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[OT] 17 years left. What to do?


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Tom Cashel

First Post
Attention Passengers:

I am hijacking this thread!

The above post represents my current opinion of 401k plans, which is, to be honest, born of fear. I am completely ignorant of what 401k plans do, except that they are supposed to provide funds for my retirement. I am new to the world of salaried employment (1 year veteran), but I'd like to know more. Human Resources explanations have not cut the mustard. Please help!

Thank you.
 

Bonedagger

First Post
Erreta: This can teach me not to get my facts from tv.

The 56 calculations that have been made say that the chance of the meteor hits earth is 1:50. But with the uncertainty normally connected with those calculations it could just as well be 1:50.000.
 


ColonelHardisson

What? Me Worry?
If, in 17 years, we haven't figured out a way to deflect or destroy such things, we'll deserve to get hit. I get the feeling it'll take an actual impact before people get the idea that keeping tabs on space is worthwhile. But by then it may be too late.

And, you know, this is probably just the tip of the iceberg - how many of these things are still out there? The number is literally astronomical.
 

BlackMoria

First Post
Carry on .... life is too short to get worked up about such things.

In the very extreme astronomical chance it is going to be a hit, I think 17 yrs is enough lead time to do something about it, given its estimated size.

And if not, I will join the big party at ground zero, and mark my words, there will be a party.....not of nut cases or crackpots but of people who have no desire to try and survive a hundred years of 'nuclear winter' and all the other hardships a potential near-extinction level event will bring.

If I am going out, I'm going out in style.... :D

See the rest of you geeks at ground zero. Maybe we can get one last D&D game before curtain call. :p
 
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King_Stannis

Explorer
Re: Attention Passengers:

Tom Cashel said:
I am hijacking this thread!

The above post represents my current opinion of 401k plans, which is, to be honest, born of fear. I am completely ignorant of what 401k plans do, except that they are supposed to provide funds for my retirement. I am new to the world of salaried employment (1 year veteran), but I'd like to know more. Human Resources explanations have not cut the mustard. Please help!

Thank you.

you devote a portion of your pay to a retirement fund. usually this is a mutual fund or group of mutual funds as risky or safe as you see fit. if you have a good employee, they will match your contribution up to a certain %. if you put in 6% of your gross pay, sometimes your employer will match up to that level. the percentages vary, but employers rarely match above 6%.

no touching the 401k fund before age 65 without huge IRS penalties, either.

you should always put in up to your company match % - as someone said, it's free money. what you do over and above that is contingent on your stage of life and future plans. some people sock aways as much as 15% of their pay in 401k's.
 
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ColonelHardisson

What? Me Worry?
Yeah, but the point is, this is just one of millions (EDIT: for each one that is detected, there are literally thousands - or more - that remain undetected - ones that could intersect with Earth's orbit at any time). How many have been detected in recent years only after they've passed by? There should be more work done to put a system in place to better detect and catalog such wanderers.
 
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Zappo

Explorer
Bonedagger said:
The 56 calculations that have been made say that the chance of the meteor hits earth is 1:50. But with the uncertainty normally connected with those calculations it could just as well be 1:50.000.
Oh. And what is the chance that the chance is actually 1:50? :D
 

RyanL

First Post
Re: Re: Attention Passengers:

King_Stannis said:


you devote a portion of your pay to a retirement fund. usually this is a mutual fund or group of mutual funds as risky or safe as you see fit. if you have a good employee, they will match your contribution up to a certain %. if you put in 6% of your gross pay, sometimes your employer will match up to that level. the percentages vary, but employers rarely match above 6%.

no touching the 401k fund before age 65 without huge IRS penalties, either.

you should always put in up to your company match % - as someone said, it's free money. what you do over and above that is contingent on your stage of life and future plans. some people sock aways as much as 15% of their pay in 401k's.

Seems to me the real advantage of the 401(k) is that the money you put in, as well as any capital gains from your investments, is tax-deferred. All that money you would have paid in income taxes and capital gains taxes is invested instead, allowing you to earn greater returns, pay less taxes, and save more money in the long run, even if your company doesn't match. If your company does match, that's just gravy. :)
 



BlackMoria

First Post
Is there a big planet killing rock out there with our names on it?

Probably. I've been an amateur astronomer for a great number of years and this subject comes up on a recurring basis.

All astronomers are pretty much in agreement - its not a question of whether we will get hit - it's when.

Large impacts happen in the neighbourhood of every 50-75 million years, so regardless what the doomsday types say or the odds the Las Vegas bookies post, I wouldn't go cashing in my retirement fund or savings.

Project LINEAR is expected to double the number of telescope camera dedicated to looking for NEO (Near Earth Orbit) objects within the next several years. Also, a satellite system consisting of several sateliites that will map and catalogue NEO objects as well as other local system phenomena is in development and if it get funding - it can go 'live' within a 10 year window.
 


Umbran

Mod Squad
Staff member
Zappo said:
Oh. And what is the chance that the chance is actually 1:50? :D

The chance is actually either 0% or 100%. This is classical mechanics. Either it will hit, or it won't. The "probability" the media reports is only an indicator of our level of knowledge about the beastie.
 

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