MSN Money - The Basics: How 7 experts would invest Social Security cash
Most of the experts are in favor of these "private accounts". I just wish they would go further and allow us more than 4% to put into them.
Wednesday, February 23, 2005
Tuesday, February 22, 2005
Someone else feels the same way
So I was getting gas again today, and I was inspired by the graffiti on the pumps. Someone wrote F*** Gas Prices just above the price area. Glad someone else feels the same way - time to revolt.
Sunday, February 20, 2005
How much do they really care
So I received this email today...
So while I wait for my replacement power cord to come, I could own a defective cord that would melt my system housing. They don't say anything about taking any precautions except not leaving your system on 24/7..but wait, I guess I have to have time to play first so this really doesn't affect me too much. I'll try to limit the amount of time I play in my "spare" time until a new cord comes.
MICROSOFT ANNOUNCES POWER CORD REPLACEMENT FOR XBOX
Dear Xbox
Customer:
I am writing to provide you with information about a free
power cord replacement program for Xbox.
...
We are providing replacement power cords because component failure in a
small number of consoles - fewer than 1 in 10,000 - has caused burning inside
the console or melting of the power cord where it connects to the console.
...
Your new cord should arrive in two to four weeks. Until you receive and
install your replacement power cord, turn off your Xbox when it's not in use.
So while I wait for my replacement power cord to come, I could own a defective cord that would melt my system housing. They don't say anything about taking any precautions except not leaving your system on 24/7..but wait, I guess I have to have time to play first so this really doesn't affect me too much. I'll try to limit the amount of time I play in my "spare" time until a new cord comes.
The time machine
So I finally found some time tonight to play computer games. It's been at least a month since the last time I was able to sit down and play for a little while. I finally installed Half Life 2 on my computer and got past the first level. I played it before on Jeff's computer, but the box has been sitting on my desk for several weeks now waiting for me to install and play. Hopefully I'll find some time soon to play some online action as well. Halo2 and my XBox have been collecting dust for the past month as well.
It all comes down to I have too much to do right now. I'm working full time - I actually put in about 94 hours over the past two weeks. I'm teaching 2 classes at Biola. I'm also taking 2 classes for my masters program in information security. By the time I spend some quality time with Amanda and do my chores around the house, that leaves zero time left for fun like video games. I'm also trying to get a website off the ground and have found no time to work on it. Oh well...someday.
It all comes down to I have too much to do right now. I'm working full time - I actually put in about 94 hours over the past two weeks. I'm teaching 2 classes at Biola. I'm also taking 2 classes for my masters program in information security. By the time I spend some quality time with Amanda and do my chores around the house, that leaves zero time left for fun like video games. I'm also trying to get a website off the ground and have found no time to work on it. Oh well...someday.
Thursday, February 17, 2005
How much can they steal from us
So I had to fill up with gas today. It cost me 29 freakin dollars! Now, I don't drive a gas guzzler or anything, my car gets modest gas mileage, but gas prices are now sitting at 2 freakin 16 per gallon ($2.16/gal).
And they're set to go even higher...just on the rumors that opec might cut oil exports. Umm...hello there...they haven't even cut the output yet and already gas prices are being pushed even higher. Somebody is pocketing that money at my expense. Thief!
Besides, if oil prices are already at all time highs, why in the world is anyone even considering cutting production? That would only push prices still higher. The only reason is greed - those greedy bastards who control oil production and are only interested in the money.
Domestic oil companies could do something about it by exploring more in our domestic oil fields, but they also want to increase their profits. If oil prices were high, and gas retailers were merely passing the cost on to us, they should not be making any more profit. But instead, they are using high oil prices to pad their profits even more. Chevron and other companies are in the process of releasing earnings reports, and their earnings are at all time highs. Thieves!
Someone better organize a consumer revolt. I already carpool in to work, so I only have to drive every other day. I also have the alternative of riding a train to work. The train seems more appealing every day - I mean, I want to contribute as little as possible to lining the pockets of greedy oil companies.
And they're set to go even higher...just on the rumors that opec might cut oil exports. Umm...hello there...they haven't even cut the output yet and already gas prices are being pushed even higher. Somebody is pocketing that money at my expense. Thief!
Besides, if oil prices are already at all time highs, why in the world is anyone even considering cutting production? That would only push prices still higher. The only reason is greed - those greedy bastards who control oil production and are only interested in the money.
