Social Security and Medicare are Your Biggest Assets [Archive] - Glock Talk

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certifiedfunds
04-26-2013, 09:21
http://www.marketwatch.com/story/your-biggest-assets-are-social-security-medicare-2013-04-26?link=MW_story_popular

:rofl:

Atlas
04-26-2013, 09:27
"assets"..

"resources that are owned socially.."

"..some analysts have tried to put a dollar figure on our social wealth"


:rofl:


Rex Nutting, you are an idiot.

.

Dennis in MA
04-26-2013, 09:29
Social programs that are nothing more than a promise for future payment an asset???

Can I call JG Wentworth and get a lump sum on that today??? I'll even pull the opera thing if it helps.

ChuteTheMall
04-26-2013, 09:32
Lemme go thru my lifetime of W2 forms and check, but I've always considered them my liabilities.

:upeyes:

certifiedfunds
04-26-2013, 09:50
Scary that there is a large contingency of voters who actually believe this stuff.

Nevermind that the consolation of having social security when one retires is what allows so many people to put themselves in the financial position shown in the article.

it truly is an evil program

Atlas
04-26-2013, 09:52
...
it truly is an evil program


Any socialism, in whatever form or degree is evil..
and stupid.



.

kirgi08
04-26-2013, 09:56
:popcorn:

Not a chance CF.'08.

Naelbis
04-26-2013, 09:58
A roughly $1600 a month check when I am an old enough to "retire" (if the program is still afloat then) versus the roughly 500-800k I would likely have if that money was invested over the same working period? I don't think that qualifies as an asset for me.

tarpleyg
04-26-2013, 10:07
A roughly $1600 a month check when I am an old enough to "retire" (if the program is still afloat then) versus the roughly 500-800k I would likely have if that money was invested over the same working period? I don't think that qualifies as an asset for me.

Yeah, but don't you know that we have to make sure that the people not smart enough to do that have SOMETHING when they retire?

Atlas
04-26-2013, 10:11
Yeah, but don't you know that we have to make sure that the people not smart enough to do that have SOMETHING when they retire?


Who is this "we" you speak of?

DaleGribble
04-26-2013, 10:34
A roughly $1600 a month check when I am an old enough to "retire" (if the program is still afloat then) versus the roughly 500-800k I would likely have if that money was invested over the same working period? I don't think that qualifies as an asset for me.

I hear ya but you're wrong.

I didn't earn enough or invest enough to retire with your "500-800k" windfall so I DESERVE some of your share.

That's why S.S. and Medicare will remain in place as long as the printing presses have electricity to power them.

GIockGuy24
04-26-2013, 11:39
Medicare is part of Social Security. I haven't worked in the US enough to pay enough quarters into SS to qualify for SS benefits which includes Medicare part A. Part A Medicare can be bought separately, which makes health insurance and health care cheaper but I'm trying to figure out how to pay into SS enough additional quarters to qualify for benefits including Medicare part A.

cowboy1964
04-26-2013, 12:26
Can I borrow against my SS and Medicare "assets" like I can my 401k? That would be nice. Oh, I'll pay it back. *Wink*

certifiedfunds
04-26-2013, 12:30
Medicare is part of Social Security. I haven't worked in the US enough to pay enough quarters into SS to qualify for SS benefits which includes Medicare part A. Part A Medicare can be bought separately, which makes health insurance and health care cheaper but I'm trying to figure out how to pay into SS enough additional quarters to qualify for benefits including Medicare part A.

Oh yeah man, get you some of that good stuff!

certifiedfunds
04-26-2013, 12:31
Can I borrow against my SS and Medicare "assets" like I can my 401k? That would be nice. Oh, I'll pay it back. *Wink*

Now, now, now, in thread after thread the GT boomer neocon braintrust (GTBNB) has told us that they're only collecting their own money back.

CAcop
04-26-2013, 12:49
http://media.tumblr.com/tumblr_lrq5kmwVOp1qfff9p.gif

Flying-Dutchman
04-26-2013, 13:36
Notice home equity is by far the largest asset for most retirees proving real estate is the best investment.

SS and Medicare; the numbers just do not add up and the author must know this.

Atlas
04-26-2013, 13:40
..
SS and Medicare; the numbers just do not add up and the author must know this.

The author of that article is clearly a total moron.
I doubt he knows much of anything about anything at all.



.

certifiedfunds
04-26-2013, 13:46
Notice home equity is by far the largest asset for most retirees proving real estate is the best investment.

SS and Medicare; the numbers just do not add up and the author must know this.

I don't think it really shows that at all. It's simply the only investment the average American is disciplined enough to make consistently so that they don't lose shelter.

it also doesn't show the expenses associated with home ownership, nor the opportunity cost on that money.

JohnBT
04-26-2013, 15:14
"opportunity cost"

I figure buying my house saved me a great deal of money. Instead of putting $9k down on a $41k house in 1/80 and taking a conventional 30-year mortgage at 12.75%, I could have kept renting and plowed my cash into silver at $49.45/oz.

That's what people were saying through the late '70s and into 1980, "BUY SILVER."

John

certifiedfunds
04-26-2013, 16:35
"opportunity cost"

I figure buying my house saved me a great deal of money. Instead of putting $9k down on a $41k house in 1/80 and taking a conventional 30-year mortgage at 12.75%, I could have kept renting and plowed my cash into silver at $49.45/oz.

