Greedo 13 Posted July 18, 2011 You got it. My original statement is that people who think they will retire via 401k are in for a rude awakening. Based on my current projections, I will be retiring between age 50 and 51, and at 59 1/2 will be able to withdraw the same amount I make now in future dollars. And that's with a 401k. At 7% average return, which is below the approximately 11-12% return the market has brought, on average, since 1929. In fact, I like my chances better than the government not defaulting on your pension payment. 3. I totally agree that investing in a 401K is better than not investing/saving for retirement at all. That was never my assertion, I was simply supporting LOD's position that people with only 401Ks as their retirement savings/planning vehicle are not leaving the workforce (i.e. retiring) anytime in the forseeable future. I'm not bashing 401Ks specifically. I'm just supporting LOD's view that people with 401Ks are not going to be retiring anytime soon with all of the market instability. I guess 14 years from now isn't soon, but I would add that since March 2008 by 401k balance is up 130%. I only wish I had had a bigger balance. People could easily be retiring soon with that kind of return. Yet another year and 1/2 and 401k's have done jack ######. No retirement for you. Another article shows that you will die while still working. Sucks huh? I repeat - my 401k is up 130% since March 2008. No one has to die while working. The problem is, most Americans spend too much, don't save enough, and in general make lots of stupid financial decisions. THAT is why most of them will die while still working. Share this post Link to post Share on other sites
LOD01 199 Posted July 19, 2011 Based on my current projections, I will be retiring between age 50 and 51, and at 59 1/2 will be able to withdraw the same amount I make now in future dollars. And that's with a 401k. At 7% average return, which is below the approximately 11-12% return the market has brought, on average, since 1929. In fact, I like my chances better than the government not defaulting on your pension payment. I guess 14 years from now isn't soon, but I would add that since March 2008 by 401k balance is up 130%. I only wish I had had a bigger balance. People could easily be retiring soon with that kind of return. I repeat - my 401k is up 130% since March 2008. No one has to die while working. The problem is, most Americans spend too much, don't save enough, and in general make lots of stupid financial decisions. THAT is why most of them will die while still working. I remember being sold tha bill of goods back in the 80's and 90s'. Anyone with large sums in a 401k in 200, made zippo. Google the lost decade. You may have missed it because you didn't have a lot of $ yet in a 401k but your turn will come. I love how you are figuring your future $ based on the perfect scenario. Share this post Link to post Share on other sites
Bert 1,128 Posted July 19, 2011 I remember being sold tha bill of goods back in the 80's and 90s'. Anyone with large sums in a 401k in 200, made zippo. Google the lost decade. You may have missed it because you didn't have a lot of $ yet in a 401k but your turn will come. I love how you are figuring your future $ based on the perfect scenario. I guess the 401K you had in the 80's and 90's didn't contain a company match. Share this post Link to post Share on other sites
KSB2424 3,173 Posted July 19, 2011 I guess the 401K you had in the 80's and 90's didn't contain a company match. If I remember correctly this dude works/worked for the government and has some ridiculous guaranteed pension that he didn't even pay into himself. So he makes fun of the private sector and 401(k)'s and ROTH IRA's and the like. What this schmoe doesn't get is that a main reason this country is in the shitter is because of his ridiculous pension's (that nobody else can get in the private sector) paid for by taxpayers. Share this post Link to post Share on other sites
Bert 1,128 Posted July 19, 2011 If I remember correctly this dude works/worked for the government and has some ridiculous guaranteed pension that he didn't even pay into himself. So he makes fun of the private sector and 401(k)'s and ROTH IRA's and the like. What this schmoe doesn't get is that a main reason this country is in the shitter is because of his ridiculous pension's (that nobody else can get in the private sector) paid for by taxpayers. Yeah I remember. I like getting him worked up. I also think it is funny he never looks at dividends or other distributions made; he only looks at the stock price. Share this post Link to post Share on other sites
Birdseed 1 Posted July 19, 2011 Is everyone still confident that the government isn't going to start defaulting on their pension obligations? I've only added 25% to the my 401k over the last year or so. Still praying I'll be able to retire. Those people sucking off the gubmint teet are going to be in for a rude awakening..... Share this post Link to post Share on other sites
