General Discussion

buzzroller

(67 posts)

14. You should know

Fri Dec 28, 2012, 08:55 AM

Dec 2012

that private pensions, IRAs, 401Ks, depending on the investments in them and the amounts, are not completely insured. The FDIC amount was raised to $250,000 until the end of 2013, but stocks for example are not covered. The amount was raised after it was apparent that large financial institutions could go bankrupt. The FDIC is a government program as well.

There are many ways a person can be separated from their money, but to assume
the private sector is safer than the government is not backed up by history, in my opinion.

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16 replies

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Highlight:

Don't Cut Social Security -- Double It [View all] xchrom Dec 2012 OP

That's exactly what ought to be done. Increase benefits since the money sabrina 1 Dec 2012 #1

Not double it exboyfil Dec 2012 #2

I would lower the age for full benefits Sherman A1 Dec 2012 #4

Hear. Hear. We paid into Social Security all of our life. In_The_Wind Dec 2012 #3

There are many who are trying to live on $616 ss benefit per month. Could you? MrYikes Dec 2012 #5

And just where would the money come from to do that? customerserviceguy Dec 2012 #6

How about.... Demo_Chris Dec 2012 #8

And when you eliminate the cap on wages taxed customerserviceguy Dec 2012 #9

Exactly buzzroller Dec 2012 #7

Take away deductibility of retirement plan contributions customerserviceguy Dec 2012 #10

But buzzroller Dec 2012 #13

Exactly, people with 401k's and IRA's would rather trust the government SS system hughee99 Dec 2012 #11

You should know buzzroller Dec 2012 #14

I do know. I have an IRA, a 401K and pay into SS. hughee99 Dec 2012 #16

It'd be good for the economy, too. Octafish Dec 2012 #12

+1, nt. Mc Mike Dec 2012 #15