Originally Posted by Huck Finn
It sure seemed like everyone here thought it was a great idea when the shrub was pushing it.Are you still mad that the option was never presented to you? How great would it have been to have your whole social security account tied to the stock market????? Is anyone mad that common sense put an end to that idea?
P.S A great big Hello hello and howdy howdy to Mike, And a sincere hope for Exracer that what ever road he has to travel is easy and smooth. He always had my back here, even when he disagreed with what I had to say, so I really wish the best for him and his family. He has always been the voice of reason and a good man and that's something he can hang on to and bring with him on his next journey. It is us who will lose, not him. God bless you my friend.
A lot of us thought we should have the option to put it ALL into the market, but Bush never even proposed this. His plan was to allow people to have control over only a portion of their SS money, and it failed because our illustrious representatives in government were having too much fun putting it into liberal programs like Fannie Mae and Freddie Mac.
But IF I had the opportunity to have put it ALL into the markets would I have done so?
Let us examine that a little bit -
I started paying into SS when I was 16, fifty years ago - 1959.
In 1959 the DOW was running around $600.
I continued to pay into SS until my job moved to China in 2004.
In 2004 the DOW was running around $10,000.
I started drawing SS when I was 62, in 2005
In 2005 the DOW was running around $10,500.
During the time that I drew it, the market went even higher.
In 2007, the DOW broke $14,000.
I am still drawing it today.
Today, the DOW is running around $6,600.
Do I wish my SS deductions would have been put into mutual funds fifty years ago when the DOW was $600 and allowed to draw dividents for fifty years AND take advantage of an ELEVEN FOLD appreciation level to today?
And so should any thinking person who simply looks at the markets LONG TERM history.
Remember folks, retirement is LONG TERM! You can not look at the market 18 months ago and compare it to today and conclude that it is a poor place for returement money, unless you start paying in only 18 months before you plan to retire.