Once again this went over your head. COMPLETELY over your head. Social Security is the ONLY investment that is backed by the full faith and credit of the United States. Your mighty Fedex retirement is not federally insured beyond what the PBGC can pay which from a monthly benefit perspective if called upon only pays generally about 50-60% of the beneficiary's usual monthly benefit and a lot of people were rudely introduced to that reality Oh sure, you've got your mighty 401K from which you eventually are required to begin drawing from which in turn means it will run completely dry sooner or later. You can go on trying to make the rest of us believe that you're set for life if you think it serves your interests.... but we know better.
OLCC over PST
- Thread starter Anonymousposter
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falcon back
Well-Known Member
Another one of your doom and gloom post. So you aren't taking your pension because it isn't federally guaranteed? Your loss. Guess you can't read. I am already taking pulling out of my 401k? LOL Get a 5th grader to explain it to you. My 401k run out? Na. My money manager has that scenario under control.
Ever hear of RMD?
Cactus
Just telling it like it is
falcon back
Well-Known Member
RMD doesn't apply when you are already making withdrawals. I figured you would know that.
BadLarry238
Your Hero
Fred's Myth
Nonhyphenated American
Do YOU have full faith that the Social Security benefits you have been informed you are entitled to are safe and untouchable?
If not, that full faith and credit is worthless.
Social Security 2100 is slowly making it's way around the halls of congress. No aspiring politician would allow Social Security and Medicare to default if they don't want their political careers to default as well.
Remember, Social Security truly is the third rail of American politics.
Using the 4% rule then for you to draw 40,000 a year out of your 401K then you would have to be starting out with a 1 million dollar principal.
The more he talks the more obvious it is that he's not retired and all the stuff he's telling us he's doing is just a figment of his imagination.
I heard that they needed a new coffee boy.
Remember when Bush wanted to privatize Social Security and why it went nowhere?
falcon back
Well-Known Member
40k a year? You can't play golf, fish and smoke pot on 40k a year. That will barely cover 6 months.
