banking you see a lot of people make a lot of money but it all goes out the door. To me it seems like people get angry at the fact and when they look to see where it all went they see a FICA tax of $7k on a $100k salary and place blame. Never mind the fact they have a $30k mortgage payment a year and $10k in credit card debt, oh and three vehicles. Most of the people you're talking about mt aren't rich rather they are high dollar earners and have to be to sustain a lifestyle the media proclaims to be a lifestyle of the rich. I think true rich people are very frugal. They aren't worried about taxes because it makes up only a small portion of their true wealth. He'll, I'd be surprised if you saw rich people frequently attend Disney, I'm damn sure they wouldn't pay more to cut lines lol.

Shame on the media

Originally Posted by Hocus Pocus

If you're depending on SS to make up a considerable portion of your retirement you'll be in for a sad surprise lol.

They've been saying that for decades and it will never turn out that way. Imagine if the government had to write checks to everyone that contributed to SS because it failed to the point it got shut down. Never happen. They will do what they always do and rob peter to pay paul.

Originally Posted by deathgodusmc

They've been saying that for decades and it will never turn out that way. Imagine if the government had to write checks to everyone that contributed to SS because it failed to the point it got shut down. Never happen. They will do what they always do and rob peter to pay paul.

They can rob Peter all they want but there's only one Peter. It's a matter of ratios. People putting in vs. people taking out. It use to be 10 to 1 or something in the ball park. It's much much less these days and still falling.

Originally Posted by Hocus Pocus

They can rob Peter all they want but there's only one Peter. It's a matter of ratios. People putting in vs. people taking out. It use to be 10 to 1 or something in the ball park. It's much much less these days and still falling.

I agree which is why they will scale back on the hand outs before they have to cut everyone that actually paid into it checks.