Tag Archives: investment

401Ks and IRAs touring Atlantis

Speaking of savings and shell games.

Privatizning the Social Security Administration ought to seal things up.  Close the doors and call the law to get the vagrants off the streets.

Privatizing the Social Security Administration ought to seal things up. Close the doors and call the law to get the vagrants off the streets.

My friend Rich worked most of his life for one of the phone companies going around testing and fixing whatever the hell goes wrong with them.  Spang came nigh unto getting runned over by out-of-control cars, getting electrocuted, all the dangers of being a working man.

But he was prudent.  Constantly did the wise, advised thing every month, investing in 401K and IRAs just as wise advisors said a person ought to so’s to have some security in old age retirement.

Had himself a comfortable pile of money in there when it came retirement time, looked forward to his remaining years without financial worries or woes.

Then he noticed his money was going away without him touching it.  Spang, suddenly the value of his 401Ks and IRA shrunk, then shrunk some more, vanished into the Twilight Zone.

Hell of a bargain for him because he didn’t have to go to the trouble of spending it.  Whatever the hell happened to that money, evidently someone somewhere else who didn’t go to the trouble of saving it must have stuck in his pockets, bought a new Mercedes, snorted some really good stuff.

So now old Rich draws his Social Security pension and tries to live on it, same as so many others.  Doesn’t have to worry about what kinds of things he might buy if he had that money.

All he has to worry about now is whether the US government will keep paying him his Social Security pension, or whether they’ll turn it over to the same people who handled his 401Ks and IRAs.

Life goes on.

Old Jules