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How much money do you have saved up?😳
Subject Expert
Chief
Hey Fishes
Can anyone share Mutual Fund schemes in their Portfolio?
I am a newbie and planning to start investing via SIP's in MF ( Around 4-5 SIP's of 10k each)
Thanks in advance.
Wipro Infosys Persistent Systems Limited Tata Consultancy Cognizant HCL Technologies Amazon Microsoft EY Deloitte PwC KPMG Optum JPMorgan Chase Morgan Stanley
Rising Star
Chief
Does 125k in Bonvoy points get you much?
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Lack of knowledge is only one factor. There are many Americans who understand retirement plans but cannot afford to contribute.
Rising Star
Oh jeez, guess you’ve ignored all the recent debates around minimum wage and how many people don’t make enough to even survive let alone save
Everyone is ignoring Switzerland’s incredibly restrictive immigration laws for non-white collar, non-high earners. As a result, vast majority of blue collar jobs are restricted to small local labor force which drives up wages for semi skilled labor. Simultaneously they import high wage white collar workers at very high per capita rates, using these non-citizens tax revenues to subsidize social spending. It’s an excellent system that benefits everyone (except low income, low skill immigrants/refugees banned from entering the country), but not feasible to replicate at scale in the US or anywhere else
Yes, blame all of America’s problems to immigration! Hah! Someone like Elon Musk who immigrated from Africa has been a jackpot for the US. we did not pay for his education, we did not pay for his benefits, and look at the wealth and IP he has created for this country. America is far better off today because of strong immigration. He came to America, not Switzerland, because of the flywheel effect of immigration attracting the best and brightest for decades to places like Silicon Valley.
Chief
To each is own I guess. I would opt out of social security if I could, I could do better private sector with that $.
Chief
It's not just an education problem.
There are people whose employers don't offer 401k plans (only ~50% of employers offer them off the top of my head) and people who can't afford to contribute to a 401k even if their employer offers one.
I was one of the latter early in my career. I spent the first two years living 100% paycheck to paycheck and my expenses were budgeted down to the penny; they left no room for 401k contributions, and I was objectively better off financially than quite a few people in that region.
The corporate lobbying effort leading to the move from a “Defined Benefit” aka pension, to a “Defined Contribution” aka 401(k) society has been one of the most severe, yet least talked about travesties inflicted on our nation, right up there with the gutting of the VRA, gutting of public education, Citizens United and the extremely loose interpretation of the 2A. It takes a strong committment to financial education, patience and awareness in the prevailing situation and the average american working a min wage job can just not be expected to have that savviness.
Rising Star
To be clear, the issue isn't the pension itself causing problems, it is poor financial management on the part if executives. Getting rid of pensions is much easier than getting senior management to pay up to fund their promises, so I can see how framing the issue that way is common, but let's not blame the pensions themselves for this issue.
Taxed more? You sure we’re talking about the same Swiss tax regime?
🤔
Forced savings under social security are a time bomb that will never pay out for us. Anything adding on top of that program is more out of my pocket and into the aether.
Fewer*
Stannis The Mannis!
Rising Star
How do you go from 'Swiss millionaires' to 'we should pay more taxes for education'?
With the amount of debt that US have right now. I am not sure how can they give out the same benefits 5-10 years from now ..
How long ?