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Where is you money going?

  • 401k at work or 403b

    Votes: 7 50.0%
  • IRA and normal saving of 10% each week

    Votes: 1 7.1%
  • Certificate of Deposit

    Votes: 0 0.0%
  • Mutual funds & Stocks, bonds

    Votes: 5 35.7%
  • I spend all my extra money on my bike

    Votes: 0 0.0%
  • I will work till the day I die

    Votes: 1 7.1%

  • Total voters
    14
1 - 20 of 31 Posts

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I am relying solely on Social Security. Allowing the government to take by force my own money, "investing" it in a way that isn't anywhere near as efficient as investing it as I would if I were allowed to actually control my own money, that I earned, is the best option any of us could choose.
And it is such an awesome program that it will be around forever and give us all such a nice, cushy lifestyle.
It isn't at all like an illegal Ponzi scheme.
 

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Whats Ponzi?
In a nutshell, a Ponzi scheme is a scam where "investors" are promised a high return on their money, but the "investee" never actually invests the money.
What happens is that person A "invests" some money, and when that money comes due, he is actually paid out by the "investments" of persons B and C, and so forth.
The actual divdends earned on the monies collected doesn't match what is being paid out, but because of greed people will keep putting money into the scheme until the rug is pulled out from under them either by the "investee" (scam runner) taking the money and running, the money running out or simply not enough new "investors" adding money to the pot to keep up with the payouts.
Sound familiar? Well, other than the fact that SS doesn't promise any large yields. In fact, it doesn't promise anything, as Congress can change the "benefits" at any time.
 

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4,696 Posts
In a nutshell, a Ponzi scheme is a scam where "investors" are promised a high return on their money, but the "investee" never actually invests the money.
What happens is that person A "invests" some money, and when that money comes due, he is actually paid out by the "investments" of persons B and C, and so forth.
The actual divdends earned on the monies collected doesn't match what is being paid out, but because of greed people will keep putting money into the scheme until the rug is pulled out from under them either by the "investee" (scam runner) taking the money and running, the money running out or simply not enough new "investors" adding money to the pot to keep up with the payouts.
Sound familiar? Well, other than the fact that SS doesn't promise any large yields. In fact, it doesn't promise anything, as Congress can change the "benefits" at any time.
wow, that is the same set up isnt it. i never heard it called a ponzi
 

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wow, that is the same set up isnt it. i never heard it called a ponzi
That's because the same people taking your money by force are insisting it isn't a Ponzi, yet one can directly trace new monies going into the system to payouts rather than investments.

I can't think of a better way to invest 12.4% of your own hard earned money, can you?
 
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