Fixing(?) Entitlements

[Giantone]

Originally Posted by Chico23231

Look at it this way, I often hear folks complain when the market is doing well...that it is "only" working for a certain class of people (which isn't completely true, but whatever) so if you could educate and get folks to participate who in the past didn't, you could really open up a group of people to a new experience which could motivate them to invest elsewhere.

"IF" , if you could educate people about something as simple and as easy as voting we wouldn't be in the mess we're in now and you think you can educate these people about investing and the market ? Most of the people we're talking about don't trust the goverment or anyone that is connected with it and with Wall Streets history of screwing over Joe Blow you're not going to get the people to trust them.



To Big to Fail........https://en.wikipedia.org/wiki/Too_big_to_fail
Enron https://en.wikipedia.org/wiki/Enron
Savings and Loan crisis https://en.wikipedia.org/wiki/Savings_and_loan_crisis
Bernie Madoff .https://en.wikipedia.org/wiki/Bernie_Madoff
Real Estate bubble burst in 2006/08 https://en.wikipedia.org/wiki/United...housing_bubble

.................all reasons on why the average Joe Blow is weary of the investment world.

[MTK]

I think privatizing Social Security would be a bad idea. Too many people out there live paycheck to paycheck with little to no savings as it is so the thought of putting them in charge of their Social Security is a little scary to me.

Social Security isn’t meant to be your one and only source of income when you retire, but for many people it is. I think it’s important to keep it secure.


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[Schneed10]

Originally Posted by MTK

I think privatizing Social Security would be a bad idea. Too many people out there live paycheck to paycheck with little to no savings as it is so the thought of putting them in charge of their Social Security is a little scary to me.

Social Security isn’t meant to be your one and only source of income when you retire, but for many people it is. I think it’s important to keep it secure.


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You could give them an option to stick with the existing program or privatize it and move to investment vehicles of their choice.

This way, if somebody wants to keep it safe in T Bills, they can leave it where it is. Or, if the person takes no action at all, it stays where it is. Meanwhile the rest of us who actually understand how money works can be afforded the opportunity to grow our nest eggs.

I mean if we all paid into it, we should all have choices. Is it our money or not?

[Giantone]

Originally Posted by Schneed10

You could give them an option to stick with the existing program or privatize it and move to investment vehicles of their choice.

This way, if somebody wants to keep it safe in T Bills, they can leave it where it is. Or, if the person takes no action at all, it stays where it is. Meanwhile the rest of us who actually understand how money works can be afforded the opportunity to grow our nest eggs.

I mean if we all paid into it, we should all have choices. Is it our money or not?

If that was an option SS would fail . The more money into the fund the more it is suppose to make ...correct (basic,I know )? If people take the money that they think is theirs' and invest it poorly...what happens to those people when they are asking or dying for help? Let me ask you a question....do you have choice where your taxes go and what they pay for. I mean why should someone with no kids pay property taxes for a school system they do not use ?

[Chico23231]

Individual control > Government Control

[Giantone]

Originally Posted by Chico23231

Individual control > Government Control

...........and?

[Schneed10]

Originally Posted by Giantone

If that was an option SS would fail . The more money into the fund the more it is suppose to make ...correct (basic,I know )? If people take the money that they think is theirs' and invest it poorly...what happens to those people when they are asking or dying for help? Let me ask you a question....do you have choice where your taxes go and what they pay for. I mean why should someone with no kids pay property taxes for a school system they do not use ?

I see personal finance is not your strong suit. Obviously people would not be permitted to trade penny stocks - privatizing would treat it like your typical 401K where you have maybe 8 mutual fund options, all appropriately diversified. If you’re investing for more than 10 years, as most of us would be, you couldn’t lose money.

[Giantone]

Originally Posted by Schneed10

I see personal finance is not your strong suit. Obviously people would not be permitted to trade penny stocks - privatizing would treat it like your typical 401K where you have maybe 8 mutual fund options, all appropriately diversified. If you’re investing for more than 10 years, as most of us would be, you couldn’t lose money.

