Quote:
Originally Posted by freebeard
I value personal sovereignty as well, but I humbly accept the Social Security check. It's all I have to show for all that effort. If I was any good with money I would have swapped my Symantec options for Apple stock and rode that for ten years. Then roll that into Bitcoin in 1012. I can't even afford to be unhappy about having not done.
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Eh, if we had hindsight for foresight, we'd all be billionaires. The legitimate professional money managers, on average, return average profits to their clients (minus their fee for all their genius). The way to make it big in financial markets is insider trading, or some other unfair advantage that isn't illegal yet like monitoring trading activity and placing orders on faster communication lines. The wisest way is probably to invest in no-load index funds and cut out the investment "guru" middlemen.
I've got low regard for the fortunes made by winning a bet, and high regard for those who have worked hard to provide something of value in the market. Better to make a fortune than to win a fortune.
I don't know what to think of Social Security at the moment. It does fit in with my idea that a custodian be responsible for some people's financial decisions, but I don't like that it's obligatory. Perhaps SS should be voluntary. I'd happily forfeit my SS contribution so far in exchange for not having to pay into it anymore. I would be miles ahead at retirement, and be able to say that I made a positive contribution at keeping SS solvent.