Subj : Re: What for?
To   : Aaron Thomas
From : Ron L.
Date : Sat Apr 12 2025 14:56:25

-=> Aaron Thomas wrote to Dr. What <=-

 AT> Most people probably enroll in the 401k plan, and it's great when the
 AT> employer offers to contribute, but people who have low paying jobs
 AT> can't afford it, and they rely on social security.

So here's one of the myths that have been pushed on us for a long time:
There are "the rich" and "the poor" and people stay in those groups.

The reality is that people move in and out of those groups.  Ex: one year my
company (for reasons) gave us huge bonuses (like 50% of our yearly salary
bonuses).  That year, I was "rich".  But then went back to normal middle-class.

I am certainly "rich" compared to what I was making 30 years ago.  But I am now
30 years more experience and educated.  So I more valuable.  But 30 years ago I
would have been in "the poor" category, but now I am probably in "the rich"
category.

My point is that if a person is stuck in a job where they must rely on
Socialist Security for retirement, that's their fault.

 AT> Full time Fidonet echo moderator is a fulfilling, challenging, stable,
 AT> and lucrative career. The pay might not be that great, but it's a great
 AT> resume builder ;)

Ha!

 AT> That makes sense. But if you invest in a CD and you don't cash it out
 AT> early, (and I could be wrong about this) then I think your investment
 AT> is 100% guaranteed to earn the interest that was promised to you.

Yes, some investments are "guaranteed" - but if the financial institution that
sold you the CD goes bankrupt...

But those same investments won't get you great returns on investment.  Probably
better than putting it into a savings account, but not nearly as good as
risking it in the stock market.

 AT> The problem with jobs is that the more you earn, the less you get in
 AT> foodstamps, and nobody wants to risk losing their foodstamps.

They won't care once they change the rules and not let him buy potato chips
with the food stamps.


.... Honesty pays, but not enough for some.
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