Opt out of social security?

Discussion in 'Financial Cents' started by oil pan 4, Dec 29, 2016.

  1. arleigh

    arleigh Goophy monkey

    If you are wise you will do both invest in SS and in retirement options.
    During the 1929 crash My grand father had money in every bank in Chicago . He knew some loss was inevitable so he didn't keep all his eggs in one basket .
    We do it with stock piling food and other needs that eventually the price will go up on , it has paid off for me so many times i've lost count.
    The dollar will always deteriorate it's a fact of life .
    Things you can store that need special care are one thing but hard goods that are valued need storage as well .
    When I go the the hard where store and need screws I get several boxes in varying sizes ,it saves a trip which is money and wear and tear against my vehicles, not to mention the price of gas.
    Using a credit card that only a minimum payment against a product bought on sale is no bargain ,it's a loss reverse bargain and the bank wins big time on these kind of sales .
    Life is not fair and dreaming of living a long time is most peoples pipe dream .
    The way I figure it , my kids will have all that I have put away for their own survival so nothing goes to waste.
    Though they may not appreciate it now ,if they are doing fine, the day will come ,if they have been prudent , that it will become of great value .
    As for SS A surviving spouse should be able to collect .
  2. Ganado

    Ganado Monkey+++

    Wait for it..... they will start onfiscsting 401k,s soon.
    chimo and VisuTrac like this.
  3. oil pan 4

    oil pan 4 Monkey+++

    2015 tax return had all kinds of questions about your 401k.
    Things such as "how many do you have?", "where is it?", "how much is in it?", "how much did it make in 2015?".
    You will only be able to lie about it for so long.
    Kind of like health care coverage.
    I'm thinking about taking the penalty and just cashing out while I still can before some useful idiot starts saying something like "you can still keep your old 401k" while they pass a bill that they dont even know whats in it and will completely change every aspect of your 401k.
    Last edited: Jan 3, 2017
  4. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    Nah, they won't confiscate them yet. Wait until they force everyone to put in any extra cash they have in the 401k.. for example incentivizing a 1 dollar for 3 match. People will eagerly pull the money out of the mattress and shove it in the 'investment' vehicle to get the 3x instant return. Then, once they've locked up all the float cash, they'll mandate you put in xx% of your income, then they will limit your choices to gov't backed investments at the same time stiffening the penalty to include principle and earnings losses for early withdraw and raising the minimum age to withdraw to 72, at the same time swap the underlying securities for zero interest IOU's.

    The final nail would be to demonetize the 100's, 50's and 20's to penalize those that didn't buy into the scheme for monetary domination by the government.

    Well, If I were evil, that's how I'd do it.
  5. oil pan 4

    oil pan 4 Monkey+++

    More like 92.
  6. chimo

    chimo the few, the proud, the jarhead monkey crowd

    Yup...and your little MYRAs too!

    Don't have to lie...never had a 401k, don't want one.
    Last edited: Jan 4, 2017
  7. oil pan 4

    oil pan 4 Monkey+++

    The democrats never did see a pile of other peoples money that they couldn't leave alone.
    They are like some kind of modern day cocaine addicted Robin hood. They say that they are going to steel from the rich and give to the poor, but just keep it for them selves.
  8. ghrit

    ghrit Bad company Administrator Founding Member

    That's because they consider themselves poor, or at least deprived. (And of course, charity begins at home.)
  9. chimo

    chimo the few, the proud, the jarhead monkey crowd

    To be fair, Republicans are no better. The disease stems from statism, and the notion that the State must be the supreme answer to all of our problems, real or imagined.
    Homer Simpson, VisuTrac and TnAndy like this.
  10. Idahoser

    Idahoser Monkey+++ Founding Member

    the government will not know what you do.
  11. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    Ah, 72 will work. Once the peasants have no money for better food, shelter, medical care and have to rely upon the state .. the longevity of the population should drop substantially and be below this threshold. ;)
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