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Jan. 24th, 2005 | 08:26 am
please answer for your age group only
if you are 25 or younger, do you think putting some of your money in a private account is a good idea?
yes
7(70.0%)
no
3(30.0%)
if you are 25-30
yes
6(40.0%)
no
9(60.0%)
30-35
yes
6(54.5%)
no
5(45.5%)
35-40
yes
6(60.0%)
no
4(40.0%)
40-45
yes
5(55.6%)
no
4(44.4%)
45-50
yes
3(50.0%)
no
3(50.0%)
over 50
yes
3(60.0%)
no
2(40.0%)
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from:
i
date: Jan. 24th, 2005 03:33 pm (UTC)
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from:
occipitaldruid
date: Jan. 24th, 2005 03:34 pm (UTC)
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from:
i
date: Jan. 24th, 2005 03:36 pm (UTC)
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imagine investing all of your life and then, a couple of years after retirement, it is the year 2001 and everything is gone, not just for you, but for millions of other retirees.
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from:
seamusd
date: Jan. 24th, 2005 03:35 pm (UTC)
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from:
i
date: Jan. 24th, 2005 03:37 pm (UTC)
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from:
dancinglights
date: Jan. 24th, 2005 03:55 pm (UTC)
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from:
i
date: Jan. 24th, 2005 04:11 pm (UTC)
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from:
incendiarymind
date: Jan. 24th, 2005 03:56 pm (UTC)
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from:
i
date: Jan. 24th, 2005 04:12 pm (UTC)
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from:
snowblind
date: Jan. 24th, 2005 04:30 pm (UTC)
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I'm not sure SS was intended to fully cover ones expenses after retirement, but only to supplement it. Private accounts in the stock market haven't dropped to zero, maybe 50% of formal value, still a loss. But as they say, you only lose if you sell.
Being a former public employee in California, in addition to SS, I was required to pay 7% (matched by the employer) of my salary into the CALPERS fund. The CALPERS board uses the deposits to invest for future retirees. I'm fortunate that now being retired, it pays two-thirds of my former salary with annual cost-of-living adjustments. I receive all sorts of job fliers from California utilities having starting positions that pay several hundred dollars more than I now receive from CALPERS. Me go back to work for a couple of hundred dollars a month? I don't think so.
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from:
i
date: Jan. 24th, 2005 04:43 pm (UTC)
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"you only lose if you sell"
if you are retired and living off your investments, paying for food, housing, and medicine, you have no choice but to sell.
investments outside of social security are a good thing and should be encouraged. 401ks and iras are a good start. taking money from social security is another matter. it is an extension of the rape of the surpluses, designed only to enrich the big players in the stock market.
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from:
gurdonark
date: Jan. 24th, 2005 04:47 pm (UTC)
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But I like the approach you're taking, and the implied point you're making.
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from:
i
date: Jan. 24th, 2005 06:14 pm (UTC)
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from:
tiwonge
date: Jan. 24th, 2005 05:03 pm (UTC)
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Even with Social Security, it's good to have money in a private account.
Unless you meant that all money should be withdrawn from Social Security and put into a private account. If that's what you meant, it wasn't clear from the question.
I mean, what else am I goign to do with my money? Hide it under my mattress?
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from:
i
date: Jan. 24th, 2005 06:17 pm (UTC)
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from:
ldy
date: Jan. 24th, 2005 05:28 pm (UTC)
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Investing, while inherently risky, is good. Investing/risking insurance money maybe not-so-good (in my humble opinion).
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from:
i
date: Jan. 24th, 2005 06:19 pm (UTC)
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from:
flashfire
date: Jan. 24th, 2005 07:00 pm (UTC)
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But, I think all this talk about SSN being empty is BS.
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from:
serendipity
date: Jan. 24th, 2005 07:01 pm (UTC)
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It's important to diversify your savings if possible. Don't tie everything up in one place, mix it up a little.
Personally, I don't like the stock market, although my father and older brother play the game. CDs might be more conservative, but in a huge crash CD-owners don't lose like stock-owners do.
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from:
i
date: Jan. 24th, 2005 07:03 pm (UTC)
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from:
low_delta
date: Jan. 24th, 2005 07:03 pm (UTC)
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As for my answer, it depends on how much money I expect to have for my retirement. If I think I'm going to be barely scraping by, then I would not put money into the private/investment/risk/gambling part. Come to think of it, if I expect to have more than enough money to retire on, I would probably leave my money out of the investment option, just in case.
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from:
i
date: Jan. 24th, 2005 07:06 pm (UTC)
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from:
i
date: Jan. 24th, 2005 07:25 pm (UTC)
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from:
kuangning
date: Jan. 24th, 2005 08:22 pm (UTC)
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from:
i
date: Jan. 24th, 2005 08:52 pm (UTC)
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P(r)i[r](v)ate Accounts
from:
wetbaloney
date: Jan. 25th, 2005 04:53 pm (UTC)
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