http://news.bbc.co.uk/1/hi/business/8191011.stm i can't see myself going round the golf course when i retire at 70 after fifty years of work would you be able to.
ok so there may be an exception. however he must have played golf through out his life to get that good something my generation will not get to do.
lol... I love the title of this thread. It's me to a "T" There is a new citizen, politician, and business drive to reduce or eliminate pension benefits. Reasons cited are runaway extreme pensions, but cuts and eliminations are across the board without regard for actual benefits. The extremes DO need to be adjusted, that goes without saying, but to attack ALL for the sake of the extremes is wrong. Example... I pay in 7.5% of my salary to a police defined benefit pension and "earn" 2% benefit per year. My employer, City gov., believes this pension is too high and we cops are reaping rewards in excess of the general public/private employee. So a cop working 30 years to draw 60% of his pay for life is a runaway pension??!!?? And I'm paying 7.5% of my salary into the plan to get that!! Health benefits are being hacked away as well but the prez will take care of me there... right??? 68 year old cops at your robbery calls will instill some serious confidence in the public safety system I'm sure... not. lol Back in school for the masters degree and trading part time. Gotta make your/my own way.
Well, you are reaping rewards in excess of private employees. Private employees can only dream of a pension like that these days, and I honestly can't think of one good reason to work in the private sector anymore. Shittier pay and less job security. In Chicago, cops typically only have to put in 20 years for a 60% pension. Or at least, that's the way it was. I personally think that it should be a minimum of 30 years and the age limit for new recruits needs to be set at 30 years old. There are way too many bust-outs in their late 30s/early 40s joining the force just to collect a pension by the time they're 60. It's getting out of hand.
I just signed up for Social Security.. employers paid into this thing for 40 years at something like 6% of wage... and I think employers have to kick in a like amount... that amount of savings invested properly would have gotten me millions over that period but they indirectly took it from me and I couldn't save because of that.. so I get $1800 a month and there are 7 suckers out there working their asses off in the private sector to pay for my income... sickening thing this socialism, it's sick.. and plenty of idiots still believe in it no matter how far and wide the failure of it.. they are insane!! I'm a trader, personally I think I'll be fine almost no matter what but so many people got so much prosperity stolen from them by Socialists over my lifetime, not to mention the hundreds of millions murdered in Russia and China... and we have BO Pelosi and company trying to shove more of it down our throats...