Comments on: How’s that cockamamie idea of privatizing Social Security going over these days? Not well, I bet http://blogs.e-rockford.com/applesauce/2008/09/18/hows-that-cockamamie-idea-of-privatizing-social-security-going-over-these-days-not-well-i-bet/ Pat Cunningham offers an unabashedly liberal perspective on national politics. A note of caution: The language gets a litttle salty on some of the sites to which this blog links. So, don't say you weren't warned. By the way, this blog's name is inspired by the Will Rogers quote, "All politics is applesauce." Fri, 12 Mar 2010 20:23:02 +0000 http://wordpress.org/?v=wordpress-mu-1.2.4 By: snuss http://blogs.e-rockford.com/applesauce/2008/09/18/hows-that-cockamamie-idea-of-privatizing-social-security-going-over-these-days-not-well-i-bet/#comment-6745 snuss Fri, 19 Sep 2008 19:48:16 +0000 http://blogs.e-rockford.com/applesauce/2008/09/18/hows-that-cockamamie-idea-of-privatizing-social-security-going-over-these-days-not-well-i-bet/#comment-6745 BTW, the point was that you shouldn't be relying ONLY on Social Security for retirement income. BTW, the point was that you shouldn’t be relying ONLY on Social Security for retirement income.

]]> By: snuss http://blogs.e-rockford.com/applesauce/2008/09/18/hows-that-cockamamie-idea-of-privatizing-social-security-going-over-these-days-not-well-i-bet/#comment-6744 snuss Fri, 19 Sep 2008 19:45:24 +0000 http://blogs.e-rockford.com/applesauce/2008/09/18/hows-that-cockamamie-idea-of-privatizing-social-security-going-over-these-days-not-well-i-bet/#comment-6744 Anybody notice THIS? Investors jumped back into the stock market Thursday afternoon after the world's central banks embarked on a coordinated effort to ease the fear coursing through the global financial system, sending the Dow industrials up more than 400 points. Anybody notice THIS?

Investors jumped back into the stock market Thursday afternoon after the world’s central banks embarked on a coordinated effort to ease the fear coursing through the global financial system, sending the Dow industrials up more than 400 points.

]]> By: swamprat http://blogs.e-rockford.com/applesauce/2008/09/18/hows-that-cockamamie-idea-of-privatizing-social-security-going-over-these-days-not-well-i-bet/#comment-6730 swamprat Fri, 19 Sep 2008 15:25:12 +0000 http://blogs.e-rockford.com/applesauce/2008/09/18/hows-that-cockamamie-idea-of-privatizing-social-security-going-over-these-days-not-well-i-bet/#comment-6730 Snuss. So what is your point? That wasn't the question. If you want to argue about socialism, let's argue about Paulson's socialism program for the pigmen. Snuss. So what is your point? That wasn’t the question. If you want to argue about socialism, let’s argue about Paulson’s socialism program for the pigmen.

]]> By: swamprat http://blogs.e-rockford.com/applesauce/2008/09/18/hows-that-cockamamie-idea-of-privatizing-social-security-going-over-these-days-not-well-i-bet/#comment-6728 swamprat Fri, 19 Sep 2008 15:18:24 +0000 http://blogs.e-rockford.com/applesauce/2008/09/18/hows-that-cockamamie-idea-of-privatizing-social-security-going-over-these-days-not-well-i-bet/#comment-6728 Billybeer. I forgot. You Republicans make more than the rest of us. Your return may not be as good as mine, but it's not bad. 9% is OK. And I stand by my figures. Yes, I have included the employers contribution. In fact I paid it myself. As to the banks safety. You do not have access to their balance sheets. Most are carrying the bad debts on off balance sheets. Do you remember Enron? They will blow up before you know it happened. And yes I did check. There are more than a few banks in Rockford that could go boom. You may have other savings but most people don't. The savings rate is minus 2%. If they can't manage their money to save how are they going to manage their SS in the markets? This idea to privatize SS was put forth by the pigmen through our sock puppet leader so they could steal more of the taxpayers money. Billybeer. I forgot. You Republicans make more than the rest of us. Your return may not be as good as mine, but it’s not bad. 9% is OK. And I stand by my figures. Yes, I have included the employers contribution. In fact I paid it myself.
As to the banks safety. You do not have access to their balance sheets. Most are carrying the bad debts on off balance sheets. Do you remember Enron? They will blow up before you know it happened. And yes I did check. There are more than a few banks in Rockford that could go boom.
You may have other savings but most people don’t. The savings rate is minus 2%. If they can’t manage their money to save how are they going to manage their SS in the markets?
This idea to privatize SS was put forth by the pigmen through our sock puppet leader so they could steal more of the taxpayers money.

