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January 13, 2012 at 11:12 PM #735865January 13, 2012 at 11:14 PM #735866
temeculaguy
ParticipantActually that proves my point, let’s play how much does a realtor make. I’ll bet we can fing one that works 10 hours a week and one that works 100 hours a week and they don’t all make the same money.
BTW circa 2005-2006, wasn’t everyone mad about how much realtors made? Give it a few years, it will be your turn again, the nurses can be mad at the realtors in a few years, be thankful you are off the hotseat for now.
January 13, 2012 at 11:16 PM #735867sdrealtor
ParticipantCmon UR you know how ridiculous that is. We dont get pensions or any benefits. If we dont make it happen we could work 168 hours a week and not make a penny.
These are both regular employees not particularly high level ones. They dont work massive overtime like some have suggested. They are just regular folks taking home money that 99% of this country only dreams of. And when they retire at a nice young age they will collect pensions for likely 20 to 40 years of close to 200K a year. Do you have that to look forward to?
January 13, 2012 at 11:20 PM #735868Participant[quote=temeculaguy]Actually that proves my point, let’s play how much does a realtor make. I’ll bet we can fing one that works 10 hours a week and one that works 100 hours a week and they don’t all make the same money.
BTW circa 2005-2006, wasn’t everyone mad about how much realtors made? Give it a few years, it will be your turn again, the nurses can be mad at the realtors in a few years, be thankful you are off the hotseat for now.[/quote]
Correction: Everyone was mad at how much they THOUGHT realtors made. the reality is very very few net 6 figures and that is without guarantees of making a cent, no benefits and paying both sides of the SS tax burden. I’m sure people will be mad again someday but if they saw the actual tax returns of realtors they wouldnt be. I would venture to guess that UR has never seen a 6 figure income in this business nor has well over 95% of Realtors.
January 14, 2012 at 12:10 AM #735869Aecetia
ParticipantWhat rank is the public safety employee?
January 14, 2012 at 12:19 AM #735870ParticipantI am going to go with 325. but a lot depends on rank and position unless the public safety employee works a ton of over time.
January 14, 2012 at 12:54 AM #735873ParticipantI could bore you to death with the reality of pensions and how they are calculated, but this is a fact. There are 368 people retired from sd county making $8,300 or more per month in pension benefits. There are 36,000 members, so 1% have pensions of 100k or more.
http://www.sdcera.org/about_us.htm
This is the second largest county in the state and the 5th largest in the united states, over 3 million people, and the thousands of blogs and posts are about 368 people. Let’s just keep some perspective. So before you assume that evey run of the mill government employee gets some fantastic deal, get the facts, they are probably just as out of touch as the perception that all realtors make 6 figures.
I am not protecting myself, I’m not one of the 368, but I’m also not an NBA player or a CEO, some have more than me and some have less. You just happen to run into some who had more, that doesn’t mean they all do. In fact the average gov’t pension in san diego county is $28,284 per year. But it’s more fun to scream about the rare exceptions.
January 14, 2012 at 1:35 AM #735875CA renter
Participant[quote=sdrealtor]Cmon UR you know how ridiculous that is. We dont get pensions or any benefits. If we dont make it happen we could work 168 hours a week and not make a penny.
These are both regular employees not particularly high level ones. They dont work massive overtime like some have suggested. They are just regular folks taking home money that 99% of this country only dreams of. And when they retire at a nice young age they will collect pensions for likely 20 to 40 years of close to 200K a year. Do you have that to look forward to?[/quote]
Huh??? Weren’t you the one complaining about your 15% SS contribution?
There is no difference between your SS benefits and a public employee’s pension benefits.
Not only that, but the government passes laws (written by NAR) that ban anyone who is not a “real estate agent” (or an attorney) from getting a commission in a RE deal. You don’t think that’s subsidizing your income?
You can also have times when you work 20 hours pushing paper around and make $10K+++.
Stop whining.
January 14, 2012 at 7:13 AM #735880Hobie
Participant$425k
Heath care – $250k
Public Safety – $180k* If I win, please donate the wine to Rich for putting up with the spammers!
January 14, 2012 at 8:39 AM #735884Anonymous
Guest[quote=temeculaguy][…] 1% have pensions of 100k or more.[/quote]
You don’t need $100K to have an extremely generous pension.
