Our seniors' retirement should never rely on the bull of political promises or the bear of the market.
quote by Barbara Mikulski
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Related quotes
When one gets old and they are sick, there are not many things they can count on but they should be able to count on Social Security. Our seniors' retirement should never rely on the bull of political promises or the bear of the market.
quote by Barbara Mikulski
Submitted by Lucian Velea
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Any bull market covers a multitude of sins, so there may be all sorts of problems with the current system that we won't see until the bear market comes.
quote by Ron Chernow
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I think we're in the beginning of a bull market. When a bull market begins, nine months later the economy turns around.
quote by Sumner Redstone
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I was a stock broker once. I think there is an absolute place for market investments. But they should never be the basis of one's retirement. They should be an additional piece on top of a basic, secure, guaranteed retirement benefit.
quote by Barbara Boxer
Submitted by Lucian Velea
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Mr Political Man
He will show his good side
With a friendly hand shake
He will talk around problems
And tell you what's at stake
Mr Political Man
You'll never see his bad side
Well dressed and ready to go
The way he stands and speaks
Is just a part of his show
Mr Political Man
His words are carefully spoken
And promises he quickly makes
The trick is too win with words
But many promises he breaks
Mr Political Man
poem by Suelynn Walters
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A crash really occurs when you suddenly have a violent downturn in the market that then heralds a long bull market.
quote by Ron Chernow
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We need to take steps to strengthen and mend Social Security so that its promise of a secure retirement is just as real for seniors in the future as it is today.
I think that I could have been take apart if the bear market continued, but I waited three years before I felt the bear market was over and I was right.
quote by Jim Cramer
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Stock market corrections, although painful at the time, are actually a very healthy part of the whole mechanism, because there are always speculative excesses that develop, particularly during the long bull market.
quote by Ron Chernow
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Rely On Me
Writers: leo sayer & alan tarney
Rely on me
Devil take tomorrow
Take these blues away
Too much pain and sorrow
All our yesterdays
Theres a world a waiting
Where you reap just what you sow
No good contemplating
So come with me and watch it grow
Rely on me
Rely on me
Rely on me
I will set you free
Ill break down the walls and set you free
Moon is bright in my sky
Nightingale sings sweet sweet
Youre the song in my heart
Put your faith in me
Lets not cool the spirit
Waste each others time
Its my world I want you in it
Trust in me and what were sure to find
Rely on me
Rely on me
Rely on me
I will set you free
Ill break down the walls and set you free
Rely on me
Rely on me
Rely on me
I will set you free
Ill break down the walls and set you free
song performed by by Leo Sayer
Submitted by Lucian Velea
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Personal savings accounts to me are one of the most powerful things, not necessarily in saving, solvency, or bankruptcy of the program, but in guaranteeing, the words I used a few minutes ago, a safe and secure retirement for our seniors.
quote by Bill Frist
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In The Market Of Ideas...
in the market there are good apples,
luscious ones and we buy them and we do not regret
the money that we part with,
there are rotten ones, who buys them must be fools
ditto with our creations,
we think what we make are the best
in the market of ideas
we rely on the proof of the goodness when others begin to buy
what we display
we think they are best
but look at the flies, look at the the emptiness of the market place
smell the stink,
then we decide not to display at all
we keep what we make as our own
after all, it is ours, and we protect them in our homes
not for sale
but for domestic consumption
we do not wish to compete
we are home now and then we are happier this way.
poem by Ric S. Bastasa
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Spending and tax cut decisions must be both fiscally responsible and fair to our working families. I believe that fiscal responsibility is the way to create prosperity for America and secure the retirement of America's seniors.
quote by Blanche Lincoln
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There is only one side of the market and it is not the bull side or the bear side, but the right side.
quote by Jesse Livermore
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For these reasons, women tend to rely more heavily on Social Security in their retirement than do men.
quote by Steve Israel
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Social Insecurity
Strapped Seniors use credit cards ‘stead of cash
To stay afloat, after losing their stocks n’ bonds
Yet more victims of another Wall Street crash
“Let them eat cake” is what the Fed responds
ROTMS
From Reuters Article 10/23/2010
Retired and broke: Why retirees are declaring bankruptcy
For more and more seniors, retirement doesn’t mean a debt-free life of leisure. An increasing number of Americans aged 65 and older are declaring bankruptcy, according to a recent study by John Pottow, professor of law at the University of Michigan Law School.
Those aged 65 and older represented seven percent of bankruptcy filers in 2007, a mind-boggling jump from 1991. They are the “fastest-growing age demographic, ” according to Pottow’s study.
What’s the culprit for so much debt? Credit cards. Two-thirds of Americans who filed for bankruptcy said credit cards were the key reason for their financial problems, according to Pottow’s research. Besides having more credit card debt compared with younger bankruptcy filers,44.8 percent of those aged 65 and older also had more plastic in their wallets. “They’re using credit cards as a maladaptive coping mechanism, ” Pottow says.
Stephanie Osterland, a supervisor in the bankruptcy department at GreenPath debt solutions, sees an increasing number of seniors living beyond their means. Says Osterland: “They’re just trying to live off of a fixed income, and that’s usually Social Security. Maybe they have a small pension. We find they’ve used credit cards to supplement that income and expenses or they just end up getting into a lot of medical debt.”
In addition to escalating medical expenses, seniors have seen their portfolios hit hard by the lagging stock market. Carolyn Rodi of Saving Your American Dream says those considering bankruptcy should see a credit counselor at a non-profit organization to get their finances in order.
Credit counselors, such as those at GreenPath, help the elderly deal with a stressful situation. “We try to help them focus on what it’s going to look like” after they get out of debt, Osterland says.
Rodi also recommends that potential bankruptcy filers seek out pro-bono legal aid. “There are a lot of elderly people that are being taken advantage of by bankruptcy attorneys and mortgage brokers who are advising them improperly to pay for the bankruptcy, take out a reverse mortgage or to do things that aren’t in their best interest, ” she says. ”If you have no income, why should you borrow to pay someone when you can get free legal aid? ”
What are the chances of a senior paying off his or her debts? It’s difficult to determine, especially because seniors tend to be on a fixed income. And while finding a job — such as a WalMart greeter — seems like a viable option, it is not necessarily feasible for all seniors to work.
In addition, whether or not a person declares Chapter 7 (which involves the liquidation of one’s assets) or Chapter 13 (which allows debt restructuring) bankruptcy can be a significant factor in determining what one’s lifestyle will be. “If you have to file for Chapter 7 bankruptcy, you may be able to find affordable housing that allows you to just get by, ” says Rodi. “Chapter 13 lets you keep your house and doesn’t touch your retirement savings.”
Regardless, filing for bankruptcy is very stressful for anyone. “A lot of our clients in that post-retirement age have a hard time coming to grips with their situation, ” Osterland says. “It’s very emotional for them. We try to focus on the future and see if this debt can be lifted off their shoulders.”
poem by Ray Lucero
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The 1993 Social Security tax penalizes seniors who have planned for their retirement through savings, investment and hard work. That's wrong, and that's why the double tax on Social Security must end.
quote by Rob Simmons
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Almost half of all Latinas currently on Social Security rely exclusively on their benefit check in retirement.
quote by Grace Napolitano
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There's been a lot said about Social Security reform. What has been left out of the debate is the double tax on Social Security benefits. I believe it's time to get rid of a tax that punishes seniors and discourages work and retirement savings.
quote by Rob Simmons
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More than 70 percent of seniors are asking for more time. It is long overdue for Congress to listen and make sure that seniors have a prescription drug plan that works for them.
quote by Dan Lipinski
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