LOD01 199 Posted August 4, 2011 I guess the 401K you had in the 80's and 90's didn't contain a company match. Yeah it did. 100% match and went up like a rocketship until Bush destroyed everything. I took it out to pay down debt since I was on my way to a job with a pension. Best move I ever made. Oh, and birdseed...our plan is the best in the nation. hey KSB2424. Yeaaap. Get this one. you'll love it. You really will. Rickhead (gov) was able to get some bullshit passed where we pay in 3% towards our retirement. You know what we did? We decided the taxpayer will pay that part for us. We still are not paying into the system. Joe taxpayer is. Share this post Link to post Share on other sites
KSB2424 3,173 Posted August 4, 2011 Oh, and birdseed...our plan is the best in the nation. hey KSB2424. Yeaaap. Get this one. you'll love it. You really will. Rickhead (gov) was able to get some bullshit passed where we pay in 3% towards our retirement. You know what we did? We decided the taxpayer will pay that part for us. We still are not paying into the system. Joe taxpayer is. You do realize that it's unionized gov't pension crapola like what you are clapping about that is one of the major contributors to why the country is going down the toilet right? Share this post Link to post Share on other sites
DankNuggs 305 Posted August 4, 2011 Yeah it did. 100% match and went up like a rocketship until Bush destroyed everything. I took it out to pay down debt since I was on my way to a job with a pension. Best move I ever made. Oh, and birdseed...our plan is the best in the nation. hey KSB2424. Yeaaap. Get this one. you'll love it. You really will. Rickhead (gov) was able to get some bullshit passed where we pay in 3% towards our retirement. You know what we did? We decided the taxpayer will pay that part for us. We still are not paying into the system. Joe taxpayer is. congrats deadbeat... Share this post Link to post Share on other sites
LOD01 199 Posted August 4, 2011 You do realize that it's unionized gov't pension crapola like what you are clapping about that is one of the major contributors to why the country is going down the toilet right? Um... BULLSHIT. You've been fed some ###### by republicans. You gotta be a lemming. The reason the ###### has hit the fan is the greed of wall street and corporate america. Had they not outsourced jobs around the planet to the cheapest 3rd rate country, so as to line their own pocketbooks, we would not be in this mess. It's all about who is last standing. Saw this ###### coming a decade ago. Did you? If you did, you would be on the gravy train watching the private sector melt down first. Last standing will be those that are required. That's me. thanks darknuggs. You pay my retirement. Share this post Link to post Share on other sites
redtodd 7 Posted August 4, 2011 Yeah it did. 100% match and went up like a rocketship until Bush destroyed everything. I took it out to pay down debt since I was on my way to a job with a pension. Best move I ever made. Oh, and birdseed...our plan is the best in the nation. hey KSB2424. Yeaaap. Get this one. you'll love it. You really will. Rickhead (gov) was able to get some bullshit passed where we pay in 3% towards our retirement. You know what we did? We decided the taxpayer will pay that part for us. We still are not paying into the system. Joe taxpayer is. Yeah, building up so much debt that you yank out retirement money to pay for it. Brilliant. Share this post Link to post Share on other sites
Phurfur 70 Posted August 4, 2011 Yeah it did. 100% match and went up like a rocketship until Bush destroyed everything. I'm curious, how did Bush destroy everything? and please be specific. Share this post Link to post Share on other sites
Phurfur 70 Posted August 4, 2011 Um... BULLSHIT. You've been fed some ###### by republicans. You gotta be a lemming. The reason the ###### has hit the fan is the greed of wall street and corporate america. Had they not outsourced jobs around the planet to the cheapest 3rd rate country, so as to line their own pocketbooks, we would not be in this mess. It's all about who is last standing. Saw this ###### coming a decade ago. Did you? If you did, you would be on the gravy train watching the private sector melt down first. Last standing will be those that are required. That's me. thanks darknuggs. You pay my retirement. Yes it is bull. Us government retirees are hurting big time we need better pensions and free health care. Keep up the fight! Share this post Link to post Share on other sites
LOD01 199 Posted August 4, 2011 Yeah, building up so much debt that you yank out retirement money to pay for it. Brilliant. Obviously you are a moron. Had I left that $ in there, you know how much would be in there. One helluva lot less, ZERO gains over the las, now 11 years. Even AFTER the penalty I paid it was the correct move. Share this post Link to post Share on other sites
