By SUPER YARAK Go To PostThis isn't unusual for the Army. Sorts of dudes that need prison, not military training.That's always been my primary concern with the Brexit shit
This kind of dissension has a time limit to it. Each time stuff like this pops up you have to assume its much, much more widespread than just what's in the video - and at higher ranks as well.
By Lunatic Go To PostCayman. Half the country works in it. Pensions are racket. Fuck em
You're really looking at this way too simply, just because half the island is fs doesn't mean theyre better equipped to execute trades consustently. Fine for you to think the system isn't great but thinking it's sensible for a whole island of people invest with the means to generate enough income to retire is beyond arrogant
By DY_nasty Go To PostTrust the market brehsI don't understand what this pertains to? Are pensions in somehow shielded from the market?
By Lunatic Go To PostI don't understand what this pertains to? Are pensions in somehow shielded from the market?
If they're such a racket, why did companies ditch them for 401K's? Were they simply thinking of us? lol
By Lunatic Go To PostI don't understand what this pertains to? Are pensions in somehow shielded from the market?Nothing is 100 percent shielded but it's infinitely more reliable imo
Market is always leaning towards exploitation no matter how people like to spin it. Meanwhile, your wages translating straight into retirement when you're all done allows working class to transition when it'd be pretty difficult otherwise. It's hard enough to save money - the idea that people can save and take those sorts of long term risks is kinda unreasonable.
Pensions are automatic too. Almost like a payroll tax in that regard. 401K's require the employee set aside their earnings to save. Which results in 80% of Americans under saved for retirement. Which makes upward mobility more difficult because old fucks won't leave the labor market. And lets not act like companies raised wages when the moved away from pensions into 401K.
And from my experience, most companies do not 401k match. Some even require you to meet a contribution threshold before they do match, which inhibits lower income earners from contributing a high amount. It's difficult to justify setting aside 5% of your paycheck for a benefit you won't see for another 30 years when you need that 5% to survive tomorrow.
Still laughing at this conversation. If you think 401ks are genuinely better than a pension done right lmao. Fuck. Most people working a menial job at Albertson's isn't going to know what the fuck to do with that. They're already paid gobshite are they supposed to hire a CPA? Better yet buy stocks back into the company that's totally gonna be around when you retire. Let them choose. Yeah. Trust financial institutions brehs. They never fuck people over.
Never said anything about a 401k and honestly have no idea what that is but I'm going to assume it's some tax shielded investment vehicle for Americans.
By Lunatic Go To PostNever said anything about a 401k and honestly have no idea what that is but I'm going to assume it's some tax shielded investment vehicle for Americans.
Yes ... companies went away with Pensions, moved the responsibility to the employee via a tax free path called a 401K where earned money is taken out pre tax, and then half assed their contributions as Reilo noted so they don't pay out nearly as much as they did when pensions were a thing. In the meantime, half the poor fucks in the country are voting for a racist ass party who is actively perusing hurting social security.
By Random Ass Username Go To PostSo your alternative to pensions is….
All these undersaved boomers defecating in the streets because we have shit retirement and medical care
By Random Ass Username Go To PostSo your alternative to pensions is….Using The Matrix's headjack to download the necessary financial knowledge.
Although then again good decision making isn't exactly common...
By Lunatic Go To PostNever said anything about a 401k and honestly have no idea what that is but I'm going to assume it's some tax shielded investment vehicle for Americans.401ks are basically our market leaning retirement for the average joe
they're pretty much just not better than pensions in any way. if you want to suggest guys save up and make these investments then you've also got to take into consideration the predatory stuff out there is a field in itself and the average person simply isn't gonna survive that leap of faith
things are obviously much easier if you're rich and your income is comfortably above your cost of living and whatnot tho lol
Save up yourself, find the time somehow between choosing insurers, or hire a CPA.
lol.
Are you just coddled and rich or something Lunatic?
lol.
Are you just coddled and rich or something Lunatic?
By Random Ass Username Go To PostSave up yourself, find the time somehow between choosing insurers, or hire a CPA.
lol.
Are you just coddled and rich or something Lunatic?
Lunatic believes in using passive sources of income to generate wealth.
A.K.A. fiefdoms.
He believes people should be his serfs.
He disguises it as being libertarian.
He's really just a slave trader.
A.K.A. capitalist.
All employers here must provide their employees with health insurance. They either deduct it from salary or contribute an amount toward it. I think mine is about 1/3 the cost is deducted from my salary. There is no income or capital gains tax in my country so you don't require a CPA unless you operate financially regulated entities.
