5 ms·

Can you elaborate?

• sliverstorm 13y ago
  I predict the reply will involve how gold is a superior investment vehicle, because the government can't take it from you.
  • Millennium 13y ago
    Never mind, of course, that this has happened. Executive Order 6102, I believe it was.
    • deleted 13y ago
      [deleted]
  • andyzweb 13y ago
    gold is a superior investment vehicle, because the government can't take it from you.
• guylhem 13y ago
  In some countries, pensions were nationalized, the money pooled, and everyone guaranteed a "fair pension" based on social criteria. It's a risk.
  • guard-of-terra 13y ago
    "everyone guaranteed a "fair pension" based on social criteria" Let me translate it into humanspeak for you: this means existing retired, who paid low taxes, will get paid nice pensions out of your high taxes; and when you retire, you'll receive nothing and go begging, since the schema will go bankrupt. Invest in real estate and skills that let you work for long. And in USA most real estate is worthless in the long run.
• 13b9f227ecf0 13y ago
  Well at the very least you don't know what the tax rates will be when you begin withdrawals.
  • marcosdumay 13y ago
    You also don't know what the inflation will be before that. That's the most popular form of savings confiscation.
• exratione 13y ago
  Meaning that over the long term no large pot of money goes unlooted. The public doesn't have enough influence to stop, say, some form of nationalizing of 401k accounts into pension plans wherein what they are invested in is decided by government employees. Large segments of the public would even go along with it. That then turns into looking like just another tax and entitlement because the funds can be siphoned off and spent immediately, much like social security. The present status quo regarding finance in the US cannot continue indefinitely. Sooner or later the obligations cannot be met. There are all sorts of failure modes and unpleasant things that can happen along that road, as more funds are sought, or various institutions collapse, and the looters become ever more brazen. Some form of prettified confiscation of 401k accounts isn't anywhere near the worst of them.
  • tempaccount9473 13y ago
    > Meaning that over the long term no large pot of money goes unlooted. Actually, if you look at average fees charged by financial institution, and the divertion of returns on capital to hedge funds and high-frequency traders, 401k funds are already being effectively looted. > some form of nationalizing of 401k accounts into pension plans wherein what they are invested in is decided by government employees. Hahhaaahaahaaaaa. That's a good one. But in cae someone else doesn't get the joke and takes you seriously, let me explain the joke. Wall Street already has your 401k money, they don't need to siphon it off via tax cuts for the wealthy like we did with the Social Security surplus.