Retirement savings ....Yikes !

[Gale Hawkins]

I think most agree savings that are from pretaxed contributions that future taxes will be due will be collected soon by law. DC/states do not want to wait to receive those taxes.

 

[Travelover]

I think most agree savings that are from pretaxed contributions that future taxes will be due will be collected soon by law. DC/states do not want to wait to receive those taxes.

I don't see this happening. There will be some tightening of rules that benefit the wealthier more, but IRAs and 401(k)s for the average Joe will continue as they are now the standard retirement plan for the masses.

 

[keegs]

The Scary Risks of Safety Bubble Up - Bloomberg

 

[Ken]

Ok, I just finished my taxes (ugh, ugh - yep, I'm for the FairTax!) using software and noticed at one place it said something about being exempt for something when one reaches 65. I'll be 65 about first January next year. For those of you already there, what changes? I can't get back to what I read. Thanks.

Getting the Homestead exemption on your home property may be one.
Except the reassessment will increase to the point it will require more money to pay real estate tax.

ken

 

[Ken]

Good Afternoon Dave,
Yep, thats true, and just maybe the gubbarmint will take a look at taking a closer look at SS dissability payments.... to all the scammers out there who really are quite capable of performing work everyday.....

Scott Did you know being overweight is now considered a disability. local neighbor drank himself into a liver failure. never worked a week total in his life. then while filing the forms his wife was told she is also entitled due to overweight.
It is a new world .
ken

 

[scott_vt]

Scott Did you know being overweight is now considered a disability. local neighbor drank himself into a liver failure. never worked a week total in his life. then while filing the forms his wife was told she is also entitled due to overweight.
It is a new world .
ken

Good Mornin Ken,
Well, I guess Im not surprised...

But if there is a silver lining here, when those scammers go cash their ssdi checks, and go to buy an airline ticket to paradise its going to cost them more in the future !

In the OLD world we all knew and loved, you could shed those extra pounds by getting a manual job with actual physical labor, you would be earning your own money, not leaching off of the rest of society, and you would actually be a healthier person !

Silly me for thinking sch nonsense !

 

[jinman]

I have had excellent success with the Vanguard REIT (Real Estate Investment Trust), VGSLX. That fund has had a 17.26% annual gain average over the last 3 years during some really volatile times in the stock market. It has been VERY good to me. It's like owning real estate, but never having to make repairs or collect rent.

 

[scott_vt]

I have had excellent success with the Vanguard REIT (Real Estate Investment Trust), VGSLX. That fund has had a 17.26% annual gain average over the last 3 years during some really volatile times in the stock market. It has been VERY good to me. It's like owning real estate, but never having to make repairs or collect rent.

Good Afternoon Jim,
Ohhh gosh you should never have let that info out of the bag, now all the rest of us are going to jump on the bandwagon and that will be the end of it !

 

[ultrarunner]

Real Estate in many areas hit rock bottom and now is getting a tremendous boost from 60 year low interest rates.

 

[tcreeley]

I think most agree savings that are from pretaxed contributions that future taxes will be due will be collected soon by law. DC/states do not want to wait to receive those taxes.

Maine taxes state and teacher employee pension contributions already. I'm sure they will find a second way to tax when individuals retire! They tax them now because the individual tax bracket rate is higher before than after retirement. -Some free money for them!