Comments by "Jim my" (@chowsquid) on "Can You Afford to Retire? (full documentary) | FRONTLINE" video.

  1. Max it out
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  2.  @jamesragsdale8202  he said…..I quit caring. We’re lucky to get even that much.
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  3. Don’t have to feel bad. I much rather have a 401k than a pension. I started work in a time when I had both. I will and have made more with my 401k and rollover IRA than the company pension. And I can control it’s distribution to minimize taxes, which I can’t do as well in my pension.
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  4. All sounds good but now who is going to pay for the fund manager’s season tickets and kid’s tuition?
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  5. That means you are living above your means
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  6. Defined contribution plans are 401k and it’s variants
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  7.  @MrTmenzo  there is no “your own SS” It’s a pay-as-you-go system. There is no account. For it to be an account with funds in it, you’ll need to add addition money into it. Which is basically IRA.
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  8. Got lulled with them pension. It’s like having your tutor do all your homework and take all your tests. Then one day the tutor leaves. You are on your own and you learned nothing from all those years of HW and tests.
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  9. That is so odd. I would think the harassing would be if your weren’t saving enough of your money.(and likely have to rely on that family member for emergencies or retirement.) hopefully this family member won’t be relying on you for their retirement.
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  10. Probably a thin line between financial literacy and advice. Schools probably don’t want to be liable for bad advice dealing with money. I bet that’s why most of these company 401k is done by 3rd party or extremely dry.
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  11. That’s gonna be a horrific day for your colleagues or patrons.
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  12.  @patrickmorgan4006  yup. He left money on the table with that 60/40. That 40% didn’t do much for anyone in that low interest years and loses money when rates rise. That 60% could go to zero if the world goes to nuclear war or a much more severe pandemic or asteroid. But at that point money wouldn’t be useful anyway.
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  13.  @texasflood1295  it’s $22.5k this year buddy. $19k recently too. But yes, that is how you do it. Now also fund your Roth IRA and HSA and 529.
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  14.  @patrickmorgan4006  agree. That’s is what that guy did wrong in the video.
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  15.  @browneyedgirl4637  the market recovered from 2008 in 2012. Not sure how leveraged you were. Also, you should have but now know to account for “things out of your control” scenarios. Like warren buffet says: if you know there’s a 100yr flood (pandemic) that happens every 100yrs, you should prepare for that.
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  16. Then do you know what would happen? No more pensions. Cuz why would any corp handcuff themselves?
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  17.  @shashankmishra02  but looked like the 80s in some of those offices.
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  18. Give it time. Assuming you didn’t pick the worst of funds, stocks has historically beaten real estate.
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  19. That last part is suspect. 401k millionaires or near-millionaires now are just fine. When inflation stabilizes, the companies charging you more for that Big Mac is also the company in those 401k portfolio.
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  20.  @hail_seitan_  why would companies set themselves up to be sued? Responsibility is on you. The recent lot of target dated fund basically releases this responsibility.
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  21. TIAA-Cref has a social choice fund since 2000s. Their current fund started in 2006 ticrx
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  22.  @susanlippy1009  it’s because of the birth rate difference and that SS is not allowed to invest the money.
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  23.  @DBEdwards stock market crash…..where/how did you think pension funds grow their money? Put pension money into a pension money hole and voila a pension tree? As a recent example, Ontario Teachers Pension invested in FTX.
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  24. More reasons not to pension
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  25. As a bonus mind blow, part of the trust fund money comes from undocumented immigrants paying into SS via payroll taxes and never actually claiming any SS benefits. $12-$13billion a year.
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  26. Y’all know who she is. Elizabeth Warren
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  27.  @snickersimsocute2438  pretty much the same amount of money the company was putting away for you in your pension instead of just giving it to you in your paycheck. Do people think pensions are free?
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  28. Look at the faces in the video’s meetings. You aren’t going to see better from some grade school teachers. Some just aren’t aware themselves to teach financial planning. My Econ teacher was the best. She even went through her pay stub and explained each item. My history teacher decided to suddenly spend a day talking about revolving credit and compound interest.
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  29. You must have some terrible HR dept in your company. Probably some corruption there.
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  30. Pensions really made people lazy about investing in their retirement. If you had invested in the S&P when you were working, you would have a different tune by now. 45yrs of S&P is some crazy money there.
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