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Americans Are Putting Billions More Than Usual in Their 401(k)s

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Re: Americans Are Putting Billions More Than Usual in Their 401(k)s

#321

Post by notheguyouthink »

baddox wrote: post #300
pawn wrote: post #257

Earlier quoted context omitted.

It could be argued that 100 people living in 3 counties have a greater diversity of concerns and opinions than 100 people sharing an apartment complex.

Is "diversity of concerns" a primary goal of democracy? Obviously for issues that directly affect a local region, I do think those should be handled by a local government. The people in the apartment complex probably ought to have different rules than people in rural counties, each reflecting the concerns of the local population. But there's only one President for the whole country, for better or for worse. It doesn'…

From your description it sounds like thats the only time it makes sense, to me at least. Ie, the President should hopefully be working for the whole country, not just the most dense areas.

I guess another way to look at it is that the president is responsible for such a large area, that population is far less of a concern (in my view). S/he should know not to set laws that focus on a locality, because the states can do a far better job at that.

I don't want the president to set laws for me (just an example) focusing on people in downtown LA or NYC - i don't live there, my world is very different. I want my president to consider the whole country, and let the states/counties handle raw locality.

Re: Americans Are Putting Billions More Than Usual in Their 401(k)s

#322

Post by uiri »

ryandrake wrote: post #124
briHass wrote: post #53

Earlier quoted context omitted.

One problem with the Roth IRA is the income phase out limits. If you're single, if you AGI is >117K, you can only contribute some percentage of the $5000 allowed for the Roth. If you're >132K, you can't contribute anything. For a married couple, those limits are 184K/194K. Granted, you can reduce your AGI by contributing to a 401K first, which allows you to take $18K off the top. I know this doesn't affect many, but…

Those are still pretty high limits, well above the median tech salary even in the Bay Area. If you're in "income phase out" territory you're probably not worried about your retirement. The thing I don't like about Roth is that you're contributing with post-tax money during your prime working years--the time when your taxes are probably as high as they will ever be. Especially true as a tech worker where your salary p…

Adjusted gross income includes things like bonus and RSUs vested during the tax year, no? If that is the case then anyone starting straight out of college at a large tech company (Google, Facebook, Apple, etc.) will likely be above the phase out limits.

EDIT: Specify vested RSUs per reply below.

Re: Americans Are Putting Billions More Than Usual in Their 401(k)s

#323

Post by [deleted] »

jackvalentine wrote: post #169
snovv_crash wrote: post #108

Earlier quoted context omitted.

Do you get to choose the bank that the account is with?

Yes, and the money is easily portable between them and you choose what level of risk you're willing to tolerate. You can even run a self-managed superannuation fund and make all the investment choices yourself if you want but people rarely do better than a standard fund.

[deleted]

Re: Americans Are Putting Billions More Than Usual in Their 401(k)s

#324

Post by eli_gottlieb »

pcardh0 wrote: post #309
eli_gottlieb wrote: post #251

Earlier quoted context omitted.

>Good luck with that. You want to bleed out in the street, go for it. Plenty of other first world countries for me to move my family to. Very few others with low taxes, no universal health-care, no universal pension, and a general fetish for empowering the rural bourgeoisie at everyone else's expense. Personally, I've got three countries on my short list to apply to, maybe four. But I'm still going to start taking se…

How are MS-13, Bloods, Crips and other various street gangs enabled by Trump's election? I am confused.

You actually think street gangs are worse than neo-Nazis?

Re: Americans Are Putting Billions More Than Usual in Their 401(k)s

#325

Post by tunap »

chrisabrams wrote: post #255
knz wrote: post #139

Earlier quoted context omitted.

> Social Security is an authoritarian play, or a power play A more charitable view would be that social security is an attempt to provide a minimum standard of living for all seniors and the disabled. How do you propose that society cares for these people, particularly the disabled, if it's not done at a societal level? Retirement also benefits the young/middle aged by ensuring jobs open up.

