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  • Originally posted by jammies View Post
    The major perks of the 401k are that you are not taxed on the amount that goes in, so your money is worth 30% more without doing anything, some companies have an employee match, which then doubles your money without doing anything. It's also nice (and bad) because you really have no access to it, so the temptation to spend it is low.

    But I agree, it is not the golden parachute people think. And if you do withdraw early you get hosed on about 15 different levels.
    That's the thing - my company matches up to 6% so it's hard to walk away from that.

    Comment


    • Thanks Lazarus.

      I was looking into Swiss "allocated" gold accounts, but even then I guess there is no guarantee the gold actually exists.

      Comment


      • - Karl Denninger, financial expert at Market-Ticker.org says Obama Care is destined to be a disaster. Denninger says, “What Congress calculated rather coldly is they could shove a gun up young people’s backs and make them fork up the money.” There are two very big problems with this, according to Denninger, “They have no reason to buy today, and the fine is insufficient motivation because it is a small fraction of the premium.” Denninger predicts, “This is not going to bring down healthcare costs. This is going to accelerate costs. This is extremely bad law.” Join Greg Hunter as he goes One-on-One to interview trader/financial analyst Karl Denninger.
        Read more at Karl Denninger Says Obama Care is Doomed to Failure | Greg Hunter



        It is called a "Downward Spiral" because those who are sickly & have pre-existing conditions will sign up, and healthy young people will just pay the fine or ignore Obama Care altogether. Insurance companies will simply go out of business if enough young healthy people don't sign up.

        Carl Denninger explains why ACA will crash & burn within 1 year.

        Grizz

        Comment


        • Obamacare Software,
          Software Expert John McAfee says that it is unfixable, must be restarted from scratch with quality programmers.

          Interview with John McAffee:



          Grizz

          Comment


          • Originally posted by KimchiNinja View Post
            Thanks Lazarus.

            I was looking into Swiss "allocated" gold accounts, but even then I guess there is no guarantee the gold actually exists.
            KimChiNinja,

            My favorite investment is Electric Utility Companies. They pay me a 6% & more dividend and have a growth in earnings, too.
            Here is the track record of one of my investments:
            NextEra Energy, Inc. | Investor Relations: Wind Energy Stocks, Solar Energy Stocks, FPL Stock | Dividend Information

            I reinvest most of the dividends.

            While everyone is expecting the end of the world, I expect the USA to muddle along as usual, and electric utilities are a vital business that are not going away. I prefer the companies with major investments in solar & wind that will outperform coal fired companies as Obama taxes coal into oblivion.

            To each their own best investments, I don't expect anyone to agree with my choices. Utilities have been fantastic for me over the decades, with zero BIG LOSSES. The name of this game is to NOT lose money.

            Grizz

            Comment


            • There is not anything that we the people can do about this. I say accept it as reality, just like we accept the drinking age at 21 rather than 18, or paying more for car insurance under the age of 25. It sucks donkey ass, but we just have to learn to live with it and make accommodations around it, and hope it gets better--I am sure due to the lack of success of the government platform, some private companies will come about offering better deals in an effort to get more customers.
              Stumbled into Primal due to food allergies, and subsequent elimination of non-primal foods.

              Start Gluten-Free/Soy-Free: December 2012; start weight 158lbs, Ladies size 6
              Start Primal: March 2013, start weight 150lbs, Ladies size 6
              Current: 132lbs, Ladies size 2
              F/23/5'9"

              26lbs lost since cutting the crap.

              Comment


              • Originally posted by Grizz View Post
                My favorite investment is Electric Utility Companies.
                Probably a good investment. Utilities totally raped me while I lived there, they sent the dividends to you.

                Comment


                • See what your Obama Care Premiums will cost BEFORE you sign up.
                  The shocking TRUTH is finally exposed. As we can see "Affordable" is a big fat lie.

                  This list gives premiums by age, family status, etc and by state.
                  https://data.healthcare.gov/dataset/...cape/ba45-xusy


                  BEWARE OF FALSE GOVERNMENT SITES DESIGNED TO STEAL YOUR IDENTITY!
                  More than 700 websites have been created with names playing off of Obamacare or Healthcare.gov, making it likely that some Americans will mistakenly hand over private information to unknown third-parties.

                  For instance, there is a website — www.obama-care.us — that brands itself as part of the "Obamacare enrollment team," directs people to an "Obamacare enrollment form" and asks users for their name, address, Social Security number and other contact information. According to a counter at the bottom of the page, more than 3,000 people have visited obama-care.us.
                  Rest of the story:
                  http://washingtonexaminer.com/obamac...rticle/2537691

                  Grizz
                  Last edited by Grizz; 10-24-2013, 07:48 AM.

                  Comment


                  • Originally posted by KimchiNinja View Post
                    Probably a good investment. Utilities totally raped me while I lived there, they sent the dividends to you.
                    It is the stock market that totally rapes people. Those who are not well educated in trading are very likely to fall victim to market makers intent on stealing your money. ALL stocks routinely suffer shakeout moves designed to separate you from your stock. Big players then move in and take your stock, like taking candy from a baby. The better the stock, the more savage the shakeout will be.

