dieseldiva
Veteran Expediter
I have a better idea, why not "overhaul" the retirement plans of congress and the president.....
STORY HERE
STORY HERE
Overhauling Military Retirement????
- Thread starter dieseldiva
- Start date
Tennesseahawk
Veteran Expediter
Talk about untouchable!
purgoose10
Veteran Expediter
I don't think they will get away with it. It supposed to save $250 billion over 20yrs. The Demo/ are always looking to lower the military budget. If they do get it through they won't have the military they have now. I wouldn't want the government handling my investments, just think what would happen there.
The Obama admin would like to reduce outlays for military pensions. Given the choice of privatizing soldiers' pensions or privatizing Social Security pensions, the Democrats prefer soldiers take the hit.
Under the current military pension structure, soldiers draw half their pay after 20 years service. This is a defined benefit program which involves no guesswork and no exposure to market fluctuations. There is a time coming soon when all federally guaranteed pensions( Social Security, Veterans, etc) will face major reforms. It cannot be avoided as we have promised too much to too many for too long.
I expect to work until age 70 or 75. Anyone else?
Under the current military pension structure, soldiers draw half their pay after 20 years service. This is a defined benefit program which involves no guesswork and no exposure to market fluctuations. There is a time coming soon when all federally guaranteed pensions( Social Security, Veterans, etc) will face major reforms. It cannot be avoided as we have promised too much to too many for too long.
I expect to work until age 70 or 75. Anyone else?
Planning to retire young, huh? I'll be doing the same. I'm the wrong demographic to get any assistance to do otherwise.
dieseldiva
Veteran Expediter
I understand what you're saying but we all know there are many other places they can cut instead of this. As I said in the op, all of capital hill and the administration....ummm....obamacare, etc. The point is, find another way, as purgoose said, they won't have the military they have now but when you think of the destructive policies of this administration, maybe that's the point!
Certainly, military pensions are the very last place I would look to make cuts. Just got off the phone with my son whom I asked about military pay while stationed in Afghanistan. He estimated the average unmarried Marine draws about $3500 monthly while deployed to a combat zone and about $1600 monthly while in the States. Whether deployed or stateside, they put in unbelievably grueling hours and take risks on our behalf. Military pensions should remain sacrosanct. Cut everything else first.
purgoose10
Veteran Expediter
Yes that's right but, It's who manages your 401 is the key. I wonder what kindof panel the government would put that in charge of.
paullud
Veteran Expediter
And your point is??? Look at the ROI for SS compared to the ROI for a 401k, the stock market makes people lots of money but there is a chance you can put in $250k that grows to $1 million but later it drops to $850k, you are still ahead and the investments can still come back. It is a lack of understanding that the stock market goes up and down in value just like anything else but it is the best ROI for retirement accounts and much better than the chumps that fall for the invest in gold garbage.
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clcooper
Expert Expediter
yep you put that 250,000 in today how much will you have . and is that how they are putting in or is it so much each week
i had 40,000 in the market it went down to 7,000 and it is the whole way up to 9,000 now and that 40,000 was my money. not what i made on the market
i was takeing the intrest out on that 40,000. so where did that money go to .
much better than the chumps that fall for the invest in ROI for retirement accounts
all i got to say so glad you believe that the people one wall street are harder workers then you are . even smarter because they got you to believe in their scam . i bet used car salesmen love seeing you walk on their lot.
AND THE POINT IS KEEP THE WORKING MAN POOR HE WILL WORK FOR YOU EVERYDAY
what is going on in the stock market doesnt have anything to do with trucking and just like what is going on in trucking doesnt have anything to do with what is going on in the schools .
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paullud
Veteran Expediter
Well that was your poor choice of a broker and even worse was the financial decision to take money from the $40k, that interest should have been invested. The market had very little to do with your issue other than it went down as it should have during poor economic times, you are just jumping on the blame Wall Street bandwagon instead of accepting the obvious. A lot of the people working on Wall Street are smarter than I am in certain subjects and financial matters are likely to be one of them. The real scam artists are the ones convincing people to buy gold as an investment.
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tbubster
Seasoned Expediter
Just more of the if republicans want to do it its evil and bad.The left screams and hollers that this is what the right wants to do with SS,turn it over to wall street they say its to risky to put peoples retirements in the hands of the evil greedy RICH men of wall street.Yet this is the very thing they want to do with the men and womans retirement of our military.
