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Do you sincerely believe people earning $14,560/year can afford investing 4% of it? Joel Send a noteboard - 04/03/2013 12:53:30 AM

Your math is appalling regardless; do not quit your day jo—oh... crap.... :P

View original postIf you make $7.00 an hour, working 40 hours a week, 52 weeks a year, that comes out to be $14,560 a year. If you invest 4%, that comes out to $48.00 a month. If you do that for 50 years – this is assuming that you never get a raise - you’d have ~$1,253,000. That would give you ~$8,300 a month after you retire, and when you die, your family still has over a million dollars.

$7/hrX40 hrs/weekX4 weeks/monthX0.04=$44.80/month. Still closer than the other figures you cited: $44.80/monthX12 months/yearX50 years=26,880=/=1,253,000. Saving every penny of a $14,560 annual income (which is ridiculous; it is below the federal poverty level for a family of just 2) only gets to $728,000. Maybe you meant some kind of investment with a 4% rate of return, but I honestly have no idea how you got to the number you did; 44.8/month compounded annually at 4% only reaches $85,356.78 in 50 years; compounded MONTHLY the first month ALONE reaches about 1/3 of the current SS trust fund by then.


View original postSocial Security’s monthly benefit for the same individual (via their online calculator) is $664. However, they were taking 15% (7.5% from the individual and 7.5% from the employer) of his income; almost 4 times as much money. With Social Security, when you die, you leave nothing but Social Security’s wonderfully generous $255 death benefit (payable only once per family), and unless you were fortunate enough to die on the first day of the month, someone has to reimburse the government for your last $644 check (no prorating over the month, even if you died on the last day) in full.

First of all, 7.5% of an individuals income plus the same from their employer is NOT taking 15% from an individual. Further, saving 4%/month of $14,560/year is STILL only $26,880. At $664/month, SS surpasses that in just 4.5 years even if we ignore the death benefit.

Your first sign of trouble should have been concluding someone earning less than federal poverty level can retire a millionaire. :shocked2:


View original postThe math is “..so simple even a caveman can do it.”

Then maybe you should call one. ;)
View original postSocial (in)Security is a complete rip-off, and there can be no debate about it; facts are facts.

Social security costs you 4 times as much, and returns about 1/12th the money.


