Retirement savings ....Yikes !

[scott_vt]

I bet most "middle Americans" would be grateful to have $500K in their retirement.
From first hand experience, I can tell you that most of them don't.
.

Good Afternoon Drew,
Yes agreed !

But Im sure you have seen some of the e-mails floating around on the internet about SS ..... that fund sure has been abused IMO !
Im really not terribly surprised about alot of things that happen in Washington JMO...

 

[dave1949]

The original "traditional IRA" was established by the Tax Reform Act of 1986. I thought it was earlier, but that's according to Wikipedia.

An IRA is not a birthright, what Washington giveth, Washington can taketh. :laughing:

 

[Travelover]

I think the worry is that Congress will start inching the limit down until it affects a majority of us.

I understand, but that leads to a conversation that I'd rather see on the Front Porch.

 

[keegs]

I've been hitting the HCE limit for some time now....and before that I likely didn't have enough sense to max the contribution limit. :laughing:

 

[scott_vt]

The original "traditional IRA" was established by the Tax Reform Act of 1986. I thought it was earlier, but that's according to Wikipedia.

An IRA is not a birthright, what Washington giveth, Washington can taketh. :laughing:

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.....

 

[keegs]

Heads Up!

The Retirement Gamble | FRONTLINE | PBS

 

[keegs]

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.....

Hi Scotty...it may be a technicality to some, but SSI and SSDI are not funded through the FICA tax.

 

[scott_vt]

Heads Up!

The Retirement Gamble | FRONTLINE | PBS

Good Afternoon keegs,
Well youve got my interest, but not much info in that short clip !

 

[keegs]

Yeah...It's a bit of a tease. I'll probably tune in.

 

[dave1949]

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.....

Hi Scotty,

Yep, getting after the fraud and such is needed. I don't know what it adds up to, if you total up all the medicaid/medicare fraud, bogus charges, SS disability fraud, etc. It may not be enough to make a really significant difference in raw dollars, but it might restore some faith in those programs. People don't like to feel they are being cheated on.