Hi GoofyI'm not proposing that the person save AFTER tax monies... I'm proposing that the govt take the monies that WOULD be paid to SS and income tax for a few years and put those monies into a nontaxable account, such as an IRA or 401k or some such. i.e. the person pays no SS or income tax... that money is put into an account for that person's future needs.No, it will not save 20,000/year but it WILL save close to 2500/year and in 8 years that will add up to 20,000. This could serve as the nest egg needed for compound growth to mature into a sizeable retirement fund. SS is reportedly set up for a fall in a few years... we need to be looking at alternatives so that todays young folks have a 'plan b'...I don't see 'means testing' or any of the other 'fix it when they get old' strategies successfully meeting the retirement needs of the young people who are just starting their work life...:-)fwiwralph
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra