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# The Blackstone Group L.P. Message Board

habbas3000 11 posts  |  Last Activity: Apr 28, 2016 3:20 PM Member since: Dec 14, 2004
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#### If you averaged \$30K per year over your working life, that's close to \$180,000 invested in Social Security.!!!

by u8dikalone Apr 28, 2016 1:52 PM
habbas3000 habbas3000 Apr 28, 2016 3:20 PM Flag

Let me first say that I expect to get nothing from SS for several reasons. However, you have made several fundamental errors in your calculations. This makes me think that you should be doing more listening and less speaking:

1) Let's assume you make exactly 30k each year for 40 years for simplicity. The nominal SS taxes paid (including employer share) would be 0.124 x 30,000 x 40 = \$148,800. I guess you include medicare (which gets you to \$183k) because you don't know what you're talking about.

2) I'll even give you your total of \$180k. Even if I were to apply 40 years of 1% interest, compounded on a monthly basis, to this full \$180k (meaning I'll let it all go in on day 1 rather than over 40 years), then you'd have (1+(0.01/12))^480 * 180,000 = \$268,484.
- It appears to me that you have made the error of using a 1% MONTHLY interest rate instead of a 1% interest rate. Good luck getting 1% monthly; if you can do that you won't have to worry about SS.

I know the above is a lot of complicated (for you) math, and it's much easier to just read something on some goofy website, but you really should try to understand it before opening your mouth.

Even if you understood the math of compound interest, you still can't make the retirement income comparison because you're comparing a particular case to an average. Dumb.

Finally, you're either ignoring the disability insurance part of SS, or you don't understand it. I'm guessing it's the latter.

#### STEVER SCHWARTZMAN ATE STONE CRAB CLAWS TONIGHT. DID YOU?

by penthouseexperience_naplesfl Apr 26, 2016 11:33 PM
habbas3000 habbas3000 Apr 27, 2016 10:00 AM Flag

I ate your wife last night.

• #### 0 users liked this posts users disliked this posts 0 Reply I'm last here, Bee-itches!

habbas3000 by habbas3000 Apr 18, 2016 1:07 PM Flag

Qufun wins!

• #### 0 users liked this posts users disliked this posts 0 Reply I'm last here, Bee-itches!

habbas3000 by habbas3000 Apr 18, 2016 1:06 PM Flag

Qufun wins!

By the way, I was also the one who said you should bail when that hedge fund loaned INPH money.

#### Article: "UBTI in an IRA"

by sandyraveon Mar 3, 2016 7:57 AM
habbas3000 habbas3000 Mar 3, 2016 10:17 AM Flag

Here's something to consider if you have more than one IRA (for example, a rollover and a traditional or Roth):

If your number of shares is getting large enough to start worrying about UBTI, split your BX holding between your IRAs. As far as I can see (note: I am not a tax attorney, although I do play one on TV), you can reduce your chance of being hit with a UBTI tax in this way.

#### When Oil is Up, why this is going down??? Any one please explain?

by punjabifreaks Feb 29, 2016 3:04 PM
habbas3000 habbas3000 Mar 1, 2016 10:07 AM Flag

The reason for this is that the price of ERX is not based on the price of oil - it is based upon companies in the oil sector. While the share prices of these companies are highly correlated to the price of oil, it is regularly happens that ERX go down while the price of oil goes up when the overall market has big down day, and vice versa.

#### Marty might want to bulk up before the slammer

by philipmorris601 Feb 5, 2016 3:12 PM
habbas3000 habbas3000 Feb 28, 2016 7:34 AM Flag

I love the irony that so many will want to do to him that which he wanted to do to so many.

#### Drop today

by kevinharrell86 Feb 24, 2016 10:19 AM
habbas3000 habbas3000 Feb 24, 2016 3:33 PM Flag

go look up what "x-date" means. Read and Learn!!!!!!!!!

#### Drop today

by kevinharrell86 Feb 24, 2016 10:19 AM
habbas3000 habbas3000 Feb 24, 2016 1:12 PM Flag

hdd - you should stick to mutual funds. You have no idea what you are talking about.

#### "She Lies About Lying" - Judge Nap Rips Hil-LIAR-y for Her "Dishonesty"

by chubbsyubbsey Feb 23, 2016 1:06 PM
habbas3000 habbas3000 Feb 24, 2016 12:19 PM Flag

Man - it's no wonder you like Rump when you have reading comprehension skills like that. When he says that he "loves the poorly educated" he means that he loves you!

(And I see you have plenty of time on your hands.)