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5 replies
  1. LostInThe0zone
    LostInThe0zone says:

    I watched Devin Carroll's video on Social security taxes last night. One piece of information that jumped out at me was that over 60% of SS recipients have to pay taxes on that income. The implication being that at least that many people have additional sources of income. And that doesn't include Roth income.
    This does not sound like a crisis.

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  2. LostInThe0zone
    LostInThe0zone says:

    When I was a young man raising a family, my cash flow was such that I struggled to save 3-4% of my income. Once I was finished supporting the kid full time, 20% or more was possible. Statistics can be very misleading.
    These stories from the investment industry are designed to inspire the public to demand laws that force people to take more of their resources and give them over to, guess who, the investment industry.

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  3. VincentDS
    VincentDS says:

    I think there is a retirement crises. Something like 20 percent of workers have access to defined benefit plans versus, compared to probably 40-50 percent 40 years ago. Half the retired population relies almost exclusively on social security for their retirement. Probably, less than 40 percent of the working population contribute to their IRAs and the investments in 401ks and IRAs are usually in the most conservative investments that don't yield enough to retire on. It sounds good to say 'let people be free' and make their own investment decisions, but the majority make poor investment decisions.

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  4. John C
    John C says:

    MANDATE me NOT! There has to be a crisis; otherwise, the chattering class and bureaucrats won't be satisfied. Why should anyone be compelled to do anything by the all-knowing nanny state? I've been living through crises since I was in elementary school. Heck, I remember the "Berlin Crisis" of 1961… and it's been one crisis after the next ever since. Unless the government can organize you and direct you, they aren't happy. If someone doesn't save for retirement, it's that person's responsibility, not mine or the government's. The U.S.A. didn't grow powerful on "mandates," "individual" or otherwise. Thanks for the video!

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