That's what people were saying through the late '70s and into 1980, "BUY SILVER."

John

I said opportunity costs and expenses. When people quote appreciation numbers they always ignore the costs associated with owning that house. Insurance, maintenance, repair, taxes, renovation, etc.

And you could have bought into the bottom of the greatest bull market in history.

Lots of people also end up with much more house than they need while that equity is tied up. Many people will never enjoy the fruits of that appreciation until they move into the nursing home

Just sayin


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exmdshooter
04-26-2013, 16:43
If empty promises made by a corrupt and bankrupt government are my "Biggest Assets" then I'm in deep doo-doo.

kirbinster
04-26-2013, 16:45
Social security and medicare are not assets, they are empty promises. Even if they were assets, they would be very far down the list as far as being my largest. I would gladly just take whatever the net present value is of those promises might be valued at today and agree to never make use of them.

certifiedfunds
04-26-2013, 16:48
Social security and medicare are not assets, they are empty promises. Even if they were assets, they would be very far down the list as far as being my largest. I would gladly just take whatever the net present value is of those promises might be valued at today and agree to never make use of them.

Net present value is zero. That's what's funny


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Dennis in MA
04-26-2013, 17:57
A roughly $1600 a month check when I am an old enough to "retire" (if the program is still afloat then) versus the roughly 500-800k I would likely have if that money was invested over the same working period? I don't think that qualifies as an asset for me.

Actually, it's probably only $400k. SSI is inflation indexed, so those years years ago you weren't contributing as much as you are now, and vice versa.

Who is this "we" you speak of?

The people who don't want an outright lazy-people's revolt. Although they ARE lazy. Maybe they'll forget to revolt. Lol

Now, now, now, in thread after thread the GT boomer neocon braintrust (GTBNB) has told us that they're only collecting their own money back.

I have clients tell me that all the time. Then I remind them of the 60's and 70's when they contributed a fraction of current taxes. Today's retirees are reaping an investment fortune in SSI and we are paying for it. :(

JW1178
04-26-2013, 18:46
Either they are stupid or they think we are.

The amount of money they take compared to what you get makes it a fraud. The whole SS idea was a cheap loan idea from the government. It's like the bank holding your money until the check clears. What is this, 1920? It's all electronic, checks don't have to be "cleared", but they make billions on that money while it's on hold. The only time a physical check/recipt ever goes any further than where you deposit it is when there is a dispute.

JohnBT
04-26-2013, 19:23
"And you could have bought into the bottom of the greatest bull market in history."

Don't worry, I did. That's why I bought a cheap house in a historic district - so I could keep investing in stocks. I started buying stock in 1970. That's how I paid cash for grad school in '72-'73.

Do you really believe everybody is dumb but you? Well stop acting like it.

A house across the street just sold for $330k. Not bad for 1350 sq.ft. on a 25' x 100' lot.

certifiedfunds
04-26-2013, 21:07
"And you could have bought into the bottom of the greatest bull market in history."

Don't worry, I did. That's why I bought a cheap house in a historic district - so I could keep investing in stocks. I started buying stock in 1970. That's how I paid cash for grad school in '72-'73.

Do you really believe everybody is dumb but you? Well stop acting like it.

A house across the street just sold for $330k. Not bad for 1350 sq.ft. on a 25' x 100' lot.

1350sqf on a tiny lot for $330k. Not sure where this is but it makes me curious about property taxes there.

It appears you are looking for an argument where there isn't one. I don't know why. My post was in response to someone who stated that the article PROVES that real estate is the best investment based on home values for retirees. In deciding how good an investment is there are many more factors to consider than the final selling price, as you well know.

With real estate everyone likes to throw out what they paid for the house in x year and what they sold it for in y year. There is much more to the story than that. Often when you break it down, having the lionshare of one's assets in a home is a poor investment on many levels.

But yeah, there are a lot of dumb people in the world.

Shinytop
04-27-2013, 00:01
As long as you big earners keep going I know I can count on ss and retirement check keep coming every month. Thank you.

certifiedfunds
04-27-2013, 19:20
As long as you big earners keep going I know I can count on ss and retirement check keep coming every month. Thank you.

Amazing how you can talk with that teat in your mouth


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Patchman
04-27-2013, 20:23
"And you could have bought into the bottom of the greatest bull market in history."

Don't worry, I did. That's why I bought a cheap house in a historic district - so I could keep investing in stocks. I started buying stock in 1970. That's how I paid cash for grad school in '72-'73.

A house across the street just sold for $330k. Not bad for 1350 sq.ft. on a 25' x 100' lot.

I bought mutual funds starting in the early 1980s. The 1980s and 1990s were great times for the market! My kids' graduate school tuitions will be covered by those investments.

Real estate really is the "best" investment. My parents purchased their house in the early 1970s for $55K. Currently the house is worth (at least) $550K to $650K. Where we're at, houses (2 family houses) purchased in the mid 1980s for $250K are now worth $600K to $700K. One of the 3 family building was today offered $950K (and we're just getting out of the real estate slump).

The only "problem" is, of course, when you need money, you can't just sell one or two room(s) of the house.

Shinytop
04-27-2013, 22:11
My mouth is not at a teat, my hand is in your wallet. Keep working CF, I need your money.

kirgi08
04-28-2013, 02:06
:upeyes: