And his pension also includes rate increases for inflation. So if you want to have enough saved to provide about 3% inflation to your self-funded retirement plan you need to make 6% a year and draw out 4% of the ever so slightly growing balance. Otherwise you are just in harvest mode and could very well run out of money before you run out of life. Even with the 6% plan you begin to harvest at the most critical time in your life, near the end when you have no means at all to recover from losses. Risk. Risk will destroy most private self-funded retirement plans.
Yup, they are part of the 1% alright, the 1% we’ll never know and the 1% we can’t afford.
WE don’t owe these people these lavish benefits we can’t afford for ourselves.
Nobody mentions that government employees average pay MUCH higher than private sector employees plus the government sector employees have better working and retirement benefits.
This is like a parent eating beans and rice so that they can buy their freeloading adult children steak and champagne.
How stupid are we? When do we cut them off?
Wow, thanks for those talking points from OWS. Obama will be soon proud!
I think one way to show people, if they don’t get it, is to wait until they start to eat and then take the food, right out od their hand and eat it before them.
If they protest, explain that is what the pension plans are doing to them.