I like that she acknowledges and cares that the majority of people depend on social security and live a very different life from the wealthiest. There is reality added into the conversation.
Teresa, I certainly agree with your Eriksonian take regarding the last stage of self satisfaction versus despair. Our society enables individual despair. I think Tom is totally disconnected with harsh reality regarding the majority of people.
Great discussion...Teresa and I disagree politically yet share some principled concerns but not the solutions. Once that common ground is established conversations can productive.
Excellent comments and, I agree with you 100 percent. Forget about everybody else, the only thing that really counts is, what you decide to do financially for yourself and your family. Also, wealth even as a certain dollar value in your investment, retirement, and bank accounts is very subjective. Prefer to use the term financially comfortable which, for myself is as follows: I would buy Bitcoin and buy hard assets like gold /silver as a store of value while also actively trading.....managed to grow a nest egg of around 100k to a decent 432k in the space of a few months... I'm especially grateful to Francine Duguay, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.
Excellent content. I'm a Boomer that never understood completely why the qualified defined benefit plan disappeared. I understand guaranteeing the replacement of a lg % the retiree's income with just a SS offset was expensive and risky. But why not ladder or encourage stacking benefits with say the eligibility for the DB plan at xx years of service as a carrot or reward for longer service. Also formula % could much lower say 25% to still encourage Ee savings, IRA, etc. With the 401(k) Congress simply moved responsibility and liability for retirement from the employer (their campaign supporters) to the employees (nobodies that "just" pay taxes) with no concern for ensuring retirement savings is even occurred. My dad was a lump sum payout DB millionaire. His prematurely widowed daughter is pretty much broke. Repealing the (Un)Affordable Care Act would be a blessing with a return to major medical coverage that makes costs transparent and care responsive to the employee patient.
401k works for those who take full advantage(most do not)...it is simple math....HOWEVER it locks up your money . My kids are being taught to not solely invest via a 401K...wealth that cannot be touched is not real wealth until it can be touched.
What was said about the importance to know what is available to seniors, such food stamps, can be a great help to people. In the City I live in, the wealth gap has increased dramatically and you see senior women out bottle collecting to be able to pay rent.
How about opening up Health Savings Account to more of us. ..and corporations could offer a high deductible plan and contribute a large amount to either fully or partially cover the deductible... many of us would "retire" (from a job we don't like) early but health insurance (while our system is broken) is a blocking factor for too many.
It’s true that social security was meant as a supplement. However, during that time the concept of family existed. Our society took a detour underlined by induced social norms where the families disintegrated, and many types of community divisions. This is why the individual depends on social security. The divisions were benefiting government and the 1% and no one else. People depend on social security.
Social Security could easily be phased out over 40 or 50 years without rug-pulling those who are or soon will be dependent and our kids and grandkids will be unshackled from the abysmal ponzi scheme that Soc. Sec. Insurance (not soc.sec. retirement)
Corporatacracy DEI and corporate nonsense drives many to seek retirement, whether it is investing time in Family that corporate America career path restricts, and/or doing what we love you help the world for less income and less stress.
Social Security could easily be phased out over 40 or 50 years without rug-pulling those who are or soon will be dependent and our kids and grandkids will be unshackled from the abysmal ponzi scheme that Soc. Sec. Insurance (not soc.sec. retirement)
This was a great discussion. I agree everything of what Tom said!!
I like that she acknowledges and cares that the majority of people depend on social security and live a very different life from the wealthiest. There is reality added into the conversation.
I disagree with increasing the payroll tax eventually it goes down to the consumer in higher prices
Awesome and much needed content, thank you
Teresa, I certainly agree with your Eriksonian take regarding the last stage of self satisfaction versus despair. Our society enables individual despair. I think Tom is totally disconnected with harsh reality regarding the majority of people.
Thanks for the financial information Tom Wheelwright and Rich Dad Team.
Great discussion...Teresa and I disagree politically yet share some principled concerns but not the solutions. Once that common ground is established conversations can productive.
