I guess in general I am not sold on the cypto currency investments. I think a lot of those investments will go to zero. Its too early to pick the winners and losers.

Hey, lets go back to Tigers and Zero Coupon Bonds

The general rule of thumb is to take more risky investments if your time horizon is long. However crypto is too high of a risk for me. My riskiest investments are ETFs of small cap stocks.

FrankN wrote: Well I am young, which does help. I also am relatively conservative in my investments so I havent touched anything super risky. My goal is to save 25%+ of my income per year and hope the can hit 6% returns on average. If I do that, I believe I should have enough to enjoy retirement.

You're supposed to take the heavy investment risks while you're young. At least, that's what I tell myself with my crypto investments. I need to save more of my salary than I do. I'm nowhere near 25%. i just need to be more mindful.

Well I am young, which does help. I also am relatively conservative in my investments so I havent touched anything super risky. My goal is to save 25%+ of my income per year and hope the can hit 6% returns on average. If I do that, I believe I should have enough to enjoy retirement.

JGibbs wrote:

FrankN wrote: I am still 35+ years away from SS, and agree its hugely important for many people. I just don't want to bank on it in case it does go away or change.

Do you believe you'll be able to sock enough away for retirement without social security? I did pretty good with Bitcoin even though I sold too early, but it's hard to imagine that my 401k and investments will be enough to carry me through. I keep at it though.

The government is charged with SS, therefore I don't count on it. I count on my own earning potential and investments.

Mutual funds. Invest right and you can't go wrong.

FrankN wrote: I am still 35+ years away from SS, and agree its hugely important for many people. I just don't want to bank on it in case it does go away or change.

Do you believe you'll be able to sock enough away for retirement without social security? I did pretty good with Bitcoin even though I sold too early, but it's hard to imagine that my 401k and investments will be enough to carry me through. I keep at it though.

From where I sit ... few Middle or Lower Class people can really put away enough money to retire without help. Life just doesn't leave enough left over to fund life long retirement programs.

Wanderer wrote: This question on Social Security has been kicked around for as long as I can remember ... in the event the dumb politicians realize the benefit of it and quit trying to put more money into the pockets of those who really don't need it we could keep the program solvent. Over a life time Social Security has been the one under pinning of life we could depend on. While I am on the high end of the life continuum I still see it going on. May be time to change elected officials again!!! There is no other life guarantee and without it many many many people will be below the poverty level. Building other retirement sources is certainly a must but remember to keep an eye on it as the government likes to play with the tools needed to save the money!

I am still 35+ years away from SS, and agree its hugely important for many people. I just don't want to bank on it in case it does go away or change.

Wanderer wrote: This question on Social Security has been kicked around for as long as I can remember ... in the event the dumb politicians realize the benefit of it and quit trying to put more money into the pockets of those who really don't need it we could keep the program solvent. Over a life time Social Security has been the one under pinning of life we could depend on. While I am on the high end of the life continuum I still see it going on. May be time to change elected officials again!!! There is no other life guarantee and without it many many many people will be below the poverty level. Building other retirement sources is certainly a must but remember to keep an eye on it as the government likes to play with the tools needed to save the money!

I still think the best way to save is to go bury it in the back yard. Just kidding. However you are 100% correct about the government playing with the tools necessary to save. We all just need to be aware!

This question on Social Security has been kicked around for as long as I can remember ... in the event the dumb politicians realize the benefit of it and quit trying to put more money into the pockets of those who really don't need it we could keep the program solvent. Over a life time Social Security has been the one under pinning of life we could depend on. While I am on the high end of the life continuum I still see it going on. May be time to change elected officials again!!! There is no other life guarantee and without it many many many people will be below the poverty level. Building other retirement sources is certainly a must but remember to keep an eye on it as the government likes to play with the tools needed to save the money!

I am in my 30s and I very much doubt I will get social security. I would advise everyone to not plan on it.

I cringe whenever someone says "student loans." It could take a lifetime to pay them off in this economy. Trade school is a good alternative if one is willing to be a laborer. Last time I had a plumber in he charged so much I decided I was in the wrong profession.

I have told my children not to count on Social Security. They will probably never see it. Sad indeed.

Sobering reality ... the latest happenings in the last few years have done a lot to open the door for the middle class that is now obsolescent to move into the lower class. Then ... we reduce the "safety nets" (Trump's group now has the Republicans understanding how to vote so they will attack Social Security, Medicare and Medicaid through program right sizing to balance the recently passed tax restructure - they are even bragging about it) and cast us into the ranks of the "have not's'". I think of the huge costs connected with college and then I wonder if we go to a trade school will the jobs be there or overseas (if the jobs exist at all) so student debt bothers me and then we free the financial industry from oversight and follow with the elimination of "net neutrality" related to media and WOW ... "free willy". Not funny! ;(

Finance Globe wrote: This is the republican's way of looking at taxes. Allow corporations to keep the money to "hopefully" re-invest in our people.

It is a good concept if it will work. On another note have you ever seen a big business close down because of high taxes and regulations? I used to live in a town where that happened and the people were left jobless. Soon other business followed the first one and now it's rather a ghost town. The whole area is entering its 3rd generation of poverty.