The individual retirement account where yanks put what the rest of the world would call their social security fund.Originally Posted by Leon
They have some liberty as in they can shop around management options for those funds.
The individual retirement account where yanks put what the rest of the world would call their social security fund.
They have some liberty as in they can shop around management options for those funds.
acket.
Is your social security privatized?
Mexico has a convoluted system. Some benefits are independent from work status. Some others (health and child care, mostly) depend on who your employer is (they're all provided by state institutions, though), and pensions are managed by administrators. Strangely, that also includes the housing account which, on a lottery system, is adjudicated thru another government agency.
AFAIK management of retirement accounts vary wildly from country to country.
acket.
For what it's worth, as a federal employee my retirement comes from three sources. That 401(k) (actually called a TSP, but functionally the same), the pension I pay into, and social security. I then augment that with IRAs with different tax advantages to balance things out.
Pensions generally are in decline across all industries in favor of 401(ks).
Social security is going to be insolvent before I get there.
A thread in my honor? Well I am quite honor...oh, wealth and all that shit.
Really, we need more threads in your honour.
This thread is making me realize just how long our community has been around. Joined at 17ish, and now I’m sitting here talking about retirement and shit.
I have three main pillars to retirement planning
1 - Superannuation (tax effective retirement saving so kinda sorta like 401k). I was a bit slack earlier in life but catching up now and aiming to have about 2m Aussie in this when I retire, thats my main vehicle for retirement saving. For kiwi, just save early, save often and shove it into growth funds. Don’t try to pick stuff, you’ll cock it up more than you’ll get it right
2 - GT Porsches. Over 20 years these increase in value and are tax free. And fun. Wooooooo
3 - Girlfriend is 20 years younger than me. By the time I retire she’ll be in peak earning phase and I can be a kept man with GT Porsche’s to play with and enough income to buy the drinks.
I can’t see what could possibly go wrong
I managed to do that okay, given that I've never been on a very good money. But I'm 46 knocking on 47 now.
Though, to be fair, I'm not sure why I'm bothering given that I reckon it'd take a miracle of some variety for me to get past 65 anywayOld age doesn't usually run in my family.
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