LOD01 199 Posted August 4, 2011 I'm curious, how did Bush destroy everything? and please be specific. I'll just start with the stock market and the worst performance since the great depression. During his 8 years, you made jack ###### in your 401k. Before they came up with the 'lost decade' I had already coined the phrase. You get to work an extra 10 years because your 401k 'gains' for 10 years are nothing. Saw the housing bubble that Bush allowed to happen via Greenspan. Sold my house for 3x it's true value which it is now back at. I have one of the few homes in the country that is actually still worth more now than when I built it in 2003. How is that? Becasue I know what I am ###### doing. Share this post Link to post Share on other sites
drobeski 3,061 Posted August 4, 2011 Hey look another talentless union dirtbag ...too dumb and scared to make it on his own..being a corrupt scumbag....nothing to see here.... Share this post Link to post Share on other sites
LOD01 199 Posted August 4, 2011 Yes it is bull. Us government retirees are hurting big time we need better pensions and free health care. Keep up the fight! Everyone had the same opportunity to join the winning team. Share this post Link to post Share on other sites
LOD01 199 Posted August 4, 2011 Hey look another talentless union dirtbag ...too dumb and scared to make it on his own..being a corrupt scumbag....nothing to see here.... Union? MWAHAHAHHAHAA. Try genius IT guy. Yes, I am infinitely smarter than you. How's your 401k looking these days? Not...too...good. I warned you all. Share this post Link to post Share on other sites
KSB2424 3,173 Posted August 4, 2011 This reminds me of the guy who's accepting unemployment while traveling and playing golf every day for a damn year and never sent out the first resume'. So you beat the system. Congrat - u - focking - lations. 'Gov't worker guy' who recieved pension benefits that are unsustainable by the gov't and helping states go broke is rubbing it in the face of the tax payers that pay his pension. You can't make this stuff up. Share this post Link to post Share on other sites
BLS 314 Posted August 4, 2011 I'll just start with the stock market and the worst performance since the great depression. During his 8 years, you made jack ###### in your 401k. Before they came up with the 'lost decade' I had already coined the phrase. You get to work an extra 10 years because your 401k 'gains' for 10 years are nothing. Saw the housing bubble that Bush allowed to happen via Greenspan. Sold my house for 3x it's true value which it is now back at. I have one of the few homes in the country that is actually still worth more now than when I built it in 2003. How is that? Becasue I know what I am ###### doing. I'm calling bullsh1t on the last paragraph. Share this post Link to post Share on other sites
DankNuggs 305 Posted August 4, 2011 I'll just start with the stock market and the worst performance since the great depression. During his 8 years, you made jack ###### in your 401k. Before they came up with the 'lost decade' I had already coined the phrase. You get to work an extra 10 years because your 401k 'gains' for 10 years are nothing. Saw the housing bubble that Bush allowed to happen via Greenspan. Sold my house for 3x it's true value which it is now back at. I have one of the few homes in the country that is actually still worth more now than when I built it in 2003. How is that? Becasue I know what I am ###### doing. LOL, gotta love govt hacks that think they are smart...LOL.... LOL at 'true value' you have no clue what the notion of value is... Congrats on you and your degenerate 'ilk' for gaming the system... Your existance is counterproductive to the prosperity of this country. You contribute very little, take very much and define the term mediocrity in high fashion... If you were actually smart you would have been in the private sector, where intelligence is compensated. You chose public section, where ignorance and incompetance is coddled and breast-fed. Friggin' Parasites.... This is the entitlement culture in a nutshell and why it needs to end... Hopefully this dirtbag isn't outmanuvered by other dirtbags all trying to lock in their unfunded pensions... The pie for scumbags is going to be getting MUCH smaller... Share this post Link to post Share on other sites
DankNuggs 305 Posted August 4, 2011 Union? MWAHAHAHHAHAA. Try genius IT guy. Yes, I am infinitely smarter than you. How's your 401k looking these days? Not...too...good. I warned you all. LOL... IT... figures. Share this post Link to post Share on other sites
NorthernVike 2,095 Posted August 4, 2011 I hope this shiot keeps dropping. I've got $$$ to invest. Share this post Link to post Share on other sites
