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To: Kid Shelleen

Gamble? I wish it was a gamble. At least in a gamble, you have a small chance of winning. Retirement in America for anyone below the age of 50 is called “getting screwed.” No Social Security and there is a good chance that your 401K will be confiscated. All to feed the government spending beast whose appetite is never satisfied.


7 posted on 04/22/2013 2:12:07 PM PDT by Opinionated Blowhard ("When the people find they can vote themselves money, that will herald the end of the republic.")
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To: Opinionated Blowhard

Get a government job...You can retire at 50 or so and live off tax payers money the rest of your life.


13 posted on 04/22/2013 2:24:41 PM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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To: Opinionated Blowhard

I dont see Social security going away. Politicans will just print more money before they piss off voters. Nevertheless younger people should not absolutely count on it.

Confiscatation of 401K’s? no. They will reduce the lifetime cap. So increasingly you can save less tax free. It will mainly hurt the wealthy. But even if they lower the cap to zero you can still save for retirement the old fashioned way with after tax investments allocated across mix of stocks and bonds. a 40 year investment plan where you invest 10-30% of your salary should work out well even without tax deferral. The problem is most people dont have the discipline

The bigger problem is confiscatory taxation. Gambling is for mathematically challenged fools. Almost no chance to win legitimately. I do it occasionally as entertanment but thats it.


26 posted on 04/22/2013 2:59:17 PM PDT by plain talk
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To: Opinionated Blowhard; babble-on

Retirement is a gamble for everyone now. Put your money in CDs (as many older folks have done) and the return you get is miniscule and eaten up by inflation, buy stocks or gold, and who knows? Spend it now before the government takes it? No matter what any of us do, we’re tooled.


36 posted on 04/22/2013 3:30:41 PM PDT by Pining_4_TX (All those who were appointed to eternal life believed. Acts 13:48)
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