Keystone Pipeline - a red line?

#751
#751
hog88 said:
Who's giving retirement? Outside of a government or union job, who the heck gets a pension?

If you're referring to 401k plans i can contribute more of my money to my retirement than someone making 50k more than me in NYC.
Click to expand...

The voters need to kill public sector retirements.. period. A cop or school teacher that works for 20 years should in no way get the kind of retirements they get for life. It is a grand ponzi scheme.

If the states can unload those pension obligations... just freeze them and sponsor 401(k)s going forward, everybody wins. (Until of course the .gov confiscates them for the greater good)
 
Last edited:
#752
#752
Vol8188 said:
Most companies do. And I doubt that.
Click to expand...

Other than 401k that you pay out of your pocket most companies do not offer a pension. Some will add a very small amount of your yearly salary to a retirement fund and its usually around 3%. So if you average 75k for 30 years that gives you $67,500 to retire on. Good luck with that.
 
  • Like
Reactions: 1 person
#754
#754
Vol8188 said:
Most companies do. And I doubt that.
Click to expand...

They are getting rid of the traditional pensions. The PBGC is already in deep **** because of the number of retirements that have been foisted on them by bankrupt companies. If those people aren't saving everything they can at this point, they are gonna have a really rude awakening..... this is not conjecture. It is fact. You need some education, because you live in a bubble.
 
  • Like
Reactions: 1 person
#755
#755
SpaceCoastVol said:
That is overly simplistic. If you are on a DB type of retirement plan... which are dying.. (and SHOULD die for public pension employees like YOU)... you are correct. If.. they are on a DC type plan, there is a $54,000 limit whether you live in Alabama or NYC to the amount that can be placed in those accounts. Then it becomes a matter of who is the better investor.

As far as self funding by putting x% into an investment account, I contend that if you live in NYC, your cost of living will eat into the amount you can save. Sure... you make more in NY, but city/state/local taxes as well as food and fuel costs eat into that paycheck a lot more than the Bammer's.
Click to expand...

If you live in New York, fuel cost isn't even an issue. I think it's actually easier to save money in a bigger market. No need to own a car, more competition between grocery stores, etc.
 
#758
#758
govols/cc said:
Other than 401k that you pay out of your pocket most companies do not offer a pension. Some will add a very small amount of your yearly salary to a retirement fund and its usually around 3%. So if you average 75k for 30 years that gives you $67,500 to retire on. Good luck with that.
Click to expand...

Retiring on 67,500 in TN? That sounds pretty easy to me.
 
#759
#759
Vol8188 said:
If you live in New York, fuel cost isn't even an issue. I think it's actually easier to save money in a bigger market. No need to own a car, more competition between grocery stores, etc.
Click to expand...

You're clueless. I work in NY. I don't LIVE there for a very good reason.
 
#760
#760
Vol8188 said:
If you live in New York, fuel cost isn't even an issue. I think it's actually easier to save money in a bigger market. No need to own a car, more competition between grocery stores, etc.
Click to expand...

You don't get out of NC much do you?

Go rent an apartment in NYC or LA or better yet check housing costs, utilities, insurance, taxes and you're assumption on food is way wrong.
 
  • Like
Reactions: 1 person
#763
#763
It's expensive, or the place there you would want to live in is expensive?
 
#764
#764
SpaceCoastVol said:
They are getting rid of the traditional pensions. The PBGC is already in deep **** because of the number of retirements that have been foisted on them by bankrupt companies. If those people aren't saving everything they can at this point, they are gonna have a really rude awakening..... this is not conjecture. It is fact. You need some education, because you live in a bubble.
Click to expand...

Are you talking about Pepsi Bottling Group?
 
#766
#766
hog88 said:
Are you talking about Pepsi Bottling Group?
Click to expand...

Pension Benefit Guarantee Corp. A quasi .gov organization that was set up many years ago to cover workers that lose pensions thru bankruptcies. They themselves are bankrupt. Just recently they declared.
 
#767
#767
SpaceCoastVol said:
Pension Benefit Guarantee Corp. A quasi .gov organization that was set up many years ago to cover workers that lose pensions thru bankruptcies. They themselves are bankrupt. Just recently they declared.
Click to expand...

Gotcha.

Brother works for Pepsi Bottling and they did away with their traditional pension plans a few years ago.
 
#768
#768
Vol8188 said:
It's expensive, or the place there you would want to live in is expensive?
Click to expand...

Well, I guess I could share an apartment with 9 other guys and cut costs, but a 500 sq foot apartment in Manhattan will buy an apartment building on the beach in Florida.

You are really something..
 
#769
#769
I just did a search on realtor.com and found over 1500 homes for sale for 160000 or less. I wouldn't call that expensive.
 
#772
#772
govols/cc said:
How can you assume a person has more to put in 401k when you don't know their salary, expenses, or anything else. There's also a max you can contribute to 401k regardless.
Click to expand...

If they can't, then they simply need to find a better job...right?
 
New posts
You must log in or register to reply here.

VN Store



Back
Top