This is for my retirement fund. The more I read about retirement (lack of cash flow vs inflation, especially), the more I want to build as large a cushion as possible. I really feel for kids today (by saying kids, I mean anyone from 0 years old to mid lifers who haven't started saving yet), as there's no one actively looking out for their welfare. Social Security was a mistake, but the Feds should actively encourage people to vigorously save on their own. If I were king, I would propose mandating everyone put away at least 5%, and up to 100%, per pay period in pretax dollars. It would grow tax free and couldn't be taken out any sooner than 3/4ths of the current typical life span (say todays life span is 85. 3/4ths would be about 64 years old). Have the SSA deposit whatever each individual has had deducted net of any disbursements into whatever savings vehicle the individual wants to kick the retirement account off to a good start. Whew!! Sorry about that. I get carried away.
2007-10-12
04:18:09
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4 answers
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asked by
apeakay
2
in
Personal Finance