And while I'm runing your plans - Social Security at risk

[Greebo]

I have no problem with planning as if your returns will be that low - all the more reason to set aside 15% towards retirement. Planning on those numbers will make you all the better off in the future.

I just think they're far too pessimistic. If you look for op ed pieces from the late 30's early 40's you'll find similar such gloomy gus outlooks.

[pollypurebred39]

What amount are you promised that you won't be getting?

Annuity- At some point as I understand it it is a lump sum payment???

Pension-If I recall correctly it was somewhere around $2500 a month, or you can take it in a lump sum with a penalty. Wait, maybe that's the annuity? Insurance was covered in full but now is low cost.

Mutual fund? Now that I'm clueless, all I remember was us having a choice between 4 and we had no clue what to pick. We did pick one though, could have been ennie mennie, minny, moe. Hanging head in shame, okay so clearly we were dumb.

[Greebo]

Well find a recent statement for 401k for starters.

[Dutchie]

May I just say that I am really enjoying reading this thread.

Thanks !

[kita]

Greebo,
Wow, you are being a little nasty, don't you think? And arrogant to think that YOU can make forecasts about any one mutual plan. Hindsight is 20/20 and while thoughtful, educated planning will do better than guesswork, nothing and no one is perfect (except God).
Another fault I see in this discussion is that no one is giving out their ages. Except for the one who said he/she had 15 years to SS retirement. The number of years you have until retirement makes a huge difference in this discussion. On one hand, if you are 75 (like my mother), SS will probably be around for the rest of her life. For me at 45, I imagine (not saying counting on...) there will be some SS when I retire, although I don't know for how long. BUT I also have a longer time to invest in your perfect stocks, paying off the house etc. Also, a hundred year outlook on the economy is great for a country but doesn't work for a person because they are not likely to live for a hundred years much less work for that.
Also, and this is partly a pet peeve, this comment.

Quote:
Originally Posted by frugalwarrior2
Oh Greebo,It'll be FIIIIIIIIIIIIIIINE.

Greebo : Suuure it will be. Here, have some kool-aid!


Are you suggesting that euthanasia is a valid response for the SS problem? I HAYE HATE HATE HATE HATE HATE it when people use this expression for a cheap laugh because it came from a horrid event where hundreds of people died. But, hey, maybe you think that if we killed of all these annoying pesky baby boomers who are out living expectations and costing society money, our economy would keep to its 10% return.
!

[PlainCash4]

oh yeah. I think mine even said that i wouldnt be getting all of what i am supposed to. Its not really meant to be lived on. It would be nice to get something a little extra

[SixxOfDiamonds]

Social security? What's that? I know that I will never see it in my lifetime - I am 23.

In other news - I recall reading that article in 2006 when I got married and had to stand in the social security office waiting to change my maiden name.

So, we sock away into a TSP and IRAs while praying that the military honors it's pension.