JerryS

MyWar

Curious…. Do you have a source for that SS COLA comparison?

Here is one of many articles stating the COLA figure:
https://www.yahoo.com/now/average-social-security-benefit-2022-140007748.html
 
per the article:
According to the SSA, the estimated average monthly benefits for all retired workers will be $1,657 beginning in January 2022. Prior to the COLA taking effect, the average is $1,565, meaning seniors will receive roughly $100 more each month and $1,200 over the year as part of the COLA increase
 
My other source was a student loan calculator that shows each $10,000 borrowed costing $104 per month based on a standard 10 year student loan at an interest rate of 4.66%.
https://smartasset.com/student-loans/student-loan-calculator
 
I couldn't find my 42M retiree source.  This site states 46M
https://www.zippia.com/advice/social-security-statistics/
 
 

Irisheyeball
The market...I'm buying.
Be greedy when others are fearful....W Buffett.

EMitch
usually take the popular vote by millions, so we'd have 1 party rule forever.

Porktown

Irisheyeball
The market...I'm buying.
Be greedy when others are fearful....W Buffett.

I wish that I could. I lost so much “unrealized”, I don’t have anything to buy with and pray to break even on much of it…. My pay barely covers inflationary bills, which hasn’t happened to me for 15+ years… Where is this capital to “buy” from when others are fearful??? Unless you are a politician or other insider that knew the market was going to tank to this chit level? F Warren Buffet, EVERYONE would buy during “fearful” if they had the means to do so!!! One of the most misleading statements ever (cue Eyesngills photo of little dude’s nut shot).

Guess how the greedy are able to be greedy?

How about a fix to that system? One party offers lip service, while they skewer all of us, the other doesn’t even offer the lube.

If you are fortunate to be able to hold $100k+ in liquidity that you don’t rely on, you’ll likely turn it into $500k in 2-3 years, or possibly 2-3 months. Guess who are the only ones to be able to stash in yielding cash equivalents that long are??? Not me unfortunately. Same MF’s that don’t give a rats A what inflation is doing to the rest of us.

Let’s give away more money to fix this problem….

MAGA nutter here!

EMitch
When the Supreme Court shipped Roe back to the state legislatures, the very most democratic decision, which in theory should allow each and every voter to have a say in the final decision,

Porktown

JerryS
Where have you been for the last 13 years where one of the longest bull markets occurred (600+ percent gains)?  So far we haven't even lost the gains of 2021.  If you have many years before retirement you should welcome this pullback versus the unsustainable nosebleed levels at the start of this year.
 
I understand your aversion to the gov't throwing money at problems, but do you realize gov't (and Federal Reserve) intervention was one of the main drivers of the 13 year bull market?
 

Try, more like 250%. Not every company is Tesla. Much of that growth is in a few companies too. So if you were fortunate to grab the right ones, great. I have a few mutual funds that are about 8-9 years long. After this correction, I am up 30% in each. My 401k is not even close to being up 600% in the past 13 years. And imagine 99% are similar to mine.

Agree that it is healthy for the market to correct itself.

What I am saying is, not many average people have $200k or whatever sitting around in cash. It is likely invested if you have that amount. The ultra wealthy on the other hand do keep large sums like that in cash, for instances like this. Maybe some have $10-$20k set aside to try to time the market, turning that into $50k is great, but not making you wealthy.