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Comments
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Speaking of rent seeking, I’m not being critical, I’ve often kicked myself for not doing exactly that.creepycoug said:
I've actually counseled one of my kids to think about a career in government, which was heresy in my family during all of my upbringing. She's good at math and could land in any number of federal agencies. Why the fuck not? Go home at a decent hour and have a sound retirement. Or go to some investment bank and work on slide decks for five years and never get more then 4 hours of sleep.SFGbob said:
I knowcreepycoug said:
A lot.SFGbob said:How much money would you need to have saved to be able to draw $75k a year in retirement income from age 55 when you retire to age 85 when you die?
30 years of income for 25 to 30 years of work.
And never once do you have to sweat a down turn in the economy or a market crash because that check shows up every two weeks no matter what.
What’s the value of that?
You are correct. It's not a bad way to go.
Have you seen the ever growing list of government employees retiring with 6 figure pensions?
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I'll see if I can find a high earner prospect from the UW row boat team.creepycoug said:
I've actually counseled one of my kids to think about a career in government, which was heresy in my family during all of my upbringing. She's good at math and could land in any number of federal agencies. Why the fuck not? Go home at a decent hour and have a sound retirement. Or go to some investment bank and work on slide decks for five years and never get more then 4 hours of sleep.SFGbob said:
I knowcreepycoug said:
A lot.SFGbob said:How much money would you need to have saved to be able to draw $75k a year in retirement income from age 55 when you retire to age 85 when you die?
30 years of income for 25 to 30 years of work.
And never once do you have to sweat a down turn in the economy or a market crash because that check shows up every two weeks no matter what.
What’s the value of that?
You are correct. It's not a bad way to go. -
Federal and state employees can fund their own retirement. That isn't the taxpayer's responsibility. Imagine how much we could save on taxes across the board if we weren't forced to pay their retirement benefits. These slimebags got the country 22 trillion in debt, and are peddling socialism in the education system. They haven't earned the right to take a single taxpayer penny.
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I had options and I took the job for the benefits. I could have made more money but the benefits were important to me so that's the way I went.SFGbob said:
Not a slam on you Sled but the old canard that government workers took lower pay for greater benefits doesn't always pencil out. Many positions in the public sector are very competitive salary wise with the private sector and not only do you receive greater benefits it's damn near impossible for you to lose your job or to be laid off in an economic downturn.creepycoug said:
Whoa there sparky. Now you're trying to cram into this enlightened discussion an apology for the shame you feel for having sucked off the government tit.Sledog said:
The HondoBros say it's socialism if you use a program or get retirement from something you paid into your whole career.RaceBannon said:
I don't have itMikeDamone said:
Yet
And I've paid in for 40 years
I'd still scrap it for REAL insurance reform
They're shmart!
Or are you still holding to this idea that your pension is but the sum total of amounts you paid in? All this time later, that is still not how pensions work. Your pension is funded by the tax payers. It's the difference between a defined benefit and defined contribution plan.
Don't be ashamed anymore. Come out into the light. You took lower pay for that benefit so nobody's mad at you. But come hell or high water, you were the government my friend. Not private sector like the cool kids. Accept it.
Does a BART train operator really make that much less than a train operator in the private sector? Same for the janitorial and maintenance staff. -
You don't get to choose your retirement plan. HTHcreepycoug said:
This was not your best effort, but on some level I admire your stamina.Sledog said:
I didn't have a choice! Wish I did. PERS has feelings. There investment strategies involve lots of feelings.HHusky said:
Dole isn't just a pineapple.Sledog said:
My employer also paid in on my behalf every quarter. HTHcreepycoug said:
No me you donkey. JFC. When you struggle you really struggle.Sledog said:
I've never said any such thing. If you don't live in the city I was employed by you're not paying. HTHcreepycoug said:
Whoa there sparky. Now you're trying to cram into this enlightened discussion an apology for the shame you feel for having sucked off the government tit.Sledog said:
The HondoBros say it's socialism if you use a program or get retirement from something you paid into your whole career.RaceBannon said:
I don't have itMikeDamone said:
Yet
And I've paid in for 40 years
I'd still scrap it for REAL insurance reform
They're shmart!