My personal suit is not in question here(and you're off by a mile) it is the average American who knows nothing of what your talking about that is what we're talking about here. Yes you know what's great for you and maybe it does seem simple for you but most of Americans don't have a clue to what you're talking about financially.


.....as for me ,The New York Curb Market / Exchange .

[CRedskinsRule]

Originally Posted by Schneed10

I see personal finance is not your strong suit. Obviously people would not be permitted to trade penny stocks - privatizing would treat it like your typical 401K where you have maybe 8 mutual fund options, all appropriately diversified. If you’re investing for more than 10 years, as most of us would be, you couldn’t lose money.

This may not be the right way to ask this question, but i will try anyway.

Couldn't social security be set up in a way that accounts for time horizons. So funds needed for immediate and short term obligqtions are put in a "lockbox account with minimal interest" while mid to long term bligations are invested against stock indexed accounts?



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[Schneed10]

Originally Posted by CRedskinsRule

This may not be the right way to ask this question, but i will try anyway.

Couldn't social security be set up in a way that accounts for time horizons. So funds needed for immediate and short term obligqtions are put in a "lockbox account with minimal interest" while mid to long term bligations are invested against stock indexed accounts?



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Yes, that's exactly what I was referencing when I mentioned target date funds. Every mutual fund firm has them. Pretty simple and low cost to manage.

[Schneed10]

Originally Posted by Giantone

My personal suit is not in question here(and you're off by a mile) it is the average American who knows nothing of what your talking about that is what we're talking about here. Yes you know what's great for you and maybe it does seem simple for you but most of Americans don't have a clue to what you're talking about financially.


.....as for me ,The New York Curb Market / Exchange .

This doesn't make any sense.

If someone doesn't respond, you leave their portion of the investment in the T Bills that they're essentially invested in now. If they do respond, you put it in the funds they want to be in.

So the people that have no idea what's going on stay in the exact same investments they're in now, while the rest of us do what we feel is right for us.

[sdskinsfan2001]

Originally Posted by Schneed10

This doesn't make any sense.

If someone doesn't respond, you leave their portion of the investment in the T Bills that they're essentially invested in now. If they do respond, you put it in the funds they want to be in.

So the people that have no idea what's going on stay in the exact same investments they're in now, while the rest of us do what we feel is right for us.

You hate America!!

[MTK]

Originally Posted by Schneed10

You could give them an option to stick with the existing program or privatize it and move to investment vehicles of their choice.

This way, if somebody wants to keep it safe in T Bills, they can leave it where it is. Or, if the person takes no action at all, it stays where it is. Meanwhile the rest of us who actually understand how money works can be afforded the opportunity to grow our nest eggs.

I mean if we all paid into it, we should all have choices. Is it our money or not?

The big question is how do you protect the trust fund in the event the market tanks?

[Schneed10]

Originally Posted by MTK

The big question is how do you protect the trust fund in the event the market tanks?

You don't. If I elect to put my portion in the stock market, my portion tanks. If you elected to keep yours safe and sound in bonds and money markets, yours doesn't tank.

Or, as added protection, you could put rules into it: if you're 57 or older then you must be in t bills, no equities allowed, something like that. To keep the masses from financially killing themselves in a bad market.

If you're younger than 57 and the market tanks, you have plenty of time to recover before you're 67.

[Giantone]

Originally Posted by Schneed10

This doesn't make any sense.

If someone doesn't respond, you leave their portion of the investment in the T Bills that they're essentially invested in now. If they do respond, you put it in the funds they want to be in.

So the people that have no idea what's going on stay in the exact same investments they're in now, while the rest of us do what we feel is right for us.

................and what I am saying is what if people don't know what it is you know and screw it up,don't say they can't ....you know better.