Many people think dont mess with the elderlys money or you will face a backlash like no other.well for every man or woman in the military there is a whole family that is gonna get upset about this.Sad really that the left belives that the teachers and the state workers retirements should never be touched for anyreason.Yet the men and women who are willing to take a bullet for their freedoms,Well its ok to risk their retirements!
My hope is that one or all of the GOP candidates makes this a front page issue.
Many people think dont mess with the elderlys money or you will face a backlash like no other.well for every man or woman in the military there is a whole family that is gonna get upset about this.Sad really that the left belives that the teachers and the state workers retirements should never be touched for anyreason.Yet the men and women who are willing to take a bullet for their freedoms,Well its ok to risk their retirements!
My hope is that one or all of the GOP candidates makes this a front page issue.
clcooper
Expert Expediter
why are they smarter . do they know how to build a road , fix their own car , how to milk a cow , just because they know how to add and can word things real fancy makes them the smarter ones . so they are worth more .
"" it went down as it should have during poor economic times""
so how should it be ?????
should people that work hard ,not born with a spoon in their month , got to sleep with the boss , they SHOULD be treated like **** . things need to be wrote up so in the end they still lose .
thats right most that are at wall street worked so hard to get there . how many of them SCAMED others to get there and STILL scam.
It's unfortunate you lost money. Although you certainly weren't alone. Historically the Market has aways made money. Especially if you leave it alone. With a smart, trust worthy financial advisor.
My Financial advisor grew up on a farm not far from here. Came out of the service became a welder & mechanic before going To Edward Jones.
You might want to interview some more financial planners.
My Financial advisor grew up on a farm not far from here. Came out of the service became a welder & mechanic before going To Edward Jones.
You might want to interview some more financial planners.
That is the major problem we have today, everyone has an
'instead of". Nothing should be off the table and it all should take a hit,
good pay, In 1966 in bootcamp I drew 32 bucks a month, after 4 years a whopping 300 a month. Things have changed.
paullud
Veteran Expediter
I said they were smarter in some areas, not everything.
The market goes down when times are hard and goes back up when they are good.
You lost out because you either picked a poor broker that WAY under performed in stock picks or you kept spending money from the account like it never decreased, either way it was something you had control of and screwed it up. Look at it this way if you had 1000 shares of company ABC purchased at $40 that is $40k, if the stock then increases to $45/share then your net worth went up $5k. If that same stock then drops to $25/share your net worth just dropped $20k but it only your net worth, you never really lose the money unless you sell at a lower price or have an automatic withdrawal setup that forces a sale. As long as you still have 1000 shares the stock can go to $50/share and you will be up $10k from the original investment. You lost money by what you allowed to happen with your money, it was not greedy old Wall Street. I think to many people just walk into an investor's office, hand them money and think they just sit back and wait for the cash to come rolling in.
The people on Wall Street have worked incredibly hard to get to their positions, they didn't just wake up and get a job. I think there are very few scam artists working on Wall Street, the ponzi schemes are few and far between.
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clcooper
Expert Expediter
and i asked
so why are they worth more money ????
i ask why ???
so it is still my fault it never the ones that control the markets fault .
you still think the soldiers retirement should still go in stocks
so you think grand ma and pa should lose money because they...oh never mind you are to ignert.
because you will say they should of picked a better broker . and there is none that would ever try to scam them . they should of knew better
is that how 401k and mutual funds are done ???? .
oh great one tell me where did that 40,000 go. whose pocket is it now???
so they people that build the roads dont work near as hard . the farmer doesnt work hard either
does the name Martha Stewart ring a bell
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oh that is right some of those sites are truther sites . so right away you know what they say is a lie .
you need to ask What Why When How . and be able to think alittle bit to . remember what has happened in the past .
ask your self was the Mafia true ??
how did they operate ??
how were they able to get away with those crime for so long???
how many crimes have never been found out about yet ??
what type of crimes did they commit ????
greg334
Veteran Expediter
Well the first rule in investing into the stock market that EVERYONE needs to learn is don't invest money that you can not afford to lose.
As for soldiers pension - I do think that any one person deserves anything more than what a citizen should or does have. THIS means that the retirement is and should be in the control of the soldier as it would be in any one who provides them the job they do.
IF this means that the shift is to a 401k/403b style investment program - then it is the same thing that any citizen has the ability to have.