401ks also charge you to maintain. The average person (like me) doesn't have time or knowledge to manually decide where to spread funds. So prudential or some other investment company does it for you. For a nominal fee of course. Just select how risky you want to be and you're done.
By Random Ass Username Go To PostAnd your alternative retirement plan to pensions is?Passive investments(unmanaged) and property. Preferably you will want to have established your business as only then are you able to have some semblance to control your own future.
By Lunatic Go To PostPassive investments(unmanaged) and property. Preferably you will want to have established your business as only then are you able to have some semblance to control your own future.
Old and busted defecating in the streets it is!
The workforce in the US that missed out on pensions do not, by and large, make enough money to become property owners. As mentioned multiple times, the passive investments (i.e. 401k managed by a separate company) are risky and not particularly efficient.
imagine using your retirement savings to start a business. i mean MAYBE if the goal is go all or nothing on insurance fraud before you dig into the bucket list heavily lol
at that point, why the fuck not
at that point, why the fuck not
By Lunatic Go To PostPassive investments(unmanaged) and property. Preferably you will want to have established your business as only then are you able to have some semblance to control your own future.You are frankly a dumbfuck.
"Just buy more money."
Whew.
Even if I take this at face value here you are with "land never depreciates."
Why do you think Nic Cage is doing a fuckton of movies.
This is a serious issue that no one talks about very seriously. Boomers are aging and hitting retirement age and they're all underfunded and we're going to have to take care of them while they stay in the labor market hurting upward mobility.
Fuck ... my wife and I combine for a decent wage and there's no way I could afford a home if we didn't start building equity in 2008 after the market crashed.
By Kibner Go To PostThe workforce in the US that missed out on pensions do not, by and large, make enough money to become property owners. As mentioned multiple times, the passive investments (i.e. 401k managed by a separate company) are risky and not particularly efficient.
Fuck ... my wife and I combine for a decent wage and there's no way I could afford a home if we didn't start building equity in 2008 after the market crashed.
By Fenderputty Go To PostOld and busted defecating in the streets it is!That's what you will be if all you rely on is a pension in my country.
By DY_nasty Go To Post"just buy property LUL" got a hearty chuckle out of meWhat land where too. What property. To get any value out of it you need some kind of tenant. Add the stress of being a landlord to your life, what could wrong.
By Random Ass Username Go To PostWhat land where too. What property. To get any value out of it you need some kind of tenant. Add the stress of being a landlord to your life, what could wrong.its just reductive and dismissive all around lol
By DY_nasty Go To Postimagine using your retirement savings to start a business. i mean MAYBE if the goal is go all or nothing on insurance fraud before you dig into the bucket list heavily lolSorry I meant to say you will want to have done that before you reach retirement age.
at that point, why the fuck not
By Random Ass Username Go To PostYou are frankly a dumbfuck.Are we just allowing people to throw around insults? Inquiring minds need answers.
"Just buy more money."
Whew.
Even if I take this at face value here you are with "land never depreciates."
Why do you think Nic Cage is doing a fuckton of movies.
By Lunatic Go To PostThat's what you will be if all you rely on is a pension in my country.
Nobody even considers Cayman a real country. Can you stop it? You guys are a fucking tax haven doubling up as an industrialized version of a vacation resort town. That's all you guys are, a population of less than a hundred thousand, trying to pass off as a real country, when you're just a poor man's Monaco. They will drop you in the sea when you end up old and busted before they let you buy any property you're not meant to be owning. Unbelievable.
By Lunatic Go To PostSorry I meant to say you will want to have done that before you reach retirement age.
Most people don't have it in them to start a business, never mind the fact that most businesses fail. Most of us do have to be content with working for somebody else.
By Lunatic Go To PostSorry I meant to say you will want to have done that before you reach retirement age.i can't tell if you're regurgitating what works out there or if you actually believe people can so easily just buy money
if you want to approach small business ownership, you have to admit right off the bat that its not something that the average full time employee is able to entertain while keeping his job. and even then, small business loans? lol what in tarnation
this can go in a lot of directions im just not sure you're really understanding how you sound right now
By Smoke Dogg Go To PostNobody even considers Cayman a real country. Can you stop it? You guys are a fucking tax haven doubling up as an industrialized version of a vacation resort town. That's all you guys are, a population of less than a hundred thousand, trying to pass off as a real country, when you're just a poor man's Monaco. They will drop you in the sea when you end up old and busted before they let you buy any property you're not meant to be owning. Unbelievable.Whoa dude chill out.
