how much of your social security check are you willing to give up...

...as a result of bad decisions made by the government and tax money squandered on unnecessary activities?

The stuff that comes on a shingle is hitting the fan in parts of Europe. Britain being one of the latest with riots over allowing tuition to be increased exorbitantly as a way of trying to deal with debt. Unrest in France is another example as a result of the increase in retirement age. The banking in Greece isn't doing all that great, to say the least.

Politicians in the U.S. are now bantering the idea of raising the retirement age to 69 and cutting entitlement programs as a way of dealing with the debt.

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whats a social security check?...this concept sounds interesting

 

Anybody younger than 50 who plans on the government to care for them in retirement is just plain stupid. Come to think of it, anybody of any age ...

 

I'm interested in what you are doing with your retirement

 

My husband and I put 10% of our income toward retirement every month. It should be 15% and that's what we aspire to.
15+% is what you and your employer contribute to the broken system. Think what you could have in retirement if you were allowed to invest it yourself.

 

I plan on dying in the next 20 anyway so I'd rather not pay into any retirement plan

 

To be fair what else is there to cut. European nations in general don't have a military budget as massive as the US's to begin cuts, and a lot of the country's already have high tax rates. In the US we can still raise taxes(lmao that will never happen) and still have them be decently low, but then what do you cut. There's the military, but then what. Even if you made the military budget $0, you'd still be left with $300-400 billion to cut.

 

im willing to give up all of it if they quit taking it out of my check. i can manage my money myself.

 

The social security people love peolple like you, a contibutor who will get no benefits.

Oops, I see you're from Canada. Nevermind!

 

who said I was contributing?


I do pay into the unemployment fund even though I cant collect it for being self employed...but the "other" benefits of self employment outweigh that anyways

 

Nah, most people can't, this is why social security exists to begin with. Tapping into your life savings seems really appealing and will probably happen during the 8 financial crisis that are bound to come up in your life. Most people arrive at retirement with a lot less money than they assumed they'd have when they were 25. Social security is the main reason we don't have every person in the country working until they fall over dead on their shift.

 

What he said

 

As it is now- Social Security is little more than a government sponsored ponzi scheme but what the Treasury Department is doing to the value of our currency will make SSI's impending insolvency look like petty larceny.

 

sounds like a personal problem for "most people"..

you worded that confusingly but i think you mean tapping into my life savings may seem appealing to me during my life. ok, what business does the gov't have holding my life savings.

retirement age is continually rising. also, social security pay-out exceeded pay-in this year.

 

So now what we have is the government tapping into people's retirement money in a foolish manner for its own financial crises instead of the individual.

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so what are you doing with your money? You can buy bonds that are making 5% but you get locked into 25 or 30 years so if things get better you lose. Gold, good luck most people lose money there. Land has been good but it takes a lot to get into and it's very hard to get a loan right now.
I could use a few pointers right now cuz I'm holding my breath and hoping

 

working is a great way to make money. if you want to make money working, then an education may be helpful. beyond that as far as growing/preserving your wealth or making money with the money you already have.. all i can say is DYODD - do your own due diligence. most people who are successful doing so have their own unique outlooks and strategies.

 

Ummm, if you have to borrow money to invest you're missing the point, but if you don't own a home, right now is a good time to buy - if you can qualify for a loan. It's a buyer's market for residential, but other real-estate is too risky for the average investor who can't afford to tie up money for the long term.

Make sure you have eough cash in a moneymarket fund to survive a crisis and then put everything else in a good diversified mutual fund, as much as you can inside a Roth IRA. Add to it every month. Stay away from gold - it's at an all time high and is bound to be the next bubble that that bursts.

 

I guess you're saying, come up with a catchy catch phrase write a book and sell it to someone like you

 

dyodd is an abbreviation commonly used on many forums and blogs etc having to do with investing