I think the older generation should give way to the younger generation. After all, it is the younger generation that is required to run the world while the older retires. However, as it is currently, the older generation is robbing the younger generation. The younger generation is paying for entitlements that it knows it will never receive. That is not sustainable, fair, or in my opinion: necessary. It should not be…

"Probably" see better results? I don't have, nor will I fetch for, the number of people who are solely reliant on SS, but my father is one of them. And he said the exact same words as you to me when I was a sprout. Now, after some bad decisions, and health issues as a direct result of long arduous work, he is glad to have that net.

Please, don't tell me about my duties as a son, I've supported two family members through cancer, simultaneously. If/when it comes to it, he will be taken care of by me & siblings. How about the millions? who don't have children able to care for them? The streets is it? More welfare? I'd love to hear about a more sustainable option that doesn't include 'probably'.

Re: Americans Are Putting Billions More Than Usual in Their 401(k)s

#326

Post by notheguyouthink »

brewdad wrote: post #132
adventured wrote: post #117

Earlier quoted context omitted.

Trump easily won the popular vote for the 48 states that aren't California and New York. Popular vote indeed. There's a very good reason the electoral college exists.

CA would be the 7th largest economy in the world if it were its own country. NY would be 11th. But yes, let's just pretend like they don't matter when it comes to the US as a whole.

Yea, and many of us don't live in CA. The country is 50 states, of which the president should represent. If you want laws specialized for CA, pass them in CA. This is why federal should be staying out of local affairs in my book. Because the needs for CA and NY are drastically different than less populated areas.

There is no winning here. You either ignore the voice of CA or the voice of less populated states. You're arguing to ignore a voice, just the same as it is now.

Re: Americans Are Putting Billions More Than Usual in Their 401(k)s

#327

Post by cmurf »

cloakandswagger wrote: post #186
Frondo wrote: post #184

Earlier quoted context omitted.

Social security is not a Ponzi scheme. http://www.politifact.com/florida/statements/2014/sep/24/car...

> "A Ponzi scheme is unsustainable because the number of potential investors is eventually exhausted." Which is exactly what is happening now with the lopsided ratio of retirees and new incoming workers. They seem to have marked the assertion as "False" based off of really semantic technicalities

Oh my a short term mismatch in the system; as if we can't make an adjustment. What would privatization of Social Security employ when the stock market crashes, which happens from time to time, to moderate the negative effects. In fact, moderation isn't good enough, it'd have to completely smooth away any negative effect for it to be even remotely tenable. Oh the old people have to move out of their apartment if they can't afford it now? Too bad?

http://www.pewresearch.org/fact-tank/2016/04/25/millennials-...

Re: Americans Are Putting Billions More Than Usual in Their 401(k)s

#328

Post by omni »

dmoy wrote: post #311
chrisabrams wrote: post #269

Am I the only one that is scared of 401ks? It sounds nice: put your money into an account tax-free, let it grow tax free over 30-40 years. When you retire, you have this nice large fund to pull money from. My biggest fear is that in 30-40 years the US government and/or 401k funds are so poorly run that they tax 50/60/70% of the income (withdrawals) out of the 401k to sustain theirselves. Lots of people tell me "that…

If you are scared of the tax rate rising (which is reasonable, since tax rate in the US is at like an all time low historically speaking), consider Roth type stuff that is taxed now, not later. Or do both, as a hedge.

Honestly asking: do you know if there are any protections in place to prevent Roths from becoming taxed on withdrawal in the future?

Re: Americans Are Putting Billions More Than Usual in Their 401(k)s

#329

Post by vkou »

hoorayimhelping wrote: post #164
tingletech wrote: post #80

Earlier quoted context omitted.

That's why we need immigration policies that let us keep enough working age people in the country

No, that's why we need people not to bet their retirement on a pyramid scheme, which is the point the parent of this whole conversation was making.

How exactly can a 45 year old currently making <$25,000/year be expected to finance their retirement, without Social Security?

Re: Americans Are Putting Billions More Than Usual in Their 401(k)s

#330

Post by kmicklas »

eli_gottlieb wrote: post #324
pcardh0 wrote: post #309

Earlier quoted context omitted.

How are MS-13, Bloods, Crips and other various street gangs enabled by Trump's election? I am confused.

You actually think street gangs are worse than neo-Nazis ?

Hacker news is a racist cesspool, you shouldn't be surprised.
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