So...

[wig]

I'm in my mid 50's. My financial advisor has not yet pulled the S.S. panic alarm for me. In fact he told my wife & I that WE would still receive S.S.

However, I have a co-worker friend who is 36 who was told S.S. would NOT be available for their family.

They are still required to pay IN though... So... How is that not the biggest ponzi scheme ever? And how is the I.R.S. and the politicians in our country not guilty like Bernie Madoff?

(No? Really?)

 

[Ironcitysteelers]

“Co-workers friend”.

 

[Steeltime]

I'm in my mid 50's. My financial advisor has not yet pulled the S.S. panic alarm for me. In fact he told my wife & I that WE would still receive S.S.

However, I have a co-worker friend who is 36 who was told S.S. would NOT be available for their family.

They are still required to pay IN though... So... How is that not the biggest ponzi scheme ever? And how is the I.R.S. and the politicians in our country not guilty like Bernie Madoff?

(No? Really?)

We have known this for the past 30+ years. In 2004, George W had the temerity to suggest changes to the system, consisting of keeping the SS recipients in the system with no change to their benefits but adding a new retirement option for younger employees that involved no government payments. Those who opted into that system would have a retirement account that would operate as all private retirement accounts do, with money the citizens owned and could pass on to their kids when they died.

He failed to get the Congressional support needed to pass the legislation and Katrina killed any further discussion of the change. I have said for many years, and on many occasions, on this forum that the politicians responsible for the current state of SS should be in jail. Any investment firm or financial advisor who took your money and immediately spent it, with no way of guaranteeing repayment, would be in jail.

That is exactly what Congress does with SS. Right now, more is paid in than is paid out annually. That has been the case since the inception of the system. With declining birth rates and longer life expectancy, that will end in about 15 years.

So what does the Fed government do with the surplus? Why it invests the money into Federal bonds - that is, it pays itself the money and promises to repay itself more than it borrowed. Genius! I can make myself a millionaire. Just loan myself my entire net worth and promise to repay myself at a generous rate of return!

 

[Coach]

I'm in my mid 50's. My financial advisor has not yet pulled the S.S. panic alarm for me. In fact he told my wife & I that WE would still receive S.S.

However, I have a co-worker friend who is 36 who was told S.S. would NOT be available for their family.

They are still required to pay IN though... So... How is that not the biggest ponzi scheme ever? And how is the I.R.S. and the politicians in our country not guilty like Bernie Madoff?

(No? Really?)

Your financial advisor is correct. Look at the population demographics is the USA.

 

[BLITZ]

I am 55. My finaince guy is say I should be good with ss until I am 76. Then it depends on what is done.

 

[DBS1970]

We have known this for the past 30+ years. In 2004, George W had the temerity to suggest changes to the system, consisting of keeping the SS recipients in the system with no change to their benefits but adding a new retirement option for younger employees that involved no government payments. Those who opted into that system would have a retirement account that would operate as all private retirement accounts do, with money the citizens owned and could pass on to their kids when they died.

He failed to get the Congressional support needed to pass the legislation and Katrina killed any further discussion of the change. I have said for many years, and on many occasions, on this forum that the politicians responsible for the current state of SS should be in jail. Any investment firm or financial advisor who took your money and immediately spent it, with no way of guaranteeing repayment, would be in jail.

That is exactly what Congress does with SS. Right now, more is paid in than is paid out annually. That has been the case since the inception of the system. With declining birth rates and longer life expectancy, that will end in about 15 years.

So what does the Fed government do with the surplus? Why it invests the money into Federal bonds - that is, it pays itself the money and promises to repay itself more than it borrowed. Genius! I can make myself a millionaire. Just loan myself my entire net worth and promise to repay myself at a generous rate of return!

Dude SSI has always been a Ponzi Scheme and it was always doomed to fail. The FDR regime looked and actuarial data that said the average life span was 52 and foolishly thought most people would never live long enough to claim benefits. It is where most of our national debt comes from. It was always a socialist albatross hung around the necks of the American Taxpayer.

 

[madinsomniac]

I'm in my mid 50's. My financial advisor has not yet pulled the S.S. panic alarm for me. In fact he told my wife & I that WE would still receive S.S.

However, I have a co-worker friend who is 36 who was told S.S. would NOT be available for their family.

They are still required to pay IN though... So... How is that not the biggest ponzi scheme ever? And how is the I.R.S. and the politicians in our country not guilty like Bernie Madoff?

(No? Really?)

SS is a pyramid scheme… and when the population was growing it worked…. But come on… I never expected it to be there when I retired… i figure maybe 20 years from now it will be gone… a dearth in workers and a lot of older people plus the politicians raiding it periodically…. It doesn’t stand a chance

 

[Stoney]

Oh no! How will I ever survive without that $1300/month? ($325/wk)

If you haven't had a plan in place to fund your own retirement, then shame on you. You will work until you die, then the government will take whatever is left. Social Security is just one of the larcenies that the government commits against us every day of our working lives.

 

[Steelr4evr]

Oh no! How will I ever survive without that $1300/month? ($325/wk)

If you haven't had a plan in place to fund your own retirement, then shame on you. You will work until you die, then the government will take whatever is left. Social Security is just one of the larcenies that the government commits against us every day of our working lives.

If your money becomes worthless you will work until you die anyway.