                    IMO, there are very few really good investments. My favorites are utilities, farmland rented out to farmers, income real estate investments, some gold metal NOT in a safe deposit box or bank account where it will be confiscated by government.

                    Gold metal is a worthwhile investment in the unlikely event of hyper inflation. There is a great deal of controversy over whether or not hyper inflation can happen in the USA - IMO it can only happen when the fed starts dumping money from helicopters. IMO, in our debt based economy, hyper inflation is just not possible. Deflation is far more likely and gold will not do well in a deflationary economy.

                    Beware of hyper inflationary laws that get passed by governments, such as a bill in Switzerland to pay every adult $2,800 a year to prevent poverty. If this gets passed, get out of Swiss Franks ASAP... hyperinflation will follow.
                    Behind The Swiss Unconditional Income Initiative - Business Insider

                    Grizz

                    Comment


                    • Originally posted by Grizz View Post
                      It is the stock market that totally rapes people. Those who are not well educated in trading are very likely to fall victim to market makers intent on stealing your money. ALL stocks routinely suffer shakeout moves designed to separate you from your stock. Big players then move in and take your stock, like taking candy from a baby. The better the stock, the more savage the shakeout will be.
                      It depends on what you're talking about. The personal finance industry is mostly terrible, especially when it comes to retirement accounts, financial advisers, and mutual funds. That said, the stock market has been the best wealth builder for the common man. There was no point in time in US history when the stock market, over long intervals, has not provided great returns.

                      Of course, this depends on how you invest. I invest using the most proven methods, which is index funds, and I'm doing it for life. My returns will be the world stock and bond market returns, minus a small percentage for fees. If you go with actively managed funds, or especially if you cherry-pick individual stocks, the returns are a lot riskier.

                      Point is, the stock market can rape the uninitiated, but is actually the best wealth builder available for the typical person, provided you do your due diligence and educate yourself on effective investment methods.

                      Comment


                      • The Obamacare Debacle: It's Everyone Else's Fault

                        As the Congressional hearing, to apportion blame for the farce that Obamacare has already become, gathers steam the overwhelming theme from the four witnesses is "it's not our fault," and as much as the Congressmen dive deeply into the process, the more it is clear that the left hand had no idea what the right hand was doing in yet another government-funded SNAFU. The rest of the story that is a prime example of government incompetence for the history books:
                        The Obamacare Debacle: It's Everyone Else's Fault | Zero Hedge

                        Ice cream plant closes its doors over Obamacare
                        (NaturalNews) There are all kinds of casualties of Obamacare, not the least prominent of which is employment.
                        There are a number of reasons why the job market remains sluggish - cuts in consumer spending, families saving more, government policies and regulatory burdens - but one of the most potent job killers is one that never had to happen at all: Obamacare. Yes, that's right, Obamacare is killing jobs, even if the law's defenders in and out of the White House want you to think it's not. Here's just the latest proof.

                        According to the local Fox network near Michiana, Indiana, a longtime community icon (and employer) is shuttering its operations, thanks to the anticipated high costs imposed by the Affordable Care Act:
                        But the number one factor? The anticipated cost of the Affordable Care Act.
                        This scenario is being repeated all around the country, as businesses choose to close their doors out of realization that they can't afford the mandated premiums, curb hiring because they can't afford to go over the 50-employee threshold or reduce hours of full-time employees to part-time, in order to fall under the 50-employee (full-time) limit.
                        Learn more: Ice cream plant closes its doors over Obamacare

                        According to health policy expert Bob Laszewski, roughly 16 million Americans will lose their current health plans because of Obamacare:
                        Read more at SICK: Millions of Americans Losing Health Plans, Senate Dems To Back Delay, Obama’s Credibility Is Melting | InvestmentWatch

                        10 things Obamacare won’t tell you
                        The health exchanges, central to the law, are also its biggest mystery

                        http://www.marketwatch.com/story/10-...you-2013-09-27
                        Grizz
                        Last edited by Grizz; 10-24-2013, 10:26 AM.

                        Comment


                        • Not sure if this has been mentioned in 45 pages, but if everyone has to register or pay the fine, this is basically a tax for people who are below the poverty line, but live in a state that doesn't extend Medicaid to anyone not over 65 nor to people with no children.

                          If you go to this premium generator: 'How Much Will Obamacare Cost Me?' Try Our Calculator : Shots - Health News : NPR and put in $7500 for income, your premium is 37% of your income, and you're not eligible for subsidy. If you put in $12,000, which is about 4% higher than poverty level, you're eligible for a 90% subsidy. So the part time worker who's living with five other people in a one bedroom apt just to stay off the streets will have to pay the $95 fine.

                          As a note, only about 15 states are definitely or leaning to extending Medicaid. If Grizz's link above is correct and about 16M people are still going to be left without insurance, this "plan" is going to accomplish exactly nothing. This is an ill-conceived plan by people who haven't had to worry about anything since they started stealing their living and benefits by going into politics.
                          "Right is right, even if no one is doing it; wrong is wrong, even if everyone is doing it." - St. Augustine

                          B*tch-lite

                          Who says back fat is a bad thing? Maybe on a hairy guy at the beach, but not on a crab.

