Chef Jim Posted May 11, 2019 Share Posted May 11, 2019 Give your 401k to the government! https://www.investmentnews.com/article/20190418/free/190419931/richard-thaler-wants-to-use-401-k-s-to-boost-social-security-payments Ummmmmm........no! Link to comment Share on other sites More sharing options...
DC Tom Posted May 11, 2019 Share Posted May 11, 2019 It's a better plan than the usual "Give your money to us, and we'll put it in government bonds" Social Security-alternative that you hear socialists pushing. Not much...but a little better. Link to comment Share on other sites More sharing options...
Chef Jim Posted May 11, 2019 Author Share Posted May 11, 2019 Well now that I think about it better to have an income stream from your $250k than letting someone do whatever they want when they turn 59 1/2. I guess we can call this the “I’m an idiot and need mommy to pay me an allowance” maneuver. Link to comment Share on other sites More sharing options...
Foxx Posted May 11, 2019 Share Posted May 11, 2019 (edited) lol, this is just the latest trial balloon. it has been floated at various points in the past. .gov is broke as they have become too big for their britches. Edited May 11, 2019 by Foxx Link to comment Share on other sites More sharing options...
TakeYouToTasker Posted May 11, 2019 Share Posted May 11, 2019 They’ve been talking about this for about 15 years. Link to comment Share on other sites More sharing options...
Azalin Posted May 11, 2019 Share Posted May 11, 2019 If I already have my 401K and my social security both coming to me, then I don't understand the advantage of merging one into the other and having the feds deliver it to me in one monthly payment. Unless they're planning to means-test SS payments, then I suppose it's a good way for them to hide any SS cutbacks they may make. Link to comment Share on other sites More sharing options...
TakeYouToTasker Posted May 11, 2019 Share Posted May 11, 2019 (edited) 9 minutes ago, Azalin said: If I already have my 401K and my social security both coming to me, then I don't understand the advantage of merging one into the other and having the feds deliver it to me in one monthly payment. Unless they're planning to means-test SS payments, then I suppose it's a good way for them to hide any SS cutbacks they may make. It’s not about what is good for you. It’s a class warfare issue designed to appeal to the 70+ percent of Americans who have not/are not planning adequately for retirement to bolster their own receipts at your expense, and satisfy the national debt in a manner which has no negative impacts to them. Edited May 11, 2019 by TakeYouToTasker 1 Link to comment Share on other sites More sharing options...
/dev/null Posted May 11, 2019 Share Posted May 11, 2019 This ninjas in two of the Lefts long term goals (401k confiscation and 100% inheritance tax) while paying morons a reduced monthly income Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted May 11, 2019 Share Posted May 11, 2019 LoL... NEWSFLASH: They already got mine (TSP). ? What could possibly go wrong? They got my Holy Grail 3 too: SS Pension. Letting it roll with all eggs is one basket! Well, not really ALL my eggs. Link to comment Share on other sites More sharing options...
/dev/null Posted May 12, 2019 Share Posted May 12, 2019 1 minute ago, ExiledInIllinois said: LoL... NEWSFLASH: They already got mine (TSP). ? What could possibly go wrong? They got my Holy Grail 3 too: SS Pension. Letting it roll with all eggs is one basket! Well, not really ALL my eggs. You do know that you can roll your TSP into another retirement plan right? Link to comment Share on other sites More sharing options...
Chef Jim Posted May 12, 2019 Author Share Posted May 12, 2019 39 minutes ago, TakeYouToTasker said: They’ve been talking about this for about 15 years. What they've been talking about is privatizing SS by allowing people to invest theirs as they see fit. This is handing over up to $250k of your 401k (and I assume IRA) to SS would then annuitize it into an income stream. I have never heard this discussed. 4 minutes ago, /dev/null said: You do know........ No he doesn't. Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted May 12, 2019 Share Posted May 12, 2019 1 hour ago, /dev/null said: You do know that you can roll your TSP into another retirement plan right? Yes. Link to comment Share on other sites More sharing options...
leh-nerd skin-erd Posted May 12, 2019 Share Posted May 12, 2019 2 hours ago, TakeYouToTasker said: It’s not about what is good for you. It’s a class warfare issue designed to appeal to the 70+ percent of Americans who have not/are not planning adequately for retirement to bolster their own receipts at your expense, and satisfy the national debt in a manner which has no negative impacts to them. Correct. Take at-risk money from the equities market, move it into a failing government scheme and issue the recipient a "guarantee monthly payout". redistribution naturally follows. Link to comment Share on other sites More sharing options...
