Or in the words of the great Dave Ramsey: “if you will live like no one else, later you get to live like no one else.”
Since technically I am a state employee (state university) they “graciously” take money from my paycheck every month to put into the State University Retirement System. I have no illusions that I will ever see that money again, because by the time I retire in 35-40 years, the government will no doubt have redistributed my wealth to someone else. So I’m building my real retirement fund from after-tax dollars, in a private bank account with a competent (i.e. non-government) investment manager!
State government employee?
Paid enough money to save for retirement, on top of what your already getting?
Most in the private sector, are struggling just to to pay their mortgages and fill their gas tanks, millions more in the private sector lost *everything* in the past 5 years while the banks and fatcorps were bailed out.
For millions in the private sector, getting paid enough to save for requirement has become a thing of the past, if they still have jobs. Not to mention, in the private sector, most have had their health insurance, slashed or completely eliminated.
Make sure your investment manager is independently-audited. Otherwise you’re really sticking your neck out there too.