Halls of Shrewd'm / US Policy
No. of Recommendations: 1
hee Hee
While Germany is in midst of raising retirement age (this after some guy on TMF promised he'd get that one done)////
There are now mechanisms being put where where a small part of the pension scheme will be vested in capital markets/
Not Trump. not Bush.
This is Europe :)
No. of Recommendations: 0
Not Trump. not Bush.
This is Europe :)
iirc, Macron raised the retirement age too.
Same idea infecting much of the world: take from the Proles to solve all your fiscal problems, But no "burden" the "JCs".
Just like VAG: lay off 100.000 plant workers, but don't hurt the suits that create the administrative overhead in redundant divisions.
Steve
No. of Recommendations: 3
I would have gone for that in my 30s - and still think it’s a good idea. Some kind of managed index fund that returns 4-5%/year would be an outstanding retirement for most people.
We tend to forget that not only do we pay SS…but so do our employers on our behalf. That makes the return in the general fund not so great.
No. of Recommendations: 1
I would have gone for that in my 30s - and still think it’s a good idea. Some kind of managed index fund that returns 4-5%/year would be an outstanding retirement for most people.
We may not have, twenty years ago, but, now, we do need to consider the possibilities for corruption, just as some 401ks are corrupt. Some years ago, the employees at Honda of America sued complaining that the manager of the program, was self dealing, because the manager only made a handful of funds, all from his own company, available, and they all had poor performance and high expenses.
Remember the howl that went up from Wall St, when Congress tried to pass a law requiring investment advisors for retirement accounts be held to a fiduciary standard?
I wonder, given a free hand, how many 401k managers would look at that stack of worker's money as nothing but something to be looted?
Color Tile and Worldcom both had 401ks. They were stacked with company securities, so the worker's retirement savings were wiped out when the companies went BK.
And, if the Proles are robbed of their retirement savings, they won't retire. People have been complaining about "JCs" discriminating against older workers as long as I can remember. Steal their retirement savings, and floods of old phartz will try to hang on, to the considerable irritation of the "JCs".
Steve
No. of Recommendations: 0
iirc, Macron raised the retirement age too.
Same idea infecting much of the world: take from the Proles to solve all your fiscal problems, But no "burden" the "JCs".
Just like VAG: lay off 100.000 plant workers, but don't hurt the suits that create the administrative overhead in redundant divisions.
****
IT'S DELICIOUS too see it happen in France ----someone on TMF promised it would many moons ago :)
And --there's more to come.
Mind you France could take in more immigrants---young---who have more kids ------ and encourage them into welfare.
Oh wait. they are doing that---just as I told them to do decades ago.
Sheeple -- your racist European friends are gonna get what they deserve---- financially, and if they don't behave, otherwise.
No. of Recommendations: 0
Hi Dope.....
I remember, you've been way ahead on this one. I remember yu talking about this on TMF perhaps in the mid 2000s.
Well, anything from Trump accounts to Germany show- - you were right.
Here's my fear sir....
30 year old Dope....is NOT the general public. The Investor class on TMF and subsequently on this board --is NOT the general public.
The bad public schools, the bad culture, the bad family structures, the pop culture messages----- have seen to it that much of the general public isn't that way. Feel free in any Metro Area---- go to strip malls in the same county-----one will be filled with Kumon math tutoring. insurance. Bank. The other----$200 hair bracing, beepers, pagers, cell phone stores, vanity status symbols. At ONE of those malls. yeah, they'll privatize the shit out of Social Security while at the other ---unless there's a Cultural Intervention---do you seriously think they'll substitute today's "normal" purchases-----for buying SPY ETFs?
Hence I don't believe in full privatization (not saying you do either) and furthermore, even amongst the prudent---what's to stop withdrawals----anything from "buying bitcoin" to "I'm thinkin' about me getting one of them Subway franchises....and i'l drum up business at the Chamber of Commerce lunches....during the busy time when I really should've been at my store" or in today's culture. 'I need the money for my daughter, Arturo, and their son'.
Then after all that--the money---will NO DOUBT some how be under the purview of the Goldman Sachs JP Morgans Wells Fargos and other manipulators of humanity.
Hence I'm skittish. But math is math and I remember you used to post calculations of historical returns etc and one can't ignore that. Not now during what will be a Sheeple Crisis.
So I would indeed be open--even enthusiastic to PARTIAL - I dunno 5%? 10%? 15% of Social Security funds being put into prudent investments----but with strict "hands off" withdrawal policies and if possible. some for of non elected, anonymous non rock star committee that oversees the funds..... maybe a "LockBox" :) .
