| Viper1 said: NightSurge, they are not removing the entitlements. Ron Paul has a plan that would allow people to opt out of the entitlement programs so you would keep your money but your retirement would be solely up to you. |
So you are telling me that Ron Paul has a plan where I can take 7.65% of my income and make it into my own retirement instead of putting it into a government retirement that I completely and totally don't trust? Sign me the hell up.
(Not making this much currently...only 19 years old, but the point is still being made) 7.65% of $100,000 is $7,645 per year. Since this income is already taxed, if you would take $5,000 of it, and put it into a Roth IRA each year, making an average of 8%, you could come out with a sweet $1,259,282.50. That amount of money is worth the equivalent of ~$386,000 today figuring in 3% inflation per year for those 40 years. So if you have a health insurance plan costing you $10,000 per year (with today's dollars) once you retire, you could be taking $20,000 out for 20 years, and then your money would finally be gone.
With 10% interest and 3% inflation, you would instead have ~$675,000 (present value), and that $10,000 health insurance plan and the $20,000 "pension" would actually lead to you having well over $1 million after 20 years.
I guess the point I'm trying to make, I think I could turn $7,645 per year into a retirement plan so fucking much better than medicare and social security that it really would take me about 2 seconds to make up my mind if I was given the choice.
Money can't buy happiness. Just video games, which make me happy.
