woodrat
Ensign
- Joined
- Jul 27, 2004
- Messages
- 949
Re: Conservative or Liberal
PW2:<br /><br />A roth IRA or 401k is still the government coaxing/motivating/encouraging us, by way of tax policy, to hand over our savings $ to the wall street scammers. And frankly, after I give 15% to FICA, I don't have a lot left over for IRAs and 401k's are not really available to me, a self employed person.<br /><br />I'm one of those pessimistic types that has always assumed that I wouldn't see a dime of my FICA money back, and that still looks pretty likely for me, at 40 years old still a ways off from retirement age. I figure that FICA $ is just a tax that will buy me nothing in the long run, except maybe my parents will be lucky enough to collect a little and I won't have to support them as much in their retirement. Which of course won't be very plush since they are also self-employed and lost a ton in the crashing stock market a few years back, having been encouraged by tax policy to put their retirement savings there.
PW2:<br /><br />A roth IRA or 401k is still the government coaxing/motivating/encouraging us, by way of tax policy, to hand over our savings $ to the wall street scammers. And frankly, after I give 15% to FICA, I don't have a lot left over for IRAs and 401k's are not really available to me, a self employed person.<br /><br />I'm one of those pessimistic types that has always assumed that I wouldn't see a dime of my FICA money back, and that still looks pretty likely for me, at 40 years old still a ways off from retirement age. I figure that FICA $ is just a tax that will buy me nothing in the long run, except maybe my parents will be lucky enough to collect a little and I won't have to support them as much in their retirement. Which of course won't be very plush since they are also self-employed and lost a ton in the crashing stock market a few years back, having been encouraged by tax policy to put their retirement savings there.