> The point is if you were full up in the market and retired in 1963 by > 1974 you were broke. Of course the market provides great returns over > time but:
This would only be possible if during that time you took out the 65% of your money that the decrease in interest didn't take. Also, virtually no-one who's retired has all their money in stocks. It's usually almost all in bonds. > 1.) The market as a whole does, not individual stocks. Ask Enron > shareholders who used their options as their retirement plan. Who said anything about individual stocks? Anyone who puts their eggs all in one basket deserves to lose their money. Show me what part of this plan requires or even suggests investing in single stocks? > 2.) Even investing in index funds or ETFs doesn't GUARANTEE you the > money when you need it. Only an annuity-type thing does that like > Social Security. Social Security is not an Annuity. An annuity is something you pay into over time to build up a fund which is then paid out to you at a sceduled rate over time. SS does not do this. See my previous post, but your money goes right back outta SS. The "Fund" is not your savings account. > 3.) Social Security should be part of 3-part retirement plan: 1 - part > from social security, 1 - part from Government incented savings like > 401ks, and 1 - part from your own good fiscal sense (pensions, > investments, et. al). Seriously? You think the govt does a better job with your money than you can? > The facts I used were to show that a majority of people over 50 have, > through their own fault, only social security to live on. If you > start baking in risk to that you can bet that you're going have > trouble. It's definitely a problem. People over 50 have alot to lose. I would certainly not be in support of any plan that eliminated their benifits. I don't think the current proposal from Bush suggests that this happens, so really this is a moot point. -Cameron -- Cameron Childress Sumo Consulting Inc http://www.sumoc.com --- cell: 678.637.5072 aim: cameroncf email: [EMAIL PROTECTED] ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Now there’s a better way to fax. eFax makes it possible to use your existing email account to send and receive faxes. Try eFax free. http://www.houseoffusion.com/banners/view.cfm?bannerid=63 Message: http://www.houseoffusion.com/lists.cfm/link=i:5:143223 Archives: http://www.houseoffusion.com/cf_lists/threads.cfm/5 Subscription: http://www.houseoffusion.com/lists.cfm/link=s:5 Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5 Donations & Support: http://www.houseoffusion.com/tiny.cfm/54
