"bpuharic" wrote in message
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On Thu, 22 Jul 2010 11:32:25 -0400, wrote:
On Thu, 22 Jul 2010 06:30:16 -0400, bpuharic wrote:
it's greed. there's a reason the financial sector accounted for 40% of
GDP in 2007 while the US did NOT become more competitive in world
markets. the financial sector added NOTHING to US assets
Where do you think the money for your retirement will be coming from?
that's the problem. there is none.
The whole basis for everyone's pension, 401k and IRA is that Wall
Street sector you seem to hate.
gee. that's why i'll have to work, like millions of others, until i'm
70
so you're right. wall street has our money for retirement
which means no one can retire. thanks. i already knew that
Retirees are by definition not adding
anything to the economy, they are living off of it.
The same is true of everyone on Social Security. You better hope Wall
Street stays 40% of the economy if you want your 401k to be worth
anything when you start sucking off the public tit.
bull****. wall street produces nothing. there is no value added in
trading CDO's
you know **** about business. if what you say is true, then why is the
economy a disaster?
answer: because too many people believe as you do.
Not sure how old you are, but if you're in your late 40s, there's still time
to have a shot at a decent retirement income. You might want to consider
alternative instruments, such as a modified whole-life insurance policy.
They're not just about death benefits. There are some that will give you a
payout that is tax-free income between say 70 and 85, and still leave you
some cash balance without taking away from the death benefit over much. I'd
suggest talking to a reputable agent, e.g., New York Life or another of the
biggies.