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| Given the deep/deepening recession, do you think it was wise | |
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| Tweet Topic Started: Nov 30 2013, 10:46 PM (3,478 Views) | |
| Banandangees | Dec 8 2013, 11:12 PM Post #131 |
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Fire & Ice Senior Diplomat
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But don't you think that Pat's $2.5 million would have covered the hip replacement; or the more than likely... hood, that he would have purchased some private health insurance with that money in his 60s and still be way far ahead. And don't you think that there is a great possibility that before his Medicare years that his employer would have covered him as a benefit of employment which was very common. Your last sentence is where the speculation really lies (IMO), are you saying that over the entire time period that Pat paid into SS and Medicare, a period which could very well have been over a 50 and 40 year period respectively, that his investing all those saving for all those years could not have reached $200,000? |
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| Mountainrivers | Dec 8 2013, 11:36 PM Post #132 |
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Fire & Ice Senior Diplomat
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Nobody knows, so arguing about it is silly. |
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| Neutral | Dec 8 2013, 11:42 PM Post #133 |
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Fire & Ice Senior Diplomat
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So why did you? |
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| Mountainrivers | Dec 8 2013, 11:53 PM Post #134 |
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Fire & Ice Senior Diplomat
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Because I wanted to, asshole. |
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| Neutral | Dec 8 2013, 11:58 PM Post #135 |
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Fire & Ice Senior Diplomat
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Says the same guy who just posted this: "Nobody knows, so arguing about it is silly." Lay off the junk for awhile. |
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| Mountainrivers | Dec 9 2013, 12:00 AM Post #136 |
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Fire & Ice Senior Diplomat
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It was silly. Have you never been silly? Oh yeah, you always are. |
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| Banandangees | Dec 9 2013, 12:09 AM Post #137 |
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Fire & Ice Senior Diplomat
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I'm sure there are plenty of investment experts (councilors) and brokerage firm people who could cite many cases where such funds (of any source) equal to Pat's scenario have increased to $200,000 over a 40 to 50 year period. |
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| Mountainrivers | Dec 9 2013, 12:11 AM Post #138 |
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Fire & Ice Senior Diplomat
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Has anybody said it was impossible? NO! What we've said is it's unlikely. |
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| colo_crawdad | Dec 9 2013, 12:14 AM Post #139 |
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Fire & Ice Senior Diplomat
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I do hope all realize that when Medicare came into being in 1966 the payroll tax was 0.35%, payable by both the employee and employer on the first $6,600 of the employee's wages. Do the math and tell me how much anyone has paid into Medicare over the last 41 - 50 years. |
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| Mountainrivers | Dec 9 2013, 12:39 AM Post #140 |
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Fire & Ice Senior Diplomat
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A little research indicates that the maximum amount on which one could have paid into SS and Medicare since their inception is $$2,380,100. At the current rates, that person would have paid in $364,156. However, for most of the time since inception, the rates were much lower, so it's hard to say whether or not someone actually paid in $250,000. Maybe someone else is interested enough to look up the appropriate rates and assign them to the total amount that could have been contributed. |
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