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View Diary: Paul Ryan Laughs About His Plan to "Personalize" (Destroy) Social Security (62 comments)

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  •  This happened to my Dad (5+ / 0-)

    Who had a very decent fixed-income City Pension from the City of Boston after a 42 year career, which meant he only had minimal Social Security benefits.  About $300 a month.

    He lost a great deal of his retirement in the downturn.  I ended up spending 2/3 of 15 years of my savings to help support him (mostly to supplement his health care and independent living needs) because he was counting on those carefully saved earnings to supplement his needs in his golden years

    Does this mean he failed at being a Romney/Ryan Capitalist?  An outcast of the Capitalist society?

    (Oh - he also worked (taught for a tiny honorarium and volunteered) until the day he passed away at 91.

    One of the 47%.  

    "When a man tells you that he got rich through hard work, ask him: 'Whose?' Don Marquis

    by hopesprings on Thu Sep 20, 2012 at 08:35:46 AM PDT

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    •  I Guess You're Supposed to Watch (1+ / 0-)
      Recommended by:
      FiredUpInCA

      The economy so you can buy and sell your assets at the right time...

      From what I understand, learning how to successfully day-trade costs something on the order of 20K in losses as you learn, and slower trading probably also has a learning curve.

      It would help if we weren't stuck in a zero-interest-rate environment (remember the old days when you could stick money in a CD at 7%?), but increased interest rates would seriously mess up a lot of budgets, both household and government.

      •  He knew nothing about money (0+ / 0-)

        and didn't care.  He was an absentminded professor.  Absolutely off the charts brilliant in his small field but useless in daily life.  It's amazing that he was as careful as he was...at least going in to his retirement.

        As he got into his 80's, I believe he was taken advantage of here and there, by his stockbroker, by his mortgage banker...but he wasn't in the kind of mental place to be able to be making stock market decisions.

        "When a man tells you that he got rich through hard work, ask him: 'Whose?' Don Marquis

        by hopesprings on Fri Sep 21, 2012 at 08:51:58 AM PDT

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