published Thursday, February 4th, 2010

The Retirement Plan

16
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anonymight said...

I have several kids. They are my retirement plan.

February 4, 2010 at 12:50 a.m.
woody said...

In a "Perfect World", Anonymight, yours would be 'the answer.'

I imagine, in generations past, large, closeknit families may have played a large role in a long, enjoyable retirement. However, times, they are a-changing.

I am a regular player of the Tennessee Lottery, but for wholly different reasons than I might have had as a youth. Back then I loved gambling against 'the odds', thinking I would wake up some morning with the world "as my oyster."

Today, however, the fact that I was able to wake up is the blessing. Given that new opportunity to go out and make a difference once again is my "big lottery win."

But, hey, if I should be allowed to wake up a few million richer that's nothing to sneeze at either.

Playing responsibly, Woody

February 4, 2010 at 6:10 a.m.
EaTn said...

I used to play the lottery in other states but never have in Tenn. My feeling is that it, like the sales tax, is a regressive tax on the backs of those who can least afford it. Even worse, many of these folks are playing the lottery as a last resort effort- using money badly needed for necessities. Retirement no, getting past next week, hopefully.

February 4, 2010 at 6:41 a.m.

Humans have a need to control their lives. The sad thing is we can't whether rich or poor. Retirement can be quite good or it can be hell, regardless of income.

The recent story of the poor, homeless guy in Florida who won 30 million in the Lottery and then was murdered for his money, comes to mind. I've seen both rich and poor leave this world. Many wealthy have had too many money worries and infighting amongst family over material possessions at the end of their lives. Their homes are like cold caverns and their children hate them. On the other hand, I've known poor families who have incredible love for each other and know what true intimacy means. No Lottery ticket can buy that. Or good health.

February 4, 2010 at 8:54 a.m.
pmcauley said...

Hey no fair, this is a recycled cartoon. I know because I had the old one on my office door.

LOVE your stuff and agree with just about all of it!

Thanks.

February 4, 2010 at 10:38 a.m.
bobw said...

as my daddy used to say: "the lottery is an idiot tax"

also, even if you dont play, you have about the same chance of winning.

February 4, 2010 at 10:47 a.m.
nucanuck said...

I see Clay's cartoon a little differently. Maybe the suggestion is that,in the current economic environment,there is no reasonable,safe way to prepare for retirement.

Unless you have mega-millions deposited in places like Hong Kong,Singapore,and Luxembourg,physical precious metals held privately,and possibly a high degree of savvy in commodity investment,then you are probably at risk of losing much of the purchasing power planned for your retirement.

Whether you have government pensions,savings accounts,investment accounts,stocks or bonds;there is no longer a safe place to protect your purchasing power. Oh,you may still have the same number of dollars,but their purchasing power may become a small fraction of current value. Government options dealing with debt and demands have forced the almost certain massive monetization of debt,which means that what you buy will cost more and more without a counterbalancing increase in income or assets.

I think Clay is reminding us that our investment options have all become gambles,similar to the lottery.

February 4, 2010 at 12:19 p.m.
woody said...

Canary, I agree wholeheartedly, and what you said would have made a great episode for "The Waltons."

As far as the, "...idiot tax..." remark, Bob, true..true. However, as may be attested to above, there are only two ways to actually lose when it comes to the lottery.

1.Don't buy a ticket, or, 2.Win and not know how to spend your winnings if you do win.

Just paying my taxes (idiot and otherwise), Woody

February 4, 2010 at 12:21 p.m.
Musicman375 said...

The thing I dislike most about the lottery here in TN is that there is (or at least there was the last time I studied this) a rather large surplus of funds generated which aren't being spent on education.

Many college students are not keeping up the grades required to retain their scholarships, even after the requirements have been reduced multiple times, but the unspent college monies still haven't been reallocated to our public, primary and secondary schools.

I cannot understand why the unused money is not being used in some other educational capacity. The fact that the state is sitting on so much of this money year after year seems to make the situation much worse than just the implied message of this toon. Double Whamey!! Then again, if my 401K doesn't start doing better, I might be resorting to playing more often as well. I guess there is always hope... or at least H pe.

It has been a couple of years since I have looked into this matter though. Does anyone know what the status on this situation is today? If i remember correctly, the unused money figure was somewhere around $6B in the 2006-07 school year, but that could be wrong.

February 4, 2010 at 12:51 p.m.
whatsthefuss said...

After my daughter enjoying the financial bonus of the Bright Futures Scholarship in Florida, the Hope Scholarship here, I play the lottery knowing there is a great deal of good being done with this money. And remember the slogan, If you don't play, you can't lose!!!

February 4, 2010 at 1:12 p.m.
anonymight said...

there's nothing perfect about my world. i figure that lowered expectations coupled with a modest accumulation of necessary things and supplemented only slightly by the future earnings of my adult children ought to take the teeth out of inflation. as my children see me take care of their grandparents and when i assist them in establishing their new families, the dividends will come. i will not rely on the government ss, medicare, afdc lotto eventhough i am sure america's deadbeats will continue to rely on me and mine.

February 4, 2010 at 1:29 p.m.
Clara said...

I'm glad I didn't buy $396 of lottery tickets over the years. My heating bill just got in.

Hey, I won $140 once, about 15 years ago. Aside from the electric bill this month, I'm still about $130 ahead as far as gambling.

Mabe it's time to try again.

Do I live in a mansion. Heck NO! The insulation in my attic has dun giv up! Water is pouring through my crawlway and is probably backing up 10 inches. I hope I don't float down to the lake. I'm afraid to look. C:-)

Canary, I take full responsibility for my condition and will muddle through as I have for the last 35 years.

February 4, 2010 at 1:57 p.m.

pmcauley said "Hey no fair, this is a recycled cartoon"

Thats okay, Clay was probably (1) running out of material or (2) trying to calm some of us down after yesterday's cartoon-fiasco or (3) sneakily attempting to find out who's retired or not, who gambles and who doesn't OR (4) all of the above

One thing I've learned about Clay. He's cute but he's awful sneaky <@

February 4, 2010 at 2:06 p.m.

Clara, I suugest you use any surplus money you ahve to reinsulated you home and fill those leaks. minor fixes such as this can save the average homeowner bunches of money in the long run. Help to lower you heating bill.

February 4, 2010 at 2:56 p.m.
MountainJoe said...

I have often heard that a lottery is a tax on the mathematically ignorant. The "mathematically ignorant" part is true, but since a lottery is voluntary it can't actually be a tax. (A tax is something that you have to pay.) To me, voluntary methods of paying for government programs are always superior to coercive methods (e.g. taxation).

To Clay's point, though, I actually agree with nucanuck@12:19. Wow, I agreed with nucanuck on something. Surely there is an asteroid hurtling toward Earth to destroy all life :)

February 4, 2010 at 3:47 p.m.
Clara said...

Thank you, rebel, for your interest and concern. The situation is under control, but it is taking time to round up reliable labor without having to take out a mortgage.

NucNuck,

I agree, too.

I read this morning that the CEO of Bank of America was in trouble. I certainly don't have stock in it and I understand its stock value is down.

February 4, 2010 at 4:33 p.m.
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