401ks

[dolphins4life]

Do you guys have them?

If you have one, I don't see how you can POSSIBLY support Joe Biden.

[CF DolFan]

Yes and no I do not. BTW .. we are having to subsidize our income off of our 401ks and are being penalized and taxed to do so at about 35%. It's ridiculous to me that it cost me so much money to use my money for emergencies that are created by our government. It would almost be better to go into foreclosure than to keep my head above water until things get better.

[pondwater]

until things get better.

That could be a very long time. We have a limited amount strategies to actually fix the problem. This administration is hopelessly inadequate.

[dolphins4life]

I was right.  Biden was going after everybody's hard earned money.

[CF DolFan]

That could be a very long time. We have a limited amount strategies to actually fix the problem. This administration is hopelessly inadequate.

That's my biggest fear right now. Spending our retirement to only end up in dire straights anyway. At least we have Social Security right?

[MyGodWearsAHoodie]

At least we have Social Security right?

Not if house republicans get their way

[pondwater]

That's my biggest fear right now. Spending our retirement to only end up in dire straights anyway. At least we have Social Security right?

CF, relying on SS is not a good plan for your future enjoyment of life.

Not if house republicans get their way

Actually, they should give people that haven't started drawing SS the option the cash out what they've paid in with interest. I would happily forgo SS payments for the rest of my life after retirement if they would cash out what I've paid in plus interest. I can make more on my own than a bankrupt government entity that lacks basic financial literacy.

Hell, I'm already retired at 50. Think of all the people like me that would take that offer. Then you add the fact that many people have collected far more in benefits than they paid in originally. A choice like that could actually make SS more sustainable over time with less people being forced to drain the system. 

[dolphins4life]

Not if house republicans get their way

Please explain this.

I'll save you some time.  THERE IS NO EXPLANATION!!

The libs on this board have tried to feed me lies about how I'm voting against my own interests by supporting the GOP.

It's all a boldfaced, outright, lie.

Everything I have ever said about this has been correct.  The Democratic party is all about taking money from the working class and mistreating them.

[CF DolFan]

CF, relying on SS is not a good plan for your future enjoyment of life.

Tongue was planted firmly in cheek. LOL Right now I'm more into selling a kidney or something so I can retire. 

[dolphins4life]

I'm into not having kids so I can retire someday, too

[pondwater]

Tongue was planted firmly in cheek. LOL Right now I'm more into selling a kidney or something so I can retire. 

It's not all it's cracked up to be. I thought it would be different, but it's not. I'm thinking that I'll eventually go up to Lowes and get a job mixing paint. Something with little to no responsibility, so that 6 months later when I get fed up, I can just say F it and just clock out leave. Never to return lmao.

I do notice that the months go by like weeks, weeks go by like days, days go by like hours, and hours go by like minutes. I know that's a byproduct of getting older. But being retired has accelerated it a good bit, lol

[dolphins4life]

It's not all it's cracked up to be. I thought it would be different, but it's not. I'm thinking that I'll eventually go up to Lowes and get a job mixing paint. Something with little to no responsibility, so that 6 months later when I get fed up, I can just say F it and just clock out leave. Never to return lmao.

I do notice that the months go by like weeks, weeks go by like days, days go by like hours, and hours go by like minutes. I know that's a byproduct of getting older. But being retired has accelerated it a good bit, lol

Watch the show Community.  Be like Pierce and go back to school for fun.

[Spider-Dan]

Actually, they should give people that haven't started drawing SS the option the cash out what they've paid in with interest.

This would only make sense if we simultaneously eliminated all safety net programs (which I imagine you're in favor of anyway).  Otherwise, lots of people would "withdraw" their SS accounts and then look to welfare & food stamps if/when they ran out of money.  

We've already tried a version of America where we don't have Social Security or Medicare.  Suffice it to say that in practice, it was less of rugged individualism and more of destitute elderly people starving on the streets.

A choice like that could actually make SS more sustainable over time with less people being forced to drain the system.

No one is "forced" to drain the system.  You have to voluntarily apply for SS benefits.

[pondwater]

This would only make sense if we simultaneously eliminated all safety net programs (which I imagine you're in favor of anyway).  Otherwise, lots of people would "withdraw" their SS accounts and then look to welfare & food stamps if/when they ran out of money.  

We've already tried a version of America where we don't have Social Security or Medicare.  Suffice it to say that in practice, it was less of rugged individualism and more of destitute elderly people starving on the streets.

That's called being an adult and being responsible for you own choices. Choices have consequences and bad choices have bad consequences. But then again the left doesn't believe in individual responsibility, so your comment was fully expected.

No one is "forced" to drain the system.  You have to voluntarily apply for SS benefits.

Yes, if you want YOUR money back, you are forced to drain it from the failing SS system. Which in turn puts more stress on the system. Which in turn will eventually make it insolvent. Then nobody gets anything.

[dolphins4life]

This would only make sense if we simultaneously eliminated all safety net programs (which I imagine you're in favor of anyway).  Otherwise, lots of people would "withdraw" their SS accounts and then look to welfare & food stamps if/when they ran out of money.  

We've already tried a version of America where we don't have Social Security or Medicare.  Suffice it to say that in practice, it was less of rugged individualism and more of destitute elderly people starving on the streets.
No one is "forced" to drain the system.  You have to voluntarily apply for SS benefits.

Do you have a 401k? 

Do you hope to retire?

How do you intend to do this when the Democrats continue to take your money and give it to people who are already effectively retired off the taxpayers?   

When the money runs out, who do you think they will go after to keep helping the people who don’t work?   That’s right, they will go after our 401ks. 

Then again, you don’t mind your hard earned money going to people who can work but choose not to.