[justjim]

Originally Posted by manaboutown

Abolishing IRMAA would be wonderful. It is confiscatory.

Taxes are confiscatory and IRMAA is a tax confiscated by the government. You can be positive and think of it as doing something for the common good.

[manaboutown]

Originally Posted by justjim

Taxes are confiscatory and IRMAA is a tax confiscated by the government. You can be positive and think of it as doing something for the common good.

What would be for the common good is charging everyone the same for medicare, groceries, gasoline, whatever.

[Normal]

It’s a great time to hunt for high yield accounts. The Fed just received their inflation report. It’s up slightly to3% for January. A far cry from the desired 2%. So look for rates to stay the same or be raised next month. Your browser is not supported | usatoday.com

[dewilson58]

Originally Posted by villager7591

Please do not call social security "an entitlement." It's my money that our government is happy to use and pay me < 1% per year when I withdrawal. An entitlement is, i.e. welfare or food stamps for which a person never paid into the system.

By definition, IT IS an entitlement.

[dewilson58]

Originally Posted by CigarMaster

The clouds are parting and the sun is starting to shine after a long time of failed decisions or no decisions for that matter. It always takes time to rebuild after destruction, but my financials are looking bright at least for the next four years.

Emotional market.

[Normal]

Originally Posted by dewilson58

Emotional market.

We will always see emotional swings in the market. That’s where the money can steadily be made.

[OrangeBlossomBaby]

Originally Posted by villager7591

Please do not call social security "an entitlement." It's my money that our government is happy to use and pay me < 1% per year when I withdrawal. An entitlement is, i.e. welfare or food stamps for which a person never paid into the system.

It is exactly and precisely the opposite of what you posted. An entitlement is something you are entitled to. People who have paid into social security, are entitled to receive social security.

No one is "entitled" to SNAP payments or Section 8 housing or welfare. That's something you get when you are living in poverty. If you want a piece of that, feel free to give me all your money and investments, live in poverty, and apply for government assistance.

[manaboutown]

Mr. Market at 75: Meaning, Lessons, and Warren Buffett

[fdpaq0580]

Originally Posted by jimhoward

SSI sends checks to the disabled, to spouses of retired wage earners and to minor children of retired wage earners. And probably other groups that I don't know about. It also sends checks that are higher relative to contributions to low wage earners and lower to high wage earners.

But I think everybody knows that. Its not a return of withholding.

Surprisingly, not everybody does know that. The idea of Social Security was/is to provide a safety net for our nation's poorest and most needy citizens. If you are fortunate enough to have tons of money, you don't need SS money and may not get any. But if, for whatever reason, you have little or no other source of income, or have special needs, SS can make the difference between survival or being thrown in the street. Seems very Christian spirited of our government to me.
But, in the past, should the markets fail and hundreds of thousands loose everything they own, jobs, savings, investments, property, etc, (great depression) choose suicide, crime, prostitution, gangs.
One of the biggest surprises to me is how many folks that actually need or even rely on SS have been fooled into voting against their own best interests and their Christian principles. That's the way it looks to me.

[fdpaq0580]

Originally Posted by justjim

Taxes are confiscatory and IRMAA is a tax confiscated by the government. You can be positive and think of it as doing something for the common good.

Common good. Like sharing the load. Give everyone a chance to contribute to make this the best we can be. Civilized and socially responsible.
Unfortunately, some see life as a game of Monopoly.
"Grab all I can and to hell with everyone else".

[fdpaq0580]

Originally Posted by jimhoward

The one asset that is sure to go down in value over time is cash.

That and a nickel, I mean $12.50, will get you a cup of coffee.

(Did I just show my age?)

[Aces4]

Originally Posted by fdpaq0580

Surprisingly, not everybody does know that. The idea of Social Security was/is to provide a safety net for our nation's poorest and most needy citizens. If you are fortunate enough to have tons of money, you don't need SS money and may not get any. But if, for whatever reason, you have little or no other source of income, or have special needs, SS can make the difference between survival or being thrown in the street. Seems very Christian spirited of our government to me.
But, in the past, should the markets fail and hundreds of thousands loose everything they own, jobs, savings, investments, property, etc, (great depression) choose suicide, crime, prostitution, gangs.
One of the biggest surprises to me is how many folks that actually need or even rely on SS have been fooled into voting against their own best interests and their Christian principles. That's the way it looks to me.

Yes, if only it worked that way is would be very generous of all of us. But the reality check here is the number of people receiving SSI that don't qualify for the benefits. There are so many people on the disability lunch wagon who could be working but they learned how to play the system.

[MorTech]

Originally Posted by jimhoward

The one asset that is sure to go down in value over time is cash.

Always...It is by design...All fiat goes to zero.

There still is a lot of investment capital from overseas coming in looking for yield. I think we will be OK. Mag7 P/E isn't too ridiculous except for TSLA and maybe NVDA.

Count on higher inflation.

I am counting on tax free SS in the future...I think it might pass Congress this year.

[Rocksnap]

Yes we have a real sheet show from the policies of the last 4 years. All by design. Corrections are in order. Life will be very good.

[retiredguy123]

Originally Posted by villager7591

Please do not call social security "an entitlement." It's my money that our government is happy to use and pay me < 1% per year when I withdrawal. An entitlement is, i.e. welfare or food stamps for which a person never paid into the system.

Millions of spouses, divorced spouses, widows, and widowers are receiving a Social Security check every month who never paid anything into the system.