Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 08-22-2008, 10:34 AM   #41
Thinks s/he gets paid by the post
 
Join Date: Jan 2008
Posts: 2,020
Quote:
Originally Posted by FinanceDude View Post
With your analysis, everyone in America with a pension should be pissed, because ALL pensions are set up the same way you describe, with actuarial tables and insurance companies behind them...........

Have you done the calculation as to how long you and your spouse need to live before you get what you paid into SS? And then think of the opportunity cost of what you LOST trusting Uncle Sam to invest your money for your future benefit. SS makes GM's pension woes look like a walk in the park.........
Well, show me where I can unenroll from SS. If I could CHOOSE to not participate in SS, I would unenroll and keep the money that they take from me. Granted, I'm fortunate that they only take their blood from the first $95k, but still...
__________________

__________________
Marquette is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 08-22-2008, 11:17 AM   #42
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
cute fuzzy bunny's Avatar
 
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,697
Yeah, but I'm pretty sure that in both the pension and SS cases, we werent given a choice to opt out.

And for the financially illiterate who dont care to learn, an annuitization of part of their money might be a good idea.

While there are a couple of people kicking around here who have absolutely no clue about finances, or the wrong clue, I'm not sure that the vast majority of users qualify as financially illiterate. Illiterate maybe, but not financially so...
__________________

__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
cute fuzzy bunny is offline   Reply With Quote
Old 08-22-2008, 11:56 AM   #43
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
FinanceDude's Avatar
 
Join Date: Aug 2006
Posts: 12,484
Quote:
Originally Posted by cute fuzzy bunny View Post
And for the financially illiterate who dont care to learn, an annuitization of part of their money might be a good idea.
Why do you think all annuities are annuitized? SPIA yes, others no........
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)


This Thread is USELESS without pics.........:)
FinanceDude is offline   Reply With Quote
Old 08-22-2008, 12:52 PM   #44
Thinks s/he gets paid by the post
2B's Avatar
 
Join Date: Mar 2006
Location: Houston
Posts: 4,330
Quote:
Originally Posted by FinanceDude View Post
With your analysis, everyone in America with a pension should be pissed, because ALL pensions are set up the same way you describe, with actuarial tables and insurance companies behind them...........

Have you done the calculation as to how long you and your spouse need to live before you get what you paid into SS? And then think of the opportunity cost of what you LOST trusting Uncle Sam to invest your money for your future benefit. SS makes GM's pension woes look like a walk in the park.........
I have some trivial pensions and I'll get SS. Since I never had a choice, I'm stuck with these and I'll certainly cash the checks since I lost the income that went into creating these. That doesn't mean I wanted them rather than extra income. It certainly shouldn't cause anyone to think that since I've been forced to take these versions of annuities that I would want to go out and buy more.
__________________
The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane -- Marcus Aurelius
2B is offline   Reply With Quote
Old 08-22-2008, 12:54 PM   #45
Thinks s/he gets paid by the post
2B's Avatar
 
Join Date: Mar 2006
Location: Houston
Posts: 4,330
Quote:
Originally Posted by Marquette View Post
Granted, I'm fortunate that they only take their blood from the first $95k, but still...
This year it's the first $102K. Next year it will go up so stay tuned....
__________________
The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane -- Marcus Aurelius
2B is offline   Reply With Quote
Old 08-22-2008, 12:57 PM   #46
Thinks s/he gets paid by the post
 
Join Date: Jan 2008
Posts: 2,020
Quote:
Originally Posted by 2B View Post
This year it's the first $102K. Next year it will go up so stay tuned....
Ahh... ok

Well, I'm fortunate that they only take it out of the first $102k then.
__________________
Marquette is offline   Reply With Quote
Old 08-22-2008, 01:02 PM   #47
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
FinanceDude's Avatar
 
Join Date: Aug 2006
Posts: 12,484
Quote:
Originally Posted by 2B View Post
I have some trivial pensions and I'll get SS. Since I never had a choice, I'm stuck with these and I'll certainly cash the checks since I lost the income that went into creating these. That doesn't mean I wanted them rather than extra income. It certainly shouldn't cause anyone to think that since I've been forced to take these versions of annuities that I would want to go out and buy more.
Just like those of us under 50 will NOT have the choice when Congress decided to DECREASE our benefits. I for one am not planning to get SS, even though I have been paying into it for over 25 years.........
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)


This Thread is USELESS without pics.........:)
FinanceDude is offline   Reply With Quote
Old 08-22-2008, 01:23 PM   #48
Thinks s/he gets paid by the post
 
Join Date: Jan 2008
Posts: 2,020
Quote:
Originally Posted by FinanceDude View Post
Just like those of us under 50 will NOT have the choice when Congress decided to DECREASE our benefits. I for one am not planning to get SS, even though I have been paying into it for over 25 years.........
You could make up the difference by purchasing an annuity.
__________________
Marquette is offline   Reply With Quote
Old 08-22-2008, 01:43 PM   #49
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
FinanceDude's Avatar
 
Join Date: Aug 2006
Posts: 12,484
Quote:
Originally Posted by Marquette View Post
You could make up the difference by purchasing an annuity.
Or I could just do like unclemick and buy the Norwegian widow's dividend portfolio and PSST!!! Wellesley...........
__________________

__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)


This Thread is USELESS without pics.........:)
FinanceDude is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Annuity post to end all annuity posts... Midpack FIRE and Money 61 07-09-2008 08:29 AM
Rolling over annuity money to Variable Annuity?? bigcedargrandma Hi, I am... 4 03-20-2008 07:39 AM
Is 4% really safe? Jim666 FIRE and Money 75 04-04-2006 09:06 AM
where safe 2% plus searcher FIRE and Money 9 02-09-2005 01:55 PM
"Is the Safe Withdrawal Rate TOO Safe?" Nords FIRE and Money 13 10-20-2004 11:36 AM

 

 
All times are GMT -6. The time now is 01:17 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.