I think that's the part that scares and infuriates people at the moment.

We're right on the very edge of that happening. They can raid everyone's piggy bank all they want and it won't fix this clusterfuck. The sooner this administration can be neutralized and removed the better.

 

[Superman]

Dude SSI has always been a Ponzi Scheme and it was always doomed to fail. The FDR regime looked and actuarial data that said the average life span was 52 and foolishly thought most people would never live long enough to claim benefits. It is where most of our national debt comes from. It was always a socialist albatross hung around the necks of the American Taxpayer.

key words highlighted/bolded

 

[DBS1970]

key words highlighted/bolded

I blame Ark. He is histories greatest monster. Pure evil all Arktuariaries are, but Ark is literally hitler.

 

[wig]

“Co-workers friend”.

No. It's a co-worker, who is also a friend. Although, the co-worker modifier suggests that we are not close friends, as our relationship is largely work-based.

 

[wig]

I do have a separate retirement account, and like everyone else I watch it lose money monthly.

There currently is no safe investment strategy.

And if the banking system fails, NOTHING matters. We'll be Venezuela in under 5 years.

 

[Superman]

There currently is no safe investment strategy.

wrong.

 

[Stoney]

Has anyone looked into these options, or anything like it?

https://www.crexi.com/properties/10...-motivated-seller-new-construction-chipotlane

https://www.crexi.com/properties/1026141/pennsylvania-kfc-operated-by-cmg-companies-326-units

https://www.crexi.com/properties/791566/pennsylvania-omnicare-a-cvs-health-company

https://www.crexi.com/properties/1090749/pennsylvania-family-dollar---pittsburgh-pa

 

[Stoney]

This looks like a good one, nearly 20 years on the lease: https://www.crexi.com/properties/10...-20-year-absolute-net-lease-2022-construction

 

[BLITZ]

about 20 years ago I started buying stocks that pay dividends. If you can maneuver around the tax ramifications it is another avenue. I am up to around $1100 monthly except March,June Sept, Dec, that is $1500..

 

[Stoney]

about 20 years ago I started buying stocks that pay dividends. If you can maneuver around the tax ramifications it is another avenue. I am up to around $1100 monthly except March,June Sept, Dec, that is $1500..

So you're getting the dividends, but are the stock prices themselves increasing as well? I've seen some stocks that pay high dividends but the stock price has only decreased over time.

However, I am looking at VZ (Verizon) right now, stock price is depressed and looks like a good buy that may increase - and is paying 6%+ dividend.

 

[MTC]

So you're getting the dividends, but are the stock prices themselves increasing as well? I've seen some stocks that pay high dividends but the stock price has only decreased over time.

However, I am looking at VZ (Verizon) right now, stock price is depressed and looks like a good buy that may increase - and is paying 6%+ dividend.

I seriously need to get in on stocks. I have a retirement account through amazon. And get employee stock purchase as well

 

[BLITZ]

So you're getting the dividends, but are the stock prices themselves increasing as well? I've seen some stocks that pay high dividends but the stock price has only decreased over time.

However, I am looking at VZ (Verizon) right now, stock price is depressed and looks like a good buy that may increase - and is paying 6%+ dividend.

The higher the Divvy the more chance it is a trap.
my 1st few were XOM,CVX and O. My kid will probably have to worry about the stock price tanking with XOM and CVX, but it probs wont in my lifetime

 

[Stoney]

The higher the Divvy the more chance it is a trap.
my 1st few were XOM,CVX and O. My kid will probably have to worry about the stock price tanking with XOM and CVX, but it probs wont in my lifetime

I bought XOM on the dip in 2020, its been good so far. I also considered IRM at the around the same time but didn't know too much about it and never pulled the trigger. That was a mistake, wish I had bought some.

I'm keeping an eye on DVN, which is trending downward but pays 9.5%

 

[Stoney]

I seriously need to get in on stocks. I have a retirement account through amazon. And get employee stock purchase as well

What kind of deal do they give you on their employee stock purchase program? You might be wise to max out on that benefit.

 

[MTC]

What kind of deal do they give you on their employee stock purchase program? You might be wise to max out on that benefit.

You can pay whatever you want.
It’s a direct stock purchase. Minimum is $10 to invest

I remember seeing it became like $80 = 1 whole share. I need to look into it more.

 

[BLITZ]

I bought XOM on the dip in 2020, its been good so far. I also considered IRM at the around the same time but didn't know too much about it and never pulled the trigger. That was a mistake, wish I had bought some.

I'm keeping an eye on DVN, which is trending downward but pays 9.5%

I own DVN. 100 shares. We probs bought around same time. For me it was April 2020. Everything was on sale then

 

[Confluence]

Has anyone looked into these options, or anything like it?

https://www.crexi.com/properties/10...-motivated-seller-new-construction-chipotlane

https://www.crexi.com/properties/1026141/pennsylvania-kfc-operated-by-cmg-companies-326-units

https://www.crexi.com/properties/791566/pennsylvania-omnicare-a-cvs-health-company

https://www.crexi.com/properties/1090749/pennsylvania-family-dollar---pittsburgh-pa

https://nypost.com/2023/04/10/default-risk-grows-on-1-5-trillion-in-commercial-real-estate-debt-analysts?utm_source=nypost&utm_campaign=android_nyp

Its available because banks don't want it.