                          Comment


                          • How to avoid the Obama Care Penalty:
                            =========================
                            * Become a Mennonite, Amish, Hutterite, or a member of an indian tribe.
                            * Make less than $9,500
                            * Have a "hardship"
                            * Work for a company that only offers insurance plans that costs more than 8% of what you make
                            Here's Who Doesn't Have To Pay The Obamacare Penalty Tax... - Business Insider


                            Here's How Much The Obamacare Penalty Tax Will Cost You...

                            The penalty/tax will be phased in from 2014 to 2016.
                            The minimum penalty/tax in 2016 will be $695 per person and up to 3-times that per family. After 2016, these amounts will increase at the rate of inflation.
                            The minimum penalty/tax per person will start at $95 in 2014 (and then increase through 2016)
                            No family will ever pay more than 3X the per-person penalty, regardless of how many people are in the family.
                            The $695 per-person penalty is only for those who make between $9,500 and ~$37,000 per year. If you make less than ~$9.500, you're exempt. If you make more than ~$37,000, your penalty is calculated by the following formula...
                            The penalty is 2.5% of any household income above the level at which you are required to file a tax return. That level is currently $9,500 per person and $19,000 per couple. The penalty on any income above that is 2.5%. So the penalty can get expensive quickly if you make a lot of money.
                            However, the penalty can never be more than the cost of a "Bronze" heath insurance plan purchased through one of the state "exchanges" that will be created as part of Obamacare. The CBO estimates that these policies will cost $4,500-$5,000 per person and $12,000-$12,500 per family in 2016, with the costs rising thereafter.
                            So, basically, you're looking at penalties of approximately the following at the following income levels:

                            Less than $9,500 income = $0
                            $9,500 - $37,000 income = $695
                            $50,000 income = $1,000
                            $75,000 income = $1,600
                            $100,000 income = $2,250
                            $125,000 income = $2,900
                            $150,000 income = $3,500
                            $175,000 income = $4,100
                            $200,000 income = $4,700
                            Over $200,000 = The cost of a "bronze" health-insurance plan
                            The IRS will collect the penalty-tax, a fact that will no doubt further enrage those who hate Obamacare.

                            But here's some more good news for those folks:

                            The IRS will not have the power to charge you criminally or seize your assets if you refuse to pay. The IRS will only have the ability to sue you. And the most the IRS can collect from you if it wins the suit is 2X the amount you owe. So if you want to thumb your nose at the penalty-tax, the IRS won't be able to do as much to you as they could if you refused to pay, say, income tax.

                            By the way, the following folks will be exempt from the penalty-tax:

                            Those who make less than $9,500
                            Employees whose employers only offer plans that cost more than 8% of the employee's income
                            Those with "hardships"
                            Members of Indian tribes
                            Members of certain religions that don't pay Social Security tax, such as Amish, Hutterites, or Mennonites
                            And, of course, Obamacare isn't free. So, whether you pay the penalty or not, you're going to have to pay a lot of other taxes to pay for it. Here they are >
                            More;
                            Read more: How Much Is The Obamacare Penalty Tax? - Business Insider

                            ee8e1a906ad31d2bb4d393e7b7ae4bbb.jpg

                            I have several friends who have left the USA to avoid the confiscatory taxation, and several other friends who wish they could leave the country, but their wives want to stay for their children.

                            After Obama Taxation, it does not pay for many people to work. Welfare is looking more attractive with each new tax levied on Americans. Socialism does not work. Who will be left to pay taxes when everyone not working for the government is on welfare? Did you know that Obama Care will even tax the sale of your house?

                            Grizz
                            Last edited by Grizz; 10-25-2013, 02:01 AM.

                            Comment


                            • Thanks for the correction, Grizz.

                              Still, it's bizarre that $9501 is well below poverty, yet the penalty applies anyway.
                              "Right is right, even if no one is doing it; wrong is wrong, even if everyone is doing it." - St. Augustine

                              B*tch-lite

                              Who says back fat is a bad thing? Maybe on a hairy guy at the beach, but not on a crab.

                              Comment


                              • Originally posted by Grizz View Post
                                How to avoid the Obama Care Penalty:
                                =========================
                                * Become a Mennonite, Amish, Hutterite, or a member of an indian tribe.
                                Grizz
                                Russell Means - Lakota Declares Its Sovereignty Just Wondering - Alternative News and Opinions Just Wondering – Alternative News and Opinions


                                From the article:

                                The new country would issue its own passports and driving licences, and living there would be tax-free — provided residents renounce their US citizenship, Means said.
                                I would renounce my US citizenship in a heartbeat if I had citizenship somewhere else. Wonder if the Lakota nation is taking applications for citizenship?
                                Randal
                                AKA: Texas Grok

                                Originally posted by texas.grok
                                Facebook is to intelligence what a black hole is to light
                                http://hardcoremind.com/

                                Comment

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