]]> By: SNuss http://blogs.e-rockford.com/applesauce/2008/09/18/hows-that-cockamamie-idea-of-privatizing-social-security-going-over-these-days-not-well-i-bet/#comment-6721 SNuss Fri, 19 Sep 2008 12:13:33 +0000 http://blogs.e-rockford.com/applesauce/2008/09/18/hows-that-cockamamie-idea-of-privatizing-social-security-going-over-these-days-not-well-i-bet/#comment-6721 One thing that too many Liberals forget, is that Social Security was intended as a SUPPLEMENT to your own retirement income, not part of a cradle-to-grave Socialist total care package. One thing that too many Liberals forget, is that Social Security was intended as a SUPPLEMENT to your own retirement income, not part of a cradle-to-grave Socialist total care package.

]]> By: Billybeermonicagar http://blogs.e-rockford.com/applesauce/2008/09/18/hows-that-cockamamie-idea-of-privatizing-social-security-going-over-these-days-not-well-i-bet/#comment-6715 Billybeermonicagar Fri, 19 Sep 2008 04:07:58 +0000 http://blogs.e-rockford.com/applesauce/2008/09/18/hows-that-cockamamie-idea-of-privatizing-social-security-going-over-these-days-not-well-i-bet/#comment-6715 Swamp. Don't think an exchange traded fund is where I would be, but is an interesting option. I did a few calculations on my own SS. If my income and the amount contributed to SS do not change(which I assume they will)by my 67th birthday my total contribution will be about $320,000. If I live 20 years past that, I will collect $571,440. That is far less than the 3 times paid in amount you will get. I think you may not have included what your employers contribution is. This is a very important part of the equation. Your comment of most banks being in trouble is a stretch also. In contrast, most banks are doing quite well. I know that our local giant is hurting at this moment, but look beyond them and our other local banks are fine. By the way, my SS is not close to being my life savings, as I am sure it is not yours either Swamp. Don’t think an exchange traded fund is where I would be, but is an interesting option.
I did a few calculations on my own SS. If my income and the amount contributed to SS do not change(which I assume they will)by my 67th birthday my total contribution will be about $320,000. If I live 20 years past that, I will collect $571,440. That is far less than the 3 times paid in amount you will get. I think you may not have included what your employers contribution is. This is a very important part of the equation. Your comment of most banks being in trouble is a stretch also. In contrast, most banks are doing quite well. I know that our local giant is hurting at this moment, but look beyond them and our other local banks are fine.
By the way, my SS is not close to being my life savings, as I am sure it is not yours either