Domestic oil companies could do something about it by exploring more in our domestic oil fields, but they also want to increase their profits. If oil prices were high, and gas retailers were merely passing the cost on to us, they should not be making any more profit. But instead, they are using high oil prices to pad their profits even more. Chevron and other companies are in the process of releasing earnings reports, and their earnings are at all time highs. Thieves!
Someone better organize a consumer revolt. I already carpool in to work, so I only have to drive every other day. I also have the alternative of riding a train to work. The train seems more appealing every day - I mean, I want to contribute as little as possible to lining the pockets of greedy oil companies.
Wednesday, February 16, 2005
The biggest fraud ever
So I have always disliked the Social Security system
This is one of my pet peeves.
The government takes nearly 13% of my income and places it in the Social Security system. Money that I could invest better on my own. I recently calculated how much I could save between now and when I'm 65 (40 years from now) at various rates of return. I also calculated how much I would receive if I took that balance in a 30 year annuity of equal payouts until I reached age 95. Chart with raw calculations.
Basically:
Assumption: current annual income $68000 a year with no future raises in next 40 years
13% of income is saved
When you consider that 5-10% average return is easily accomplished using very conservative investments, you can quickly see what a fraud this whole social security system. When you combine the contributions for both a husband and a wife, it is even worse. Even someone earning the median income of ~$32,000 could retire a millionaire and have a retirement income of over $100000 per year.
I believe you should be able to opt out of the Social Security system and invest your money the way you choose, in our own account. An account that I control, and no politician can touch. Granted most people aren't disciplined enough to save that much money on their own, so there could still be a mandatory payroll tax that goes in these account much like our Social Security contributions now.
Why can't this be done? Both Republicans and Democrats alike will say that it can't be done. They say that my contributions are needed to pay benefits for current retires. That is completely ridiculous. Instead of keeping my money safe and letting it reap the benefits of compound interest, they squander it. Given the way money grows over time, there is absolutely no reason the Social Security system should be bankrupt as they say it will be. The only reason the current system is loosing money is that current contributions are being squandered away to pay current benefits instead of allowed to grow to pay future benefits to those contributors.
I don't want a "solution" to social security that includes tax hikes and benefit cuts like the current proposals. Partially privatized it like Bush's proposal is good, but still not good enough. I want to be able to entirely opt out of the system.
This is one of my pet peeves.
The government takes nearly 13% of my income and places it in the Social Security system. Money that I could invest better on my own. I recently calculated how much I could save between now and when I'm 65 (40 years from now) at various rates of return. I also calculated how much I would receive if I took that balance in a 30 year annuity of equal payouts until I reached age 95. Chart with raw calculations.
Basically:
Assumption: current annual income $68000 a year with no future raises in next 40 years
13% of income is saved
| Return | Amount Saved | Yearly Retirement Benefit |
| 3% | $682,984 | $34,845 per year |
| 5% | $1,127078 | $73,318 per year |
| 10% | $4,701,186 | $498,698 per year |
| 12% | $8,779,296 | $1,089,893 per year |
When you consider that 5-10% average return is easily accomplished using very conservative investments, you can quickly see what a fraud this whole social security system. When you combine the contributions for both a husband and a wife, it is even worse. Even someone earning the median income of ~$32,000 could retire a millionaire and have a retirement income of over $100000 per year.
I believe you should be able to opt out of the Social Security system and invest your money the way you choose, in our own account. An account that I control, and no politician can touch. Granted most people aren't disciplined enough to save that much money on their own, so there could still be a mandatory payroll tax that goes in these account much like our Social Security contributions now.
Why can't this be done? Both Republicans and Democrats alike will say that it can't be done. They say that my contributions are needed to pay benefits for current retires. That is completely ridiculous. Instead of keeping my money safe and letting it reap the benefits of compound interest, they squander it. Given the way money grows over time, there is absolutely no reason the Social Security system should be bankrupt as they say it will be. The only reason the current system is loosing money is that current contributions are being squandered away to pay current benefits instead of allowed to grow to pay future benefits to those contributors.
I don't want a "solution" to social security that includes tax hikes and benefit cuts like the current proposals. Partially privatized it like Bush's proposal is good, but still not good enough. I want to be able to entirely opt out of the system.
Well Here Goes...
I may not be the most talkative person in the world, but here is my list of rants and ravings. enjoy...
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