Gas Prices

Quote: terapined

Millions of working stiffs are invested in the market
Most working stiffs have a 401k
It's a very common benefit.
I've had a 401k my entire life.
I dont think anybody depends on just SSA anymore
Dont you have a 401k?

In Las Vegas there are so many service workers that are not offered 401k's through employment. If they are not investing on their own they will be in trouble when they go to retire. My mother in law was living just on $950 a month in social security.

Quote: DRich

In Las Vegas there are so many service workers that are not offered 401k's through employment. If they are not investing on their own they will be in trouble when they go to retire. My mother in law was living just on $950 a month in social security.

Thats true
Do you expect those workers to spend their entire lives in those jobs
401k is a pretty common perk

Quote: DRich

In Las Vegas there are so many service workers that are not offered 401k's through employment. If they are not investing on their own they will be in trouble when they go to retire. My mother in law was living just on $950 a month in social security.

Just as Hillary did before him, Xiden supports a transaction tax on all equity, debt and derivatives trades in the US. When she was in the Senate, Harris proposed legislation to tax stock trades at 0.2% and bond trades at 0.1%. This may not see like much, but funds do a tremendous number of trades. An FTT is a direct government tap to your 401K. Every time your fund makes a transaction, the government will siphon a portion of your 401K or fund on a daily basis. Not only does it take money from your 401K, it denies you the benefit of years of accumulated compound interest on the money siphoned from the account. This could amount to hundreds of thousands of dollars lost, over the life of the 401K. It's not just 401K's. Pension plans, 529 College Savings plans, IRA's and Mutual Funds will also be affected.

"A financial transaction tax would impact average investors in a couple of ways as the market reacts to the tax. As this would be a tax on all transactions, it would increase taxes on accounts traditionally shielded from them, such as 401(k) plans. It would likely decrease asset values because trading them becomes--even if only slightly--more expensive."-Morningstar

Quote: Tanko

Just as Hillary did before him, Xiden supports a transaction tax on all equity, debt and derivatives trades in the US.

Much to do about nothing
Wont pass
This is Obama 3rd administration.
Never happened with Obama, wont happen now
Besides, I'm against it :-)

Its weird Trumpers think the world is now ending because Biden has been President for like 10 min
ROTFL

Quote: DRich

In Las Vegas there are so many service workers that are not offered 401k's through employment. If they are not investing on their own they will be in trouble when they go to retire. My mother in law was living just on $950 a month in social security.

They will not be able to fill their tank but they will be happy dey didn't vote for dat wascally wepublican!

Quote: terapined

Thats true
Do you expect those workers to spend their entire lives in those jobs
401k is a pretty common perk

You would probably be surprised how many of those workers do stay in those positions their whole lives. I am not just speaking of low paying positions, some make $70,000 a year and don't have 401k's offered. I am not arguing that they deserve it, just the opposite. People need to save on their own.

Quote: DRich

You would probably be surprised how many of those workers do stay in those positions their whole lives. I am not just speaking of low paying positions, some make $70,000 a year and don't have 401k's offered. I am not arguing that they deserve it, just the opposite. People need to save on their own.

That’s why the gubmint established IRAs. Essentially 401k’s for individuals whose jobs don’t have employer sponsored 401k’s.


Grrrr.... didn’t mean to hijack..... paid $2.49 for gas today. I think a tank is lasting me a month now that not golfing....

Quote: SOOPOO

That’s why the gubmint established IRAs. Essentially 401k’s for individuals whose jobs don’t have employer sponsored 401k’s.


Grrrr.... didn’t mean to hijack..... paid $2.49 for gas today. I think a tank is lasting me a month now that not golfing....

I am also getting about a month per tank.

Quote: SOOPOO

That’s why the gubmint established IRAs. Essentially 401k’s for individuals whose jobs don’t have employer sponsored 401k’s.


Grrrr.... didn’t mean to hijack..... paid $2.49 for gas today. I think a tank is lasting me a month now that not golfing....

The problem with IRA's is the max contribution is 6k. So if you are making over 60K and do not have an employer plan (401k 457, etc...) your tax free retirement savings are limited. Whereas if you work somewhere with a plan you can save up 19.5k a year through your plan (plus whatever pension plan you may have) and still do an IRA on your own. So if you work somewhere that does not offer a 401k type plan and no pension, your retirement savings take a massive hit.

Quote: SOOPOO

That’s why the gubmint established IRAs. Essentially 401k’s for individuals whose jobs don’t have employer sponsored 401k’s.


Grrrr.... didn’t mean to hijack..... paid $2.49 for gas today. I think a tank is lasting me a month now that not golfing....

Where should people learn about saving for retirement? Ideally everyone would have two loving teaching parents, but obviously some children get shorted on that end.

I remember in some math class, way back, the teacher had brought in some income tax forms and was trying to educate us on paying taxes. I think that is a great subject to be at least brought up in school. And this putting it away for later on thing, it's great to have enough of the things you need to be happy and healthy and so on, later in life and living under a bridge don't look all that cozy. So maybe that is another thing teachers could mention, at least talk some about an IRA or some kind of provision for our old age.

What a hard thing to learn about, getting laid if at 55 with no 401 or pension, and having to go back out and compete with younger hungrier youth. Yeah, it'd be great if parents were better at parenting, but what is, is.

I texted with my daughter a while ago, asked her if her kids were back in, in person school. She said yes, but her children are so far ahead of their class, they are suffering. Two high schoolers already taking college credit classes besides the required curriculum. And then there is the contingent that just played for the last year, that will drag America down for the next 3 generations.

It's best to learn what you need when you're young. Innit.


Gasoline here is 2.56, up almost .50 in the last month. Oh boy.