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Canuck57[_9_]

On 18/04/2010 9:40 AM, wrote:
On Sun, 18 Apr 2010 08:19:19 -0400, wrote:

On Sun, 18 Apr 2010 01:10:22 -0400, wrote:

On Sat, 17 Apr 2010 22:46:39 -0400, wrote:

americans are the hardest working people in the western world. we work
200 hours more than europeans and japanese.

Yet the Europeans save about 3 times as much as Americans
You said you were working 60 hour weeks. That is 175% of your base
salary and you didn't think you should be saving some of that?

i'm salaried. i dont overtime

and you have the density of a black hole. i've been saving in my 401K
since congress created it 30 years ago.

it's now worth what it was 10 years ago. i should have spent it on
whores and booze like john paulson did when he looted goldman sachs
for a billion

yet in your mind he's a hero because he's rich, and i'm an idiot
because i'm a hard working middle class guy

shows what moral values the right has

You probably make more money than I ever did. You just spend a higher
percentage of it.
A 401k is not savings, it is, at best, a substitute pension plan, at
worst a Ponzi scheme. I predict that when the boomers start drawing
down their 401ks the market will crash again. (and I seem to be pretty
good at predicting market crashes, certainly better than your 401k
manager)

401K/IRA are not ponzi. Perhaps what you direct them to invest in is.
Move your vested part of a 401K to a self directed IRA, much more
flexable than most of the company sponsored junk. But you do need to
learn to manage it yourself.

But one way or another, you better save for retirement or be prepared to
be a 65 year old bum. You can't live on social security alone.

--
Time to ask, is our government serving us or are we serving the government?