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HelicopterOff Topics News & Politics › Republicans introduce Bill to massively cut Social Security
12-16-2016 12:45 AM  6 months agoPost 41
tommytt1

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Mercerville, NJ, USA

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You guys act like the stock market has a garunteed return. When the 401k and savings is lost in the next bubble, you'll be dead or 90 before you can be retire.....

The main reason we have to fix it is because of dilbert's fellow Texan's wars.

The only loon in the conversation is the guy that continually makes the same mistakes over and over and over and over again..........

I made a mistake once, but I was wrong?

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12-16-2016 01:32 AM  6 months agoPost 42
spaceman spiff

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Tucson

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A young man is buying every month, if the market hits a few bumps, he is buying at a discount, grumpy worn out old farts may only have a couple years left so they go to safety, like annuities....

I made a killing on the great recession. Not rocket science. Don't keep all your eggs in one basket. You probably heard those wise words when you were 5 years old. Worst place possible is to put it in the govt shoebox of IOUs for nearly 50 years. They can't even discuss a balanced budget any more. Kicking cans of worms down the road (dumping on the kids). Insanity.

You can't teach a crab to walk straight.

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12-16-2016 02:31 AM  6 months agoPost 43
tommytt1

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Mercerville, NJ, USA

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I'm a working stiff,not an investment banker and a huge part of the population is the same. Did you ever think most people aren't going to get the return you are?
I'll be fine, because in twelve years or less I'll be retired.......

I made a mistake once, but I was wrong?

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12-16-2016 02:46 AM  6 months agoPost 44
spaceman spiff

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Tucson

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Remember that average guy making 40k who is able to invest just half of his 206$ SS tax each month? ( My post on page 1 ). If he was able to invest the 206$ for the past 46 years he would be a millionare. Modest funds, nothing fancy. Even just doing the 100/month he kills it compared to SS alone.

There are a few reasons why the rich get richer, and the poor get poorer. Not investing at all, and Social Security are two of those reasons.

You can't teach a crab to walk straight.

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12-16-2016 02:48 PM  6 months agoPost 45
tommytt1

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Mercerville, NJ, USA

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And the next bubble takes all of it this time. Markets are leverages 10x worse and your savings and investment accounts are the sacrificial lamb. My father is 85 years old and he said he didn't think it would me there and it is. It was originally set up when people lived to 61 and things changed and the premiums needed to. Your investments aren't garunteed SS is......

I made a mistake once, but I was wrong?

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12-16-2016 03:02 PM  6 months agoPost 46
tommytt1

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Mercerville, NJ, USA

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The rich get richer and the poor get poorer, because the system is rigged. We have a law on the books citizens United (Republican Bill) that lets Corperations foreign or domestic donate any amount of money to any political candidate. Good to you ? And that was decided in the Supreme Court. Deciding vote was a Conservative Antonin Scalia and thank God he's DEAD.
The Financial Collapses and subsequent Bailouts are a direct result of Banking Deregulation. Easy for the banks harder on you and I. That was a Republican bill signed into law by Clinton.

I think you better put some eggs in the SS basket and lean on your congress and senators to expand it, because in the near future, it may be all you have.........

I made a mistake once, but I was wrong?

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12-16-2016 03:06 PM  6 months agoPost 47
tommytt1

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Mercerville, NJ, USA

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All of your math is completely irrevalent unless we could go back in time. That's not possible......

I made a mistake once, but I was wrong?

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12-16-2016 03:41 PM  6 months agoPost 48
spaceman spiff

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Tucson

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I had a plan many years ago for my trade account. it fell short. About 10% short. I should have spent the money on cheetos. Cheetos are awesome.

Every batch is exactly the same.

You can't teach a crab to walk straight.

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12-16-2016 04:52 PM  6 months agoPost 49
tommytt1

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Mercerville, NJ, USA

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I'll talk to you after the next financial collapse. I was talking to others on the site during the last one , but RR doesn't archive back that far. I was looking for what you had to say back then.

I made a mistake once, but I was wrong?

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12-16-2016 05:15 PM  6 months agoPost 50
Life_Nerd

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USA

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As long as the youngsters keep contributing to their 401K plan every paycheck there is a little safety. The fund managers will likely invest most of what is coming in rather than holding the cash. Fund managers keep buying at the buy price. Call it the 401k investment bubble if you will.

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12-16-2016 05:36 PM  6 months agoPost 51
spaceman spiff

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Tucson

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I was looking for what you had to say back then.
I was terrified. My favorite TV economic prognosticator said, something like "well folks, we are in for a big storm, so cash out 20% or what ever you are going to need for the next year...." I put some money back in the cash basket and waited. The tough part is figuring out when to get back in. Values going up and down wildly, when it dropped 30% ish i started to put some money back in, it of course dropped more, not fun. I could not see the future, but having been thru several resessions we all have a rough idea of how it goes. I put some more in closer to the bottom of the cycle... even moved the savings account over to the inestment account. That part i made double on, the rest that i left in the market bounced back and then some.

A lot of folks say it is best not to try to time the market. That may be true. This past year values seemed high, corporate earnings have been small and shrinking, i have more at risk than in previous years, so i decided to move back to the cash basket. If we go into another recession next year i am all set for it, if not i will be kicking myself for being too cautious.

Have a look at funds over at Fidelity. FCNTX is one i used for many years. The 10 year chart covers 2006 (good times) thru the great recession, on up to now. To win, all one actually needs to do is wait.

http://www.morningstar.com/funds/XNAS/FCNTX/quote.html

You can't teach a crab to walk straight.

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12-16-2016 06:08 PM  6 months agoPost 52
spaceman spiff

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Tucson

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I have a chalenge for you. Have a look at the DOW chart from 1900 to now. See if you can find any two points in time 20 years apart where the second point was not higher than the first.

You can't teach a crab to walk straight.

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12-16-2016 08:49 PM  6 months agoPost 53
tommytt1

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Mercerville, NJ, USA

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Always goes higher.

I made a mistake once, but I was wrong?

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HelicopterOff Topics News & Politics › Republicans introduce Bill to massively cut Social Security
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