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And with the national savings rate being at around 2% I think this entire discussion is moot.
Tax Relief and Health Care Act of 2006
- Thread starter James
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john_petrowski said:
No the last I seen we were in negative territory in national savings rate. So I think any savings is better then no savings. Yet you and others still want the attitude that this savings account is better then that one, just creating more anxiety which leads into less savings. Just as the CFP Board has acknowledged, confusion breeds contempt. Still though, back in the day that Sti reference what was the savings rate at compare to today as in after the laws that has so benefited the Securities side of the equation? Well let me inform you they have fallen drastically! Now is their a common factor we can contribute to this societal change? Is it attitude that has been espouse by the Security side and the sex appeal of the IRA that was so pushed by the media (that has confuse most and lead to declining participation in savings) or the national government penalizing savings via tax codes. Oh hell, lets just blame the Credit Card Companies, that always nice to do!
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[email protected] said:
I would imagine that is going to change real quick!
- 135
James Wrote: "One doesn't invest to retirement one saves. I think the word of investment or investments have been taken way out of context of what they really mean."
I agree that we have (in every profession) become too comfortable in using positively connoted words to replace words that don't provoke the same "buzz" in the ears, but... To suggest that one only saves for retirement and doesn't invest, is missing out on a majority of what could have been saved otherwise. For the people that do a good job saving for retirement, the actual contributions are a much smaller piece of the pie than the good investment returns.
I agree that we have (in every profession) become too comfortable in using positively connoted words to replace words that don't provoke the same "buzz" in the ears, but... To suggest that one only saves for retirement and doesn't invest, is missing out on a majority of what could have been saved otherwise. For the people that do a good job saving for retirement, the actual contributions are a much smaller piece of the pie than the good investment returns.
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We can play word games till the cows come home but, sooner or later one has to realize that "Investment" is the action of creating wealth and "Savings" is the preservation of ones money. Once you understand that then everything else falls into place.
Plus lets face it, "Retirement" is a myth for the vast majority. A fairly new idea that is borned out of overindulge society.
Plus lets face it, "Retirement" is a myth for the vast majority. A fairly new idea that is borned out of overindulge society.
- 135
And yet if most people only had savings for retirement, they would be forever unprepared to do so.
Retirement isn't a new concept borne from an overindulgent society, but retirement has certainly changed over the years as individuals have less and less of a need to farm and hunt for sustenance.
Retirement isn't a new concept borne from an overindulgent society, but retirement has certainly changed over the years as individuals have less and less of a need to farm and hunt for sustenance.
- 14,808
I'd love to see the numbers on how much money my average client has put into their HSA account. I'd be willing to bet money that over 95% haven't even approached max funding it.
I do indeed sell a lot of HSAs but client couldn't be more disinterested when I tell them they can choose from mutual fund familes. They just want enough money in the account to offset out of pocket medical expenses and they want the money to be guaranteed and liquid.
I do indeed sell a lot of HSAs but client couldn't be more disinterested when I tell them they can choose from mutual fund familes. They just want enough money in the account to offset out of pocket medical expenses and they want the money to be guaranteed and liquid.
I am looking for definitive numbers, but this quote seems to track with what I have seen in the past.
http://www.hsafinder.com/01-06_4.shtml
I seem to recall that something like 80% of folks with the HDHP fail to fund their HSA. This is really not surprising.
http://www.hsafinder.com/01-06_4.shtml
I seem to recall that something like 80% of folks with the HDHP fail to fund their HSA. This is really not surprising.
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Steve said:
No, retirement wasn't heard of before the Great Society. As in people didn't have money to retire before that. Retirement historically has been a device of the wealthy.
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