Please tell me you are a marketer, not an actuary; I NEED that to be true. (8
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This message last edited by Joel on 04/03/2013 at 04:10:38 AM
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Can You Name the Largest US Program to ANNUALLY Collect More Than It Spent for 75 Straight Years? Joel - 28/02/2013 11:03:18 PM 1381 Views
Medicare? *NM* Aisha - 28/02/2013 11:38:22 PM 555 Views
No, Medicare has only been around about half as long. Joel - 28/02/2013 11:56:32 PM 873 Views
Medicare has its own problems, and caused many more. You really do not want to have this debate. HyogaRott - 03/03/2013 03:03:15 PM 806 Views
No, I do not, because Medicare and torts are invariably scapegoated for all problems with healthcare Joel - 04/03/2013 12:52:37 AM 864 Views
I can argue with anyone on this (and have) btut first we need to break out that dictionary HyogaRott - 04/03/2013 04:45:06 AM 786 Views
I am sure you can and have; ability to form arguments does not automatically grant them validity. Joel - 11/03/2013 09:56:11 PM 850 Views
Like I said, short conversation, once everyone uses the same definitions. HyogaRott - 13/03/2013 03:28:52 PM 859 Views
From the way you're shitting yourself with glee, I'm going to say Social Security. Cannoli - 01/03/2013 12:45:50 AM 979 Views
Hot dog, we have a wiener! Joel - 01/03/2013 01:40:18 AM 913 Views
Also unlike Ponzis, Social Security was not meant to profit—it just did anyway. For 75 years. Joel - 01/03/2013 01:55:46 AM 826 Views
It is a "Ponzi" by definition, any argument to the contrary just makes you look ignorant. HyogaRott - 02/03/2013 12:02:46 PM 895 Views
Wait: An insurer is saying insurance is a Ponzi scheme? Joel - 04/03/2013 12:56:30 AM 855 Views
You are making even lese sense than usual... Quite an acomplishment. *NM* HyogaRott - 04/03/2013 03:31:39 AM 518 Views
Maybe, but my math usually checks, and I never have to explain what I omitted. Joel - 11/03/2013 09:55:50 PM 945 Views
My math ALWAYS "checks" - it isn't personal, you are just making absolutely no sense, *NM* HyogaRott - 13/03/2013 03:27:11 PM 459 Views
It's the world's greatest Ponzi scheme, since the government forces us to give money to it. Anonymous2000 - 01/03/2013 01:05:05 PM 817 Views
Yes, "government forcing people to give money" defines a Ponzi; speeding tickets are Ponzis. Joel - 01/03/2013 03:53:02 PM 907 Views
Good lord my friend..... Anonymous2000 - 02/03/2013 04:19:35 AM 852 Views
I will just link what Isaac said; maybe then you will pay attention to it. Joel - 02/03/2013 04:56:34 AM 898 Views
I really think you terribly misread what I said *NM* Isaac - 02/03/2013 06:59:56 AM 465 Views
Yes he did. He has very poor reading comprehension skills. *NM* Anonymous2000 - 03/03/2013 01:07:59 AM 486 Views
I really do not think I did. Joel - 04/03/2013 01:43:02 AM 930 Views
I'm pretty confident you have Isaac - 04/03/2013 11:49:19 AM 914 Views
We evidently disagree on what constitutes a Ponzi scheme. Joel - 11/03/2013 09:56:27 PM 843 Views
No, I agree with a clear definiton, you seem not to want to absorb that Isaac - 11/03/2013 10:24:47 PM 1004 Views
It is neither an investment nor fraudulent. Joel - 12/03/2013 02:34:09 AM 1063 Views
Re: Yes, "government forcing people to give money" defines a Ponzi; speeding tickets are Ponzis. HyogaRott - 02/03/2013 12:22:34 PM 909 Views
Fraud="money contributed is NOT invested for the contributor, but instead redistributed to others"? Joel - 04/03/2013 12:51:30 AM 846 Views
You can try and misrepresent what I have said all you want, you are still wrong. HyogaRott - 04/03/2013 03:45:24 AM 916 Views
Dude, how is QUOTING you misrepresenting you?! And why must I ALWAYS ask that in these threads? Joel - 11/03/2013 09:56:18 PM 887 Views
Well, can you get more wrong? HyogaRott - 13/03/2013 03:45:08 PM 803 Views
Okay, that's a really weird or naive standard to judge SS by Isaac - 01/03/2013 05:25:11 PM 871 Views
Great; will you put that on a postcard to Cannoli, A2K, Rick Perry and the rest of your party? Joel - 01/03/2013 07:39:44 PM 888 Views
I don't think I'd be telling them anything they don't already know... I mostly agree with them Isaac - 02/03/2013 05:38:56 AM 1013 Views
Means testing is flat out WRONG, and the contribution limit is a sticky debate HyogaRott - 02/03/2013 12:43:09 PM 818 Views
Tell that to him not me, I didn't express an opinion and my implied one obviously doesn't favor it Isaac - 02/03/2013 05:28:14 PM 935 Views
I was, I just hit the repy under the wrong post. He was the first to bering the two topics up. *NM* HyogaRott - 03/03/2013 04:09:34 AM 458 Views
It is insurance against old age poverty, not a longevity lottery. Joel - 04/03/2013 02:00:24 AM 919 Views
It is not insurance, it is a pension plan, that also contains an overpriced LT disability insurance. HyogaRott - 04/03/2013 04:00:42 AM 922 Views
Social Security Insurance; says so right on the label. Joel - 11/03/2013 09:53:33 PM 1058 Views
You can call it BedroomWindowVitamins but it does not change what it acutally IS. HyogaRott - 13/03/2013 04:34:42 PM 834 Views
"Sustainable"=/="profitable;" bankruptcy was not always a given, as your fellows claim.. Joel - 04/03/2013 01:35:04 AM 825 Views
Sustainable often means profitable, they are not universally synonmous but both at once is ideal Isaac - 04/03/2013 12:25:45 PM 809 Views
That is the IDEAL, but NOT point: Sustainability needs no profit, yet profit ensures sustainability. Joel - 11/03/2013 09:56:48 PM 1284 Views
Your attacks on republican ideals would have more credit if you understood them random thoughts - 02/03/2013 04:27:34 AM 874 Views
An ironic charge, since their defenses of those ideals typically suffer from the same defect. Joel - 02/03/2013 04:51:32 AM 856 Views
I'm rubber you're glue, whatever you say bounces of me and sticks to you. nyah, nyah, nyah HyogaRott - 02/03/2013 12:58:10 PM 794 Views
"Unsustainable"=/="meeting monthly obligations for 75 YEARS and still having $2.5 trillion left." Joel - 04/03/2013 01:03:09 AM 906 Views
Please look up the definition of sustainable. Hint: "its worked so far" isn't it. HyogaRott - 04/03/2013 04:25:19 AM 881 Views
"As it is currently constructed/funded" is one HELL of a qualifier. Joel - 04/03/2013 04:41:30 AM 942 Views
You just don't get it, or apparently are so in love with your political ideology you won't. HyogaRott - 04/03/2013 04:58:15 AM 738 Views
I believe if you check civilizations record you will find the human population has steadily risen. Joel - 04/03/2013 05:08:38 AM 817 Views
*sigh* HyogaRott - 04/03/2013 12:15:22 PM 815 Views
Birth RATES have fallen; POPULATION steadily rose in every period except the Black Deaths peak. Joel - 11/03/2013 09:56:36 PM 1096 Views
Re: Declining birth rates are the key HyogaRott - 13/03/2013 04:47:41 PM 912 Views
Ironic that you would make my point while arguing against random thoughts - 04/03/2013 06:12:29 PM 754 Views
? Joel - 11/03/2013 09:56:59 PM 921 Views
you mistate his posistion and then rationalize that you know what he really meant random thoughts - 13/03/2013 12:06:44 PM 769 Views
aH yes the great liberal investmetn/retirement plan that offers me a NEGATIGVE rate of return... HyogaRott - 02/03/2013 11:51:50 AM 788 Views
Do you sincerely believe people earning $14,560/year can afford investing 4% of it? Joel - 04/03/2013 12:53:30 AM 951 Views
*sigh* HyogaRott - 04/03/2013 03:43:08 AM 787 Views
I tried it with compound interest; $44.80/month at 4% for 50 years still does not get to $1.25 mill. Joel - 04/03/2013 04:24:51 AM 858 Views
Here are some clues. HyogaRott - 04/03/2013 04:37:39 AM 735 Views
It is math, not the Riddle of the Sphinx: EIther it adds up or does not. Joel - 04/03/2013 05:02:39 AM 874 Views
Math is simple - Either you know how to calculate it or you don't HyogaRott - 04/03/2013 11:55:24 AM 960 Views
Indeed. Joel - 11/03/2013 09:53:59 PM 876 Views
Re: Indeed. HyogaRott - 13/03/2013 05:00:10 PM 1020 Views
SS is supposed to supplement a proper pension, not provide your sole income after retirement moondog - 05/03/2013 03:53:03 AM 748 Views
Did you bother to actually read anything? HyogaRott - 05/03/2013 02:32:16 PM 811 Views
do *YOU* know what "living in poverty" means? moondog - 05/03/2013 05:49:14 PM 875 Views
Re: do *YOU* know what "living in poverty" means? --- yeah, I've BEEN there. HyogaRott - 05/03/2013 08:01:33 PM 845 Views
how about respond to a post with logic and civility instead of being a troll for once? moondog - 05/03/2013 11:03:00 PM 955 Views
All I have used is civility and logic, or least as much civility as was warrented. HyogaRott - 06/03/2013 04:28:04 AM 889 Views
yeah, it's my fault for stooping to your level.... moondog - 08/03/2013 07:22:24 PM 928 Views
Re: yeah, it's my fault for stooping to your level.... HyogaRott - 10/03/2013 01:42:26 PM 807 Views
i'm not going to keep going in circles so i will finish with this.... moondog - 11/03/2013 10:08:53 PM 1112 Views
No loss. HyogaRott - 13/03/2013 04:37:41 PM 744 Views
"Rah! Rah! Rah!" Can we please cut out all this blather and bile? Stephen - 05/03/2013 11:53:41 PM 817 Views
spoken like a true enemy of the state! moondog - 06/03/2013 12:54:38 AM 786 Views
Re: spoken like a true enemy of the state! Stephen - 08/03/2013 03:04:37 PM 836 Views
I was not trolling, but clarifying. Joel - 11/03/2013 09:53:48 PM 874 Views
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