Excellent comments and, I agree with you 100 percent. Forget about everybody else, the only thing that really counts is, what you decide to do financially for yourself and your family. Also, wealth even as a certain dollar value in your investment, retirement, and bank accounts is very subjective. Prefer to use the term financially comfortable which, for myself is as follows: I would buy Bitcoin and buy hard assets like gold /silver as a store of value while also actively trading.....managed to grow a nest egg of around 100k to a decent 432k in the space of a few months... I'm especially grateful to Francine Duguay, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.
She often interacts on Telegrams, using the user-name...
@FrancineDuguay .
Thanks for keeping it light and real at the same time. Much needed for us traders in times like these!
The internet is filled with so many useful information about Francine Duguay crypto….
This is why it is advisable to connect with a true market strategist in order to avoid missing such opportunity and maintain steady gains.
Excellent content. I'm a Boomer that never understood completely why the qualified defined benefit plan disappeared. I understand guaranteeing the replacement of a lg % the retiree's income with just a SS offset was expensive and risky. But why not ladder or encourage stacking benefits with say the eligibility for the DB plan at xx years of service as a carrot or reward for longer service. Also formula % could much lower say 25% to still encourage Ee savings, IRA, etc.
With the 401(k) Congress simply moved responsibility and liability for retirement from the employer (their campaign supporters) to the employees (nobodies that "just" pay taxes) with no concern for ensuring retirement savings is even occurred.
My dad was a lump sum payout DB millionaire. His prematurely widowed daughter is pretty much broke.
Repealing the (Un)Affordable Care Act would be a blessing with a return to major medical coverage that makes costs transparent and care responsive to the employee patient.
Hi Tom you are an inspiration to me my name is Roman from Miami
401k works for those who take full advantage(most do not)...it is simple math....HOWEVER it locks up your money . My kids are being taught to not solely invest via a 401K...wealth that cannot be touched is not real wealth until it can be touched.
Agreed 🎯🎯💯💯
What was said about the importance to know what is available to seniors, such food stamps, can be a great help to people. In the City I live in, the wealth gap has increased dramatically and you see senior women out bottle collecting to be able to pay rent.
How about opening up Health Savings Account to more of us. ..and corporations could offer a high deductible plan and contribute a large amount to either fully or partially cover the deductible... many of us would "retire" (from a job we don't like) early but health insurance (while our system is broken) is a blocking factor for too many.
It’s true that social security was meant as a supplement. However, during that time the concept of family existed. Our society took a detour underlined by induced social norms where the families disintegrated, and many types of community divisions. This is why the individual depends on social security. The divisions were benefiting government and the 1% and no one else. People depend on social security.
Social Security could easily be phased out over 40 or 50 years without rug-pulling those who are or soon will be dependent and our kids and grandkids will be unshackled from the abysmal ponzi scheme that Soc. Sec. Insurance (not soc.sec. retirement)
Most people get pushed out. We do not have enough jobs to support everyone till they die.
Corporatacracy DEI and corporate nonsense drives many to seek retirement, whether it is investing time in Family that corporate America career path restricts, and/or doing what we love you help the world for less income and less stress.
Did i hear well? She said about tacing rich like musk??? I might be wrong tho
Id never suspec to that to hear on kiyosaki channel!
Avoid tax! Always
"Make them pay" = Steal their earnings and give them to someone else.
Tom interviewing is not your calling. I felt so bad for your guest who could barely get a word in between your lectures and unmovable positions.
Stop hating on us government employees lol.Btw, I will get a pension from my former employer (Kaiser) and they are a PRIVATE-sector employer.
Trump Gabbard 2024!!!!
Fake news
Boring information
women food stamps entitlements 🤔🤔
Fake
Social Security could easily be phased out over 40 or 50 years without rug-pulling those who are or soon will be dependent and our kids and grandkids will be unshackled from the abysmal ponzi scheme that Soc. Sec. Insurance (not soc.sec. retirement)