Phurfur 70 Posted August 4, 2011 I'll just start with the stock market and the worst performance since the great depression. During his 8 years, you made jack ###### in your 401k. Before they came up with the 'lost decade' I had already coined the phrase. You get to work an extra 10 years because your 401k 'gains' for 10 years are nothing. Saw the housing bubble that Bush allowed to happen via Greenspan. Sold my house for 3x it's true value which it is now back at. I have one of the few homes in the country that is actually still worth more now than when I built it in 2003. How is that? Becasue I know what I am ###### doing. You should be blaming more than one person. HTH Share this post Link to post Share on other sites
SUXBNME 1,594 Posted August 4, 2011 Is LOD01 now the biggest dooshebag at the geek club? Close call. Share this post Link to post Share on other sites
drobeski 3,061 Posted August 4, 2011 Is LOD01 now the biggest dooshebag at the geek club? Close call. Common theme amongst the it crowd Share this post Link to post Share on other sites
nobody 2,883 Posted August 4, 2011 This reminds me of the guy who's accepting unemployment while traveling and playing golf every day for a damn year and never sent out the first resume'. So you beat the system. Congrat - u - focking - lations. 'Gov't worker guy' who recieved pension benefits that are unsustainable by the gov't and helping states go broke is rubbing it in the face of the tax payers that pay his pension. You can't make this stuff up. The funny thing is the genius doesn't realize that if the private sector goes down, it's going to take those government pensions with it. What are they going to pay his pension with? At least he gets to be paid half market value in salary while he's waiting to get shafted when the whole pension ponzi scheme he's in comes crashing down. Share this post Link to post Share on other sites
Recliner Pilot 61 Posted August 5, 2011 I'll just start with the stock market and the worst performance since the great depression. During his 8 years, you made jack ###### in your 401k. Wouldn't it be a good thing for someone's 401K with company matches to spend a decade buying low for the huge boom in the DOW that Obama's Hope and Change will bring? Share this post Link to post Share on other sites
LOD01 199 Posted August 8, 2011 LOL... IT... figures. When your done eating, remember to pull the spoon out of your ass. Share this post Link to post Share on other sites
LOD01 199 Posted August 8, 2011 I'm calling bullsh1t on the last paragraph. Call it all you want, loser. Share this post Link to post Share on other sites
LOD01 199 Posted August 8, 2011 LOL, gotta love govt hacks that think they are smart...LOL.... LOL at 'true value' you have no clue what the notion of value is... Congrats on you and your degenerate 'ilk' for gaming the system... Your existance is counterproductive to the prosperity of this country. You contribute very little, take very much and define the term mediocrity in high fashion... If you were actually smart you would have been in the private sector, where intelligence is compensated. You chose public section, where ignorance and incompetance is coddled and breast-fed. Friggin' Parasites.... This is the entitlement culture in a nutshell and why it needs to end... Hopefully this dirtbag isn't outmanuvered by other dirtbags all trying to lock in their unfunded pensions... The pie for scumbags is going to be getting MUCH smaller... Lube up for your 401k buttfucking you are about to receive Monday. I'll still receive the same pension that you are funding. You know what? Ther ain't jack ###### you can doo about it. We take your $ and put it into my account. Share this post Link to post Share on other sites
RLLD 4,275 Posted August 8, 2011 Wouldn't it be a good thing for someone's 401K with company matches to spend a decade buying low for the huge boom in the DOW that Obama's Hope and Change will bring? Yes, so long as it ever returns or grows again. You may not recall but I once noted that at $18 Countrywide should be sold off as fast as you can, and there was some retard posting here....evil number maybe?....who said it was instead the time to buy and I need to go back to school to know how to value a company, countrywide then fell to about $6 a share, and was bought by BOA..... Knowing whether or not something is actually legit helps, and everything has an expiration date, even the USA will eventually fail and fall just like every empire before it. Share this post Link to post Share on other sites
Recliner Pilot 61 Posted August 8, 2011 We should setup some kind of wager to see who can guess which day it falls below 11k, and then after that when it falls below 10k as well Aaaaah, the good ol' days when the DOW was over 11k. Share this post Link to post Share on other sites
