[quote=bearishgurl][quote=harvey][quote=SD Realtor]Why shouldn’t they get the exact same benefit?[/quote]
“yes, everyone should get to retire at 50 with a full salary pension.”
Of course we’ve seen how well that actually works.[/quote]
Yes, I HAVE seen how well that works, FIRST HAND. Although I have been eligible for years to begin to collect it, I myself have “deferred” my paltry gov’t pension until the age of 62, just to receive an additional $331 month!
I was not a “sworn safety member” (whose pensions are calculated on more generous formulas) and am NOT ALONE in this regard. And I did not hold a “professional” or “managerial” position.
There are thousands of “BG’s” out there.
I’m wondering if my govm’t pension will even cover my monthly utilities at the time I begin to collect it, lol…
pri, based upon your past and present demeanor on this forum, I can’t see you (or any of the other Piggs continually ragging on this subject in the middle of the business day) “bending over” every day for as long as I did for this “generous reward,” that is, if I don’t die first. If I do, there will be no survivor benefit to anyone.
Ahem, my family doesn’t have a “history” of longetivity. I’m trying mightily to be an outlier in that regard :=0[/quote]
BG, I think you’re missing the point here by taking it personal to pri…
The point here is…There has never been any type of investment vehicle that has ever been able to guarantee an always “above market return”. Every part of investment vehicle, there is a correlation between risk versus rewa+rd. Potential higher returns = Higher risk….Every type of financial instrument 401k, IRA,stocks,RE works this way…. Public sector pension is the only type of guarantee that completely goes the opposite.
Despite fulfilled contributions by contributors, the contributor is also on the hook for any shortfall in the performance of the financial instrument, and the contributor has the means by passing the “problem” on to someone else..the taxpayers…
If this isn’t by definition insanity, I don’t know what is…Can anyone really say look at this in a straight face and say that a guaranteed return 10-15% for the lifetime of someone’s retirement isn’t a completely unrealistic thing???? That’s 100% above market returns for the rest of someone’s life….
And if you have children that are going to be paying into this ridiculous system, I would be appalled that they’re pretty much going to be screwed and have a significantly lesser quality of life than you…..Because in one way or the other they are already going to be paying for it in higher prices with a weakening dollar. They are going to have even more global competition for work…And on top of that, they have to pay an ever increasing ballooning federal/state/local taxes….
Better buy them a house for them now…If you think housing is unaffordable now for them…Just wait when shit hits the fan….But I guess our children will make very good slaves and indentured servants, both to this internal debt we created, and to external debt we owe…
I find it really really ironic that despite all the moaning about how we’re being robbed, and irresponsible financing, that anyone here can’t look at this pension predicament and can’t see how insane, how unsustainable, and how utterly financially irresponsible it is… But then again, like I said, it’s not my fault, I was promised this, and someone else should take the hit…Not my issue….Let’s blame it on everyone else. let’s blame it on wall street and the banks..
The new american way…
Greece is really fvcked btw…For very interesting reasons.
