Comments on: Emptying the Recycle Bin of My Mind

By: Lazy Man

Lazy Man — Fri, 29 May 2009 23:08:26 +0000

I don’t know if I’m that concerned about them getting it right by a year or two. I’m sure the projection won’t be entirely accurate. Yet, I’d like to see a plan in place that secures assets won’t be depleted for those paying into the system now… and it should project for a lot longer than that.

The article was quick to mention that SS wouldn’t stop… just that the current assets would be depleted.

By: Jim

Jim — Fri, 29 May 2009 20:58:21 +0000

Lazy, yes the SS funds have been moving in the wrong direction. But keep in mind this is a projection about what will happen 3 decades from now. A decade ago they were guessing a number that they’ve since decided was a decade off. Its got a big margin of error. If their guess 10 years ago was 10 years wrong then what confidence should we put in their guess today?
This number is also based on moderate assumptions about the economy. If the economy performs a little better then we’ll never run out of money.

If/when SS trust does run out of money that doesn’t mean SS benefits will stop. They’ll just not be able to fully fund the obligations without taking out debt (they aren’t shy about doing that) , reducing benefits or raising taxes.

By: Matt

Matt — Fri, 29 May 2009 15:12:46 +0000

“Still, I would think that 33 bottles a day is a little excessive.”

True. But when I first read it, I was thinking, “How is that even possible to drink 160 botles in one day, everyday?”
33 bottles is a lot of water, but at least it seems possible.

By: Kosmo @ The Casual Observer

Kosmo @ The Casual Observer — Fri, 29 May 2009 12:57:31 +0000

Traciatim – you’re right about Wednesdays. With my work schedule, I get 1 day off every two weeks. It’s Mondays now, mostly because with a family, Monday (or Friday) make the most sense. When I was single, I took Wednesdays off for a while. Having 2 mini weeks was nice.

By: Traciatim

Traciatim — Fri, 29 May 2009 09:52:18 +0000

“I can’t decide what is better, having Monday off or the quick week that follows it”

You know what’s even better… taking Wednesdays off. No one really expects it, but it’s pretty similar to taking the whole week off. Monday you come in and just ramp up catching up from the weekend. Tuesday you are ramping down already making sure work gets taken care of on Wednesday, then you’re off. Thursday-Friday is just like Monday-Tuesday. There are never any peak days all week long, it’s fantastic.

By: Lazy Man

Lazy Man — Thu, 28 May 2009 23:34:51 +0000

Yep my math was faulty. My original number saying that it was 330+ bottles was off. That lead to the poor math of the 160 bottle number.

Still, I would think that 33 bottles a day is a little excessive.

By: Matt

Matt — Thu, 28 May 2009 22:57:14 +0000

Having a hard time following your math on Madonna’s daily water usage.

Am I missing something.

At $10 bottle (after shipping), isn’t that 1000 bottles/month or 1000/30 = 33 bottles per day?

By: Kosmo @ The Casual Observer

Kosmo @ The Casual Observer — Thu, 28 May 2009 19:15:14 +0000

I wouldn’t worry too much about the title of the Social Security article. It’s a moronic and shortsighted article.

I wish I could find it again, but there is a place on the SS web site that has tables to show you projected rate of return based on age, earning, and marital status. For my situation, I think it was something like 2.3% (note: this is the return on the combination of the employee and employer shares).

If I stumble across the table, I’ll post a link. I’m just not able to figure out the magic Google combination today.

Over the long term, my 401(k) is going to blow that away.

By: Lazy Man

Lazy Man — Thu, 28 May 2009 19:10:47 +0000

Except for the fact that (according to the article) last year assets were expected to be exhausted in 2041… this would mean things are moving in the wrong direction.

By: Jim

Jim — Thu, 28 May 2009 18:53:19 +0000

“that assets will be exhausted when I turn 61 (2037).”

In 1997 they expected the trust funds to run out in 2029. Now 12 years later we’ve got until 2037. If that trend continues in 2037 they’ll be saying it will run out in 2057.