Comments on: Report: A 2008 retiree would have lost $26,000 under Bush-McCain style privatized Social Security.

By: Since2oo6

Since2oo6 — Tue, 31 Mar 2009 14:23:59 +0000

Ohh Thanks :)

By: SirWillae

SirWillae — Fri, 17 Oct 2008 18:58:16 +0000

The report cited is DEEPLY flawed. The author did not consider the effects of dividends OR dollar cost averaging. In essence, he considered buying a broad-base index fund in 1973, squandering the dividends for 35 years and selling it in 2008. In that very specific case, yes, the real return was only 2.4%.

HOWEVER, once you factor in dollar cost averaging and reinvesting dividends (like people investing for retirement do), you get a very different answer. The real return comes out to 6.55%, which is 3.55% higher than the “clawback” in the proposal to privatize Social Security.

Let’s see… 3.55% compounded over 35 years… that’s a lot of money.

By: singe_101

singe_101 — Thu, 16 Oct 2008 21:05:12 +0000

You people think you can retire?

That’s the problem, entitlement society. What’s next, social services? Gonna cry about it?

You’re supposed to eat lots of fat and get stressed out, watch reality TV and read at an 8th grade level, then have heart disease and pay everything for health insurance and out-of-pocket.
/snark

By: Fred

Fred — Thu, 16 Oct 2008 20:56:36 +0000

regular_joe Says:

I can tell you that at least some of them are starting to change thier minds.

In our local pharmacy the other day I raised this exact question: What if we had let bush privitize our social security.

The response was initally, “What, do you think social security will even be there”

My answer was that yes, it would if we could keep the republicans from stealing from the fund.

I also pointed out that socialism exists in our society now and everyone takes it for granted….

police
teachers
highways
education
etc.

It was like they had never put it together before. Seemed to be eye opening for several of them.

I also pointed out that social security had been the most sucessful program in American history, helping millions of Americans over the years and who among you doesn’t have someone who depends on it this very day……

I felt pretty good as I left but of course one of them had to say: I aint voting for no jigaboo…….I left angry but several of the other people followed me out to my truck and we discussed it at length….all in all a good day.

By: Zimzone

Zimzone — Thu, 16 Oct 2008 20:53:22 +0000

My 401K is now a 301K…thanks, Wall St Greed merchants.

NOLIESPLEASE, I’ve been asking the same question; someone has the money. It is NOT lost, nor is it in the USA anymore.

I know we’re not to worship material things, but when the World operates on cash, it’s hard not to be angry.

By: regular_joe

regular_joe — Thu, 16 Oct 2008 20:48:28 +0000

Everyone’s 401K has lost tens of thousands of dollars. And all John McSame wants to talk about is Ayers and ACORN. WTF?

I can see all those Repug votes, bending over, grabbing their ankles and pleading: “Please sir, may I have another?”

What are these people thinking?

By: IgnoranceIsNotBliss

IgnoranceIsNotBliss — Thu, 16 Oct 2008 20:40:51 +0000

I’m of the opinion that money does not get lost, it goes somewhere. It always goes somewhere.

By: NOLIESPLEASE

NOLIESPLEASE — Thu, 16 Oct 2008 20:28:42 +0000

Where does this lost money GO!!! Who ends up with it???? Will someone answer that question for me please.

By: NOLIESPLEASE

NOLIESPLEASE — Thu, 16 Oct 2008 20:27:18 +0000

Is it me or are the Repugs the biggest scammers in existance today????? The snake oil salesmen still exists only this time WE THE AMERICAN PEOPLE WILL NOT STAND FOR THIS. Sure lets give our money to others who say they will invest for us….Oh right…Your taking my best interest at heart…how kind of you. PUCK OFF REPUGS!!! With your idea’s.

By: IgnoranceIsNotBliss

IgnoranceIsNotBliss — Thu, 16 Oct 2008 20:24:30 +0000

in 2004

By: IgnoranceIsNotBliss

IgnoranceIsNotBliss — Thu, 16 Oct 2008 20:24:22 +0000

Badmoodman,

When my husband left the construction company that he had worked for for 15 years in 200, his 401k had lost over 100K.
Made us sick.

By: Badmoodman

Badmoodman — Thu, 16 Oct 2008 20:17:59 +0000

Report: A 2008 retiree would have lost $26,000 under Bush-McCain style privatized Social Security.»

– - PFFFFFFT, depends how much is in your retirement. Hell, In the last 4 months my retirement fund has lost $52K.