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Medicare and Social Security
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Martian
Martian
328 posts

Medicare and Social Security

I'd like to propose new legislation:
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I'm 35 years old. Give me 1/10 of the money I paid into Medicare and Social Security now. I will, in turn, invest it and grow it on my own until I reach retirement. I guarantee that when I reach retirement, it will actually BE THERE. In fact, it will have grown.
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Having said that, I appreciate the trust and risk that China has had in investing & funding policies I have had no say in. I promise that, some day, we will re-pay you, with interest, when you contractually demand the funds. Please pay no attention to what happens to the credit rating of our bonds and keep funding us. Should we not reverse the ongoing policies of the last few generations, it's not really my problem - my children will take care of it.

Thanks,

Cybele

Apr 17, 2010, 21:54


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Martian
Martian
328 posts

Re: Medicare and Social Security

Dear China,

I partially take back what I just said. Medicare has just grown 100 fold with the new universal healthcare legislation. It's not called Medicare, but it's Medicare in sheep's clothing.

My new request is: can you tell me where the nearest place is that I can take a class in the Mandarin Chinese language? I live in Chicago, but none of us will live here for much longer.

Thanks,

Cybele

Apr 17, 2010, 21:58


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Labhead
Labhead
1868 posts

Re: Medicare and Social Security

Martian wrote:
I'd like to propose new legislation:
>
I'm 35 years old. Give me 1/10 of the money I paid into Medicare and Social Security now. I will, in turn, invest it and grow it on my own until I reach retirement. I guarantee that when I reach retirement, it will actually BE THERE. In fact, it will have grown.
>

Cybele


Woah, share your crystal ball with us. If you can guarantee good solid returns on investments like that, you must be mega-rich by now!

Apr 17, 2010, 22:54


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Martian
Martian
328 posts

Re: Medicare and Social Security

The Dow Jones and the S&P have averaged just under 12% in any 10 year period since their inception. If you diversify your investments over the long haul, you're good to go.

Or you can just give it to the government to manage for you because, hey, they know what to do with your money more than you do.*

Cybele

Apr 18, 2010, 01:31


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Martian
Martian
328 posts

Re: Medicare and Social Security

*Steal it.

Apr 18, 2010, 01:31


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wracket
wracket
1425 posts

Re: Medicare and Social Security

Martian wrote:
The Dow Jones and the S&P have averaged just under 12% in any 10 year period since their inception.

Urban (elite) legend, that. It's true that the long term average return from most stock markets is positive, if one were to take a period starting just before a major correction and then carry it ten years forward, the yearly returns over that period would generally fall well short of your figure. And that's before taking survivorship bias into account, which has an enormous (positive) distortion effect on historical returns.

Apr 18, 2010, 11:57


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Martian
Martian
328 posts

Re: Medicare and Social Security

No, statistical fact, Wracket. It's how a lot of every-day people become millionaires by retirement. Ever looked at a chart before?

Also. . .what's this vain attempt to equate me to some sort of elitist, or wealthy person? I think earlier someone was suggesting that I was in the upper 2% in terms of income. I drive a 2007 Toyota Yaris that I still owe money on. I rent an apartment and I don't have a penny to my name.

Cybele

Apr 18, 2010, 14:40


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wracket
wracket
1425 posts

Re: Medicare and Social Security

Martian wrote:
No, statistical fact, Wracket. It's how a lot of every-day people become millionaires by retirement. Ever looked at a chart before?

Also. . .what's this vain attempt to equate me to some sort of elitist, or wealthy person?


My dear boy, all I do all day long is look such charts. I'm paid to do so as an equity portfolio manager. And let me tell you with a very large degree of certainty that I can find you many 10 year periods which fall well short of your minimum return. Without trying very hard, I can find you one where the S&P 500 averaged an annual return of roughly -10% over a ten-year period--and again, without even taking survivorship bias into account (which means that an actual investor would likely have made ever worse returns). But to stick to your own investment lifetime, Cybele, why don't you just go ahead and look at what your 10 year annual return would have been had you bought an S&P 500 index fund at any point in 1999.

And for the record, the "urban (elite) legend" was just a fairly unwitty pun, not a jibe aimed at you. Though a lot of people mistakenly equate the concept of long term upward trend of equity markets as meaning you can buy (at any point) and hold and you'll be good to go. Ask anyone who has invested in Japanese equities over the past several decades if you don't want to bother, ya know, actually looking at numbers and charts before spouting off about how people should look at a chart before they, ya know, spout off.

Apr 18, 2010, 15:07


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Kazak
Kazak
1618 posts

Re: Medicare and Social Security

Mine! All mine!

Apr 18, 2010, 15:10


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Martian
Martian
328 posts

Re: Medicare and Social Security

I'll take 10% over nothing. That's all I'm saying. It has nothing to do with trusting Wall Street but has everything to do with trusting the gov't.

If you don't like wall street, keep the money somewhere else. This is OUR EARNED MONEY.

Cybele

Apr 18, 2010, 15:21

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