My $8K invested in an IRA that grew so well suffered a loss in 2008 but had recovered and grown to $160K by the June statement. I don't know where it is today but I will let it ride for a while longer. Those in the 1932 crash would have recovered in 4.5 years if they hadn't jumped out the window or taken the loss.
My $8K invested in an IRA that grew so well suffered a loss in 2008 but had recovered and grown to $160K by the June statement. I don't know where it is today but I will let it ride for a while longer. Those in the 1932 crash would have recovered in 4.5 years if they hadn't jumped out the window or taken the loss.
once again, data with no perspective.
$8k total invested and for how long?
so you are betting Obama will improve the economy then?
Getting back to SS, it seems that $1200 per month is considered to be the payout for a single recipient. Actually a Ponzi scheme has no future value as it is not a real investment. Instead it depends upon the number of workers (and the amount) paying in at any given time. In contrast my $8K investment grew enough to purchase an annuity of the same payout. I didn't invest aggressively it was mutual funds that I never touched. Also, I stopped investing in them when the tax advantage went away thus only $8K. At 20 years it was worth $108K and at 30 years $160K, in the same time frame SS was routinely being spent with no growth other than the government paying itself interest as the notes were redeemed.
Getting back to SS, it seems that $1200 per month is considered to be the payout for a single recipient. Actually a Ponzi scheme has no future value as it is not a real investment. Instead it depends upon the number of workers (and the amount) paying in at any given time. In contrast my $8K investment grew enough to purchase an annuity of the same payout. I didn't invest aggressively it was mutual funds that I never touched. Also, I stopped investing in them when the tax advantage went away thus only $8K. At 20 years it was worth $108K and at 30 years $160K, in the same time frame SS was routinely being spent with no growth other than the government paying itself interest as the notes were redeemed.
so an average of 10.5% per year, excellent investment for sure, but to say that is typical and anyone could do that would be absurd. madoff paid what 10% per year and everyone is now screaming that people should have known that was a scam....
so an average of 10.5% per year, excellent investment for sure, but to say that is typical and anyone could do that would be absurd. madoff paid what 10% per year and everyone is now screaming that people should have known that was a scam....
Did you miss the point? It had nothing to do with Bernie, a simple IRA with an $8K investment offers as much return as SS with no burden to taxpayers (and no Ponzi scheme).
Did you miss the point? It had nothing to do with Bernie, a simple IRA with an $8K investment offers as much return as SS with no burden to taxpayers (and no Ponzi scheme).
no, the point is that it generally DOES NOT, you got lucky, a 10% yearly return average is quite phenomenal and can't be expected, generally returns are much closer to 6%. just because it happened to work for you at that point in time with that investment in no way proves that anyone anytime can do the same. besides you miss the whole point in what social security is all about, a safety net, what if the markets had tumbled and it had become worthless? etc... that is what social security is there for, to ensure people aren't living on the streets as beggars once they get old.
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