Chef Jim Posted May 12, 2019 Author Share Posted May 12, 2019 1 hour ago, leh-nerd skin-erd said: Correct. Take at-risk money from the equities market, move it into a failing government scheme and issue the recipient a "guarantee monthly payout". redistribution naturally follows. Which is something anyone can do on their own. Why trust your payout to the government. I’d rather leave it in the hands of an insurance company. That is what they do. 1 Link to comment Share on other sites More sharing options...
/dev/null Posted May 12, 2019 Share Posted May 12, 2019 2 hours ago, ExiledInIllinois said: Yes. so why are you complaining that "They already got mine" when in fact you are the one in control? Link to comment Share on other sites More sharing options...
Chef Jim Posted May 12, 2019 Author Share Posted May 12, 2019 3 minutes ago, /dev/null said: so why are you complaining that "They already got mine" when in fact you are the one in control? In control? Did you forget who you’re talking to? Link to comment Share on other sites More sharing options...
Chef Jim Posted May 12, 2019 Author Share Posted May 12, 2019 12 hours ago, /dev/null said: You do know that you can roll your TSP into another retirement plan right? BTW he can likely also roll his FERS. Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted May 12, 2019 Share Posted May 12, 2019 (edited) 8 hours ago, /dev/null said: so why are you complaining that "They already got mine" when in fact you are the one in control? I am not complaining. LoL. They already got mine. I fully understand I can move it. Yet... I will still be retired @ 56.5 with almost 40 years under my belt. FWIW: Invest early. Doesn't matter where it goes. I have been in TSP for almost 30 years. Put in almost 20% of my pay... They match 4.5%. 8 hours ago, Chef Jim said: In control? Did you forget who you’re talking to? Of course I am in control... Bet, you'd like to get Your hands on it. NOT in my wildest dreams! LoL... Edited May 12, 2019 by ExiledInIllinois Link to comment Share on other sites More sharing options...
Chef Jim Posted May 12, 2019 Author Share Posted May 12, 2019 1 hour ago, ExiledInIllinois said: I am not complaining. LoL. They already got mine. I fully understand I can move it. Yet... I will still be retired @ 56.5 with almost 40 years under my belt. FWIW: Invest early. Doesn't matter where it goes. I have been in TSP for almost 30 years. Put in almost 20% of my pay... They match 4.5%. Of course I am in control... Bet, you'd like to get Your hands on it. NOT in my wildest dreams! LoL... I didn’t mean in control of your money. I meant in control in general. ? And I’ve already had my hands on it. Who the hell do you think funded your FERS and TSP match? ? You’re welcome. Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted May 12, 2019 Share Posted May 12, 2019 12 minutes ago, Chef Jim said: I didn’t mean in control of your money. I meant in control in general. ? And I’ve already had my hands on it. Who the hell do you think funded your FERS and TSP match? ? You’re welcome. My fellow co-workers and I? Our pension is self-funded and solvent. We contribute 1.5% into own pension. Pension is only 40% of my basic pay when I retire. Agency is funded out of General Fund. I pay taxes too, same with co-workers. View it this way: None of your $0.0000000006 went to me. It went to transgender art projects in SoHo. See... Much better now If anything my fellow co-workers and General Fund $$$ came from ourselves. There, your hands are clean. If you want @/dev/null can contribute $0.000000012 to the cause. LoL... Link to comment Share on other sites More sharing options...
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