Take someone retiring at 50, who will live to 80 and draw an $85K/year pension.
It might not sound like much, but the present value of that cash-flow (when they are 50) is about $1.4 million dollars.
Throw in free health care and it could be worth close to $2 million.
What that means is someone without a public-sector pension – without government guaranteed payments – would need a 401K/retirement savings of $1.4 million to pay themselves the same annual income.
In order to accumulate $1.4 million over 30 years, one would have to save about $17K/year (in ALL of the 30 years) and make a consistent 6% return.
Very few people earn enough in 30 years of work to be able to accumulate that much savings. Very few in the private sector earn enough to enjoy a retirement income that is not uncommon in the public-sector.
Even the average pension that you mention ($28,284) is worth almost half a million dollars for the 50 year-old retiree who lives to be 80.
If you were to look at the average 401K balance of the private-sector at age 50, I have no doubt that a tiny percentage would have half a million dollars. It’s not easy to save that much when you only make an average salary.
January 14, 2012 at 8:44 AM #735883ParticipantTG that answer sucks! Its not just county employees. What about city, state and federal ones too. Also what about all the ones between $75 and 100K also?
The problem isn’t the 368 now collecting . This huge pension thing is recent. Talk to me in another 10 or 20 years when that numbers is thousands.
January 14, 2012 at 8:53 AM #735885ParticipantCAR
Public pensions and SS are apples and oranges. I will have to wait another 20+ years to start collecting. I have client right now who is about my age and collecting a government pension of the median income for the NCC area.
If at that point I am lucky enough to live to the age of 90, I still wont collect more nominal dollars than I put in. Forget about return on capital, I’ll be lucky to see return of capital.
Sure I can sometimes work 20 hours and make $10K plus that is extremely rare and more often than not I work 40 + hours a week without getting paid a penny. Nothing we do is guaranteed. we take all the risk of earning an income. About 90% make less than minimum wage and are out of this business in a year or two. That is the norm. Your strawman arguments here are pretty pathetic and transparent.
And I am winning!!! Not whining, I’ll leave that to you
January 14, 2012 at 9:14 AM #735887DomoArigato
ParticipantOne societal leech complaining about another societal leech? Yawn. Wake me when it’s Tebowtime.
January 14, 2012 at 10:22 AM #735890urbanrealtor
Participant[quote=sdrealtor]Cmon UR you know how ridiculous that is. We dont get pensions or any benefits. If we dont make it happen we could work 168 hours a week and not make a penny.
These are both regular employees not particularly high level ones. They dont work massive overtime like some have suggested. They are just regular folks taking home money that 99% of this country only dreams of. And when they retire at a nice young age they will collect pensions for likely 20 to 40 years of close to 200K a year. Do you have that to look forward to?[/quote]
No. We get paid sometimes very far above market for our labor. Sometimes nothing.
A while back I closed a deal that netted me over $6000 per hour worked.
This morning I am drafting a letter for a former client about a short sale I was underpaid on 2 years ago (for no pay).
The question you asked was about income and not bennies.
There is a valid argument to be made that some public employees are overpaid.
However, just laughing that somebody working in healthcare and another in PS (I am guessing a police supervisor)make a lot is shallow and dumb beyond words.
It is also a departure from the usually high level of discourse you display (though you have been doing that a lot lately).It also makes me glad I am not your client.
I would hate to have an agent I interviewed chuckling online about my livelihood.
That’s pretty fucked up.January 14, 2012 at 10:30 AM #735891ParticipantHorrible argument UR. I’m talking the annual household income. You know as well as anyone its impossible to value what we do passed on a single thing. Its a body of work for which we are compensated. Again these arent high l;evel employees. Most defintely not a police supervisor. They make earnings that put them in the top 1 or 2 % of households in this country. That is guaranteed and their jobs are recession proof. They dont worry about layoffs and they will retire young with a pension income that most likely will exceed 200K. If you dont see that as unsustainable, well thats your problem.
These are not my clients and I am not chuckling about it. I am bringing a data point to a situation that in your words is pretty fucked up. At least I add value here. As far as I can tell you add zombies and sharks. Poorly I might add.
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