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Old 07-02-2008, 02:48 PM   #241
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Wrong country and too young for that one. England and AGE 70 - and it was free (no contributions). Predates SS a bit as it was enacted in 1908.
From Wikipedia:

Provisions of the Act
The Act is formally cited as the Social Security Act, ch. 531, 49 Stat. 620, now codified as 42 U.S.C. ch.7. The Act is also known as the Old Age Pension Act. The Act provided benefits to retirees and the unemployed, and a lump-sum benefit at death. Payments to current retirees were (and continue to be) financed by a payroll tax on current workers' wages, half directly as a payroll tax and half paid by the employer. The act also allocated money to states to provide assistance to aged individuals (Title I), for unemployment insurance (Titles III), Aid to Families with Dependent Children (Title IV), Maternal and Child Welfare (Title V), public health services (Title VI), and the blind (Title X).[9]

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Old 07-02-2008, 03:19 PM   #242
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Thanks FD-strange how we Americans seem to copy the Brits in so much. I googled it "Old Age Pension Act" and it gave me the English version. I do agree that I do have 2 annuities. I even am open to a 3d and 4th one in 2013 when ALL of our IRA CD's (Traditional and ROTH) mature on the same date.
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Old 07-02-2008, 03:47 PM   #243
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Thanks FD-strange how we Americans seem to copy the Brits in so much. I googled it "Old Age Pension Act" and it gave me the English version. I do agree that I do have 2 annuities. I even am open to a 3d and 4th one in 2013 when ALL of our IRA CD's (Traditional and ROTH) mature on the same date.
Well, in 5 years, maybe CDs will be 8%, and you'll be whistling Dixie.........
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Old 07-02-2008, 03:47 PM   #244
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strange how we Americans seem to copy the Brits in so much.
Especially in television. So many American shows are inferior copies remakes of British originals. See e.g. All in the Family (originally Till Death Us Do Part), American Idol (originally Pop Idol), Men Behaving Badly, The Office, Queer as Folk, Sanford and Son (originally Steptoe and Son), Three's Company (originally Man About The House), Too Close For Comfort (originally Keep it in the Family), The Weakest Link, Who Wants to Be a Millionaire, etc.

End hijack!
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Old 07-02-2008, 04:01 PM   #245
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Well, in 5 years, maybe CDs will be 8%, and you'll be whistling Dixie.........
Yeah and the South will rise again! Btw, the DOW is now officially in a bear market. I'm almost glad it closed in bear territory, maybe the talking heads will now start talking about when the next bull will begin.
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Old 07-02-2008, 04:23 PM   #246
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Yeah and the South will rise again! Btw, the DOW is now officially in a bear market. I'm almost glad it closed in bear territory, maybe the talking heads will now start talking about when the next bull will begin.
I'd much rather the talking heads start buying stocks than talking about when the next bull market will begin.

I guess I'll be doing some tax selling early this year.
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Old 07-02-2008, 04:32 PM   #247
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I'm afraid that today will go down in history as the beginning of the end. I decided to start buying into the stock market today and I've noticed in the past that I'm able to move global markets by my actions. I also control the weather just by virtue of washing my car....
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Old 07-02-2008, 04:38 PM   #248
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ejman, you could make a good living, if you're prepared to work under contract to short sellers!
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Old 07-02-2008, 05:06 PM   #249
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I'm afraid that today will go down in history as the beginning of the end. I decided to start buying into the stock market today and I've noticed in the past that I'm able to move global markets by my actions. I also control the weather just by virtue of washing my car....
Don't be so sure. If I couldn't take down USO by buying it, I don't think this will work either...
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Old 07-02-2008, 05:10 PM   #250
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I'm afraid that today will go down in history as the beginning of the end. I decided to start buying into the stock market today and I've noticed in the past that I'm able to move global markets by my actions. I also control the weather just by virtue of washing my car....
Wow!! I'm really glad that I didn't buy, then. I almost did, but then got caught up in some stuff at work.
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Old 07-02-2008, 05:30 PM   #251
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How do you think I feel? I'm the one who ignored the voice in my head telling me to bail out on Halloween last year when the markets (and my portfolio) were at an all-time high, and now I sit 12% below that...
What would you have said if you'd bailed last Hallowe'en and the market was up another 12% now?

More importantly, when is that little voice going to tell you to start buying?
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Old 07-02-2008, 07:01 PM   #252
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That's the point. A person may pick the exact point to bail, but after that its more important to pick when to get back in.

I bailed my 401k to cash at the right time in 2000 when my boss and I had about the same 401k amounts. He stayed in. I missed the right time when I got back in and his balance today is more than 11% greater than mine. I'm staying in no matter what this time.

here's a link showing volatility of 2000-2004 that doesnt make now look too bad

Stock Market Downturn Of 2002 Dow January Lost Value 2000
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Old 07-02-2008, 08:42 PM   #253
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So will your 5-7% stock returns.

Don't forget to add in the cost of buying, selling and managing stocks.

CDs don't have those costs.


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Old 07-02-2008, 09:01 PM   #254
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I panicked..I bought more stocks..Someone help please
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Old 07-02-2008, 09:42 PM   #255
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I panicked..I bought more stocks..Someone help please
Go visit Dave Ramsey's website. He might have an approved shrink listed for your neck of the woods.
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Old 07-02-2008, 09:52 PM   #256
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Go visit Dave Ramsey's website. He might have an approved shrink listed for your neck of the woods.
But but I already do all his pay off your debt tirade stuff he does
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Old 07-02-2008, 10:25 PM   #257
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ejman, you could make a good living, if you're prepared to work under contract to short sellers!
Actually, both shorts and longs could make lots of money from my guidance - just do exactly the opposite of what I do.....
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Old 07-02-2008, 10:52 PM   #258
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The American stock market has always been resilient, but does that mean it always will be. The Japanese stock market was at 39,000 back in the late 80’s. Almost 20 years later it now it sits at around 13,000. Who is to say that could not happen to the stock markets in this country.
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Old 07-02-2008, 11:01 PM   #259
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The American stock market has always been resilient, but does that mean it always will be. The Japanese stock market was at 39,000 back in the late 80ís. Almost 20 years later it now it sits at around 13,000. Who is to say that could not happen to the stock markets in this country.
Not me. But I am not predicting that outcome. I do think we are a little spoiled though, always thinking something bad couldn't happen in the great US of A. The way this country is run with the deficit spending and all, our future could include some painful times. I only wish I knew.
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Old 07-03-2008, 08:13 AM   #260
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I prefer up to down, since I'm long the markets. Having said that, we're still in "shallow" bear territory. If you're panicking now, time to 1) revisit your allocation, and 2) turn off MTV CNBC...
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