By Smoke Dogg Go To PostNobody even considers Cayman a real country. Can you stop it? You guys are a fucking tax haven doubling up as an industrialized version of a vacation resort town. That's all you guys are, a population of less than a hundred thousand, trying to pass off as a real country, when you're just a poor man's Monaco. They will drop you in the sea when you end up old and busted before they let you buy any property you're not meant to be owning. Unbelievable.lmfao im jus sayin let me talk out my ass real quick with the short version of the short version everyone else gives me
I've seen being a landlord. No thanks. Especially if the tenants got lots of protections. Tenants should but you'll get that one asshole who abuses the whole "can't throw me out for being a shitheel."
By Lunatic Go To PostThat's what you will be if all you rely on is a pension in my country.
Some of this is definitely where you live and a pension may still need to be supplanted by a 401K here, but our elderly being underfunded is a direct result of this responsibility being pushed off onto folks weekly paychecks. I mean look at this shit
https://www.investopedia.com/articles/personal-finance/011216/average-retirement-savings-age-2016.asp
Fiftysomethings
If you're in your 50s, you're nearing retirement age but still have time to save. You also might be paying your children's college tuition, helping with car payments, gasoline and any number of other expenses. The house may be getting older and need fixing up, and your medical bills are almost certainly rising.
The estimated median savings of fiftysomethings is about $117,000 – far shy of the desirable six to eight times annual income that Fidelity recommends.
If you are over 50, you can contribute an extra $1,000 a year to your IRA and an extra $6,000 a year to your 401(k) or 403(b) in what is known as a catch-up contribution. Besides taking advantage of catch-up contributions, consider downsizing by selling your home and collecting any appreciated value. If you have company stock options or other assets, don’t forget to consider those as part of your retirement balance, even if they don’t sit in a retirement account. Consider meeting with a financial planner, especially one who specializes in retirement, to get things in order.
Sixtysomethings
This is typically the decade when you begin to reap the rewards of decades of saving. By the time you reach 60, you should have eight times your annual salary saved, according to Fidelity, while those who are 67 should have 10 times their salary saved.
Unfortunately, Transamerica reports the estimated median savings for sixtysomethings is $172,000. At this point, it’s harder to save enough to make up for any shortfall. If you are behind on your savings, take a hard look at your assets and see what can be monetized at some point to help sustain you.
This is also the decade you can start receiving Social Security benefits. Most seniors find this to be a significant source of monthly income. The average monthly benefit for a retired worker in 2018 is $1,413 per month.
By DY_nasty Go To Posti can't tell if you're regurgitating what works out there or if you actually believe people can so easily just buy moneyApparently not judging by the amount of insults being thrown my way.
if you want to approach small business ownership, you have to admit right off the bat that its not something that the average full time employee is able to entertain while keeping his job. and even then, small business loans? lol what in tarnation
this can go in a lot of directions im just not sure you're really understanding how you sound right now
I do concede to you point of small business ownership not being for everyone. But it's your best bet at being fully self sufficient. Also don't they give out loans in the US that are earmarked for certain groups of the economically disadvantaged?
By Lunatic Go To PostApparently not judging by the amount of insults being thrown my way.i'm not gonna pretend that your statements are not worth insult and extreme cackling breh i'm sorry lol
I do concede to you point of small business ownership not being for everyone. But it's your best bet at being fully self sufficient. Also don't they give out loans in the US that are earmarked for certain groups of the economically disadvantaged?
some of this stuff is actually that bad in case you didn't know. its cool tho everyone's been wrong af before you'll be aite
You applied your own very specific circumstances to basically saying everybody else (living in a different country, no less) is an idiot for contributing to their pension system instead of simply doing as you do.
Have to expect to be shat on tbh
Have to expect to be shat on tbh
By Fenderputty Go To PostSome of this is definitely where you live and a pension may still need to be supplanted by a 401K here, but our elderly being underfunded is a direct result of this responsibility being pushed off onto folks weekly paychecks. I mean look at this shitI agree that I'm definitely talking from my own experience in my country. I honestly don't have a full picture of how things work in the US so in my ignorance the things I'm saying may come off incorrect as it pertains to the US.
https://www.investopedia.com/articles/personal-finance/011216/average-retirement-savings-age-2016.asp