]]> By: swamprat http://blogs.e-rockford.com/applesauce/2008/09/18/hows-that-cockamamie-idea-of-privatizing-social-security-going-over-these-days-not-well-i-bet/#comment-6704 swamprat Thu, 18 Sep 2008 20:40:09 +0000 http://blogs.e-rockford.com/applesauce/2008/09/18/hows-that-cockamamie-idea-of-privatizing-social-security-going-over-these-days-not-well-i-bet/#comment-6704 Billybeer. Missed your reply before. So, would you put all of your retirement into an ETF of dividend paying stocks or individual stocks doing thusly? Vanguard's ETF of dividend paying stocks is down 13% this year. If individual stocks? Are you prepared to study to determine which stocks are paying dividends and can be trusted to continue in the future? Do you believe the "decider" can turn this market around? Remember. It's your life savings. Billybeer. Missed your reply before. So, would you put all of your retirement into an ETF of dividend paying stocks or individual stocks doing thusly? Vanguard’s ETF of dividend paying stocks is down 13% this year. If individual stocks? Are you prepared to study to determine which stocks are paying dividends and can be trusted to continue in the future? Do you believe the “decider” can turn this market around? Remember. It’s your life savings.

]]> By: swamprat http://blogs.e-rockford.com/applesauce/2008/09/18/hows-that-cockamamie-idea-of-privatizing-social-security-going-over-these-days-not-well-i-bet/#comment-6701 swamprat Thu, 18 Sep 2008 19:50:38 +0000 http://blogs.e-rockford.com/applesauce/2008/09/18/hows-that-cockamamie-idea-of-privatizing-social-security-going-over-these-days-not-well-i-bet/#comment-6701 Mike. Actually I will receive 15% per year of the amount I paid into SS. If I live 20 years I will receive 3 times what I paid in. Stock funds average 8-10% return, but they are now down 15% to 35%. In 1929 they lost 89% and took 25 years to get back to where they were. Bond funds are fine unless we have a bond accident. Your principle will go down like the stock market. Cash is fine if your bank remains solvent. Most are in trouble and FDIC is almost broke. Most people are withdrawing their 401's and IRA's to pay bills now. I suppose they will want a bailout someday. Some people would take the time to learn to invest. Most would not. Mike. Actually I will receive 15% per year of the amount I paid into SS. If I live 20 years I will receive 3 times what I paid in. Stock funds average 8-10% return, but they are now down 15% to 35%. In 1929 they lost 89% and took 25 years to get back to where they were. Bond funds are fine unless we have a bond accident. Your principle will go down like the stock market. Cash is fine if your bank remains solvent. Most are in trouble and FDIC is almost broke.
Most people are withdrawing their 401’s and IRA’s to pay bills now. I suppose they will want a bailout someday.
Some people would take the time to learn to invest. Most would not.

]]> By: Mike Carroll http://blogs.e-rockford.com/applesauce/2008/09/18/hows-that-cockamamie-idea-of-privatizing-social-security-going-over-these-days-not-well-i-bet/#comment-6694 Mike Carroll Thu, 18 Sep 2008 17:45:00 +0000 http://blogs.e-rockford.com/applesauce/2008/09/18/hows-that-cockamamie-idea-of-privatizing-social-security-going-over-these-days-not-well-i-bet/#comment-6694 Swamprat-I\'ll give that answer a shot. Invest in a diversified portfolio of stock mutual funds, bond funds and cash and you\'ll do fine over the long run.Since the average return on your Social Security dollars averages about 1%, you are sure to do much better. Swamprat-I\’ll give that answer a shot. Invest in a diversified portfolio of stock mutual funds, bond funds and cash and you\’ll do fine over the long run.Since the average return on your Social Security dollars averages about 1%, you are sure to do much better.

]]> By: Billybeermonicagar http://blogs.e-rockford.com/applesauce/2008/09/18/hows-that-cockamamie-idea-of-privatizing-social-security-going-over-these-days-not-well-i-bet/#comment-6692 Billybeermonicagar Thu, 18 Sep 2008 17:39:31 +0000 http://blogs.e-rockford.com/applesauce/2008/09/18/hows-that-cockamamie-idea-of-privatizing-social-security-going-over-these-days-not-well-i-bet/#comment-6692 Swap, Stocks that pay dividends. It is called compounding--for those of you who "have no skin in the game". Swap, Stocks that pay dividends. It is called compounding–for those of you who “have no skin in the game”.

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