Or are you still holding to this idea that your pension is but the sum total of amounts you paid in? All this time later, that is still not how pensions work. Your pension is funded by the tax payers. It's the difference between a defined benefit and defined contribution plan.
Don't be ashamed anymore. Come out into the light. You took lower pay for that benefit so nobody's mad at you. But come hell or high water, you were the government my friend. Not private sector like the cool kids. Accept it.
And you have said such a thing. In fact, you just alluded to the thing you've said many times. Again.
Let easy be easy: you enjoy retirement in part on a payment you get once a month that is not funded out of your invested assets, but rather out of a trust funded and administered by the government. Public Pension. Taxpayers. Government. You. -
Me too. Seriously. I had a good opportunity to work at the SEC, a place from which you can bounce in out of private sector. I'd actually like to do the work now, but the pay cut just makes no sense, and I'm the only one in my house who'd like living in DC.SFGbob said:
Speaking of rent seeking, I’m not being critical, I’ve often kicked myself for not doing exactly that.creepycoug said:
I've actually counseled one of my kids to think about a career in government, which was heresy in my family during all of my upbringing. She's good at math and could land in any number of federal agencies. Why the fuck not? Go home at a decent hour and have a sound retirement. Or go to some investment bank and work on slide decks for five years and never get more then 4 hours of sleep.SFGbob said:
I knowcreepycoug said:
A lot.SFGbob said:How much money would you need to have saved to be able to draw $75k a year in retirement income from age 55 when you retire to age 85 when you die?
30 years of income for 25 to 30 years of work.
And never once do you have to sweat a down turn in the economy or a market crash because that check shows up every two weeks no matter what.
What’s the value of that?
You are correct. It's not a bad way to go.
Have you seen the ever growing list of government employees retiring with 6 figure pensions? -
It’s not your fault, you didn’t create the systemSledog said:
I had options and I took the job for the benefits. I could have made more money but the benefits were important to me so that's the way I went.SFGbob said:
Not a slam on you Sled but the old canard that government workers took lower pay for greater benefits doesn't always pencil out. Many positions in the public sector are very competitive salary wise with the private sector and not only do you receive greater benefits it's damn near impossible for you to lose your job or to be laid off in an economic downturn.creepycoug said:
Whoa there sparky. Now you're trying to cram into this enlightened discussion an apology for the shame you feel for having sucked off the government tit.Sledog said:
The HondoBros say it's socialism if you use a program or get retirement from something you paid into your whole career.RaceBannon said:
I don't have itMikeDamone said:
Yet
And I've paid in for 40 years
I'd still scrap it for REAL insurance reform
They're shmart!
Or are you still holding to this idea that your pension is but the sum total of amounts you paid in? All this time later, that is still not how pensions work. Your pension is funded by the tax payers. It's the difference between a defined benefit and defined contribution plan.
Don't be ashamed anymore. Come out into the light. You took lower pay for that benefit so nobody's mad at you. But come hell or high water, you were the government my friend. Not private sector like the cool kids. Accept it.
Does a BART train operator really make that much less than a train operator in the private sector? Same for the janitorial and maintenance staff. -
Agreed, there are arguments for maintaining a pension system for firefighters and law enforcement on account of those being jobs that are difficult for a 60 year old to perform but there is no fucking reason for a school teacher or a DMV employee to have a taxpayer funded pensionoregonblitzkrieg said:Federal and state employees can fund their own retirement. That isn't the taxpayer's responsibility. Imagine how much we could save on taxes across the board if we weren't forced to pay their retirement benefits. These slimebags got the country 22 trillion in debt, and are peddling socialism in the education system. They haven't earned the right to take a single taxpayer penny.
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The problem is, people work the system. I know a dude who was the CFO of a large City. For 3 years and one day. He had a 70k a year job for a 20+ years. But the system in that state is your pension is a percentage of top 3 years salary based on years in the system. So he slid into the $150k A year job. Did shit for 3 years, as soon as they realized he was doing shit, he slid back into his 70k a year job where he continued to do shit.SFGbob said:
Speaking of rent seeking, I’m not being critical, I’ve often kicked myself for not doing exactly that.creepycoug said:
I've actually counseled one of my kids to think about a career in government, which was heresy in my family during all of my upbringing. She's good at math and could land in any number of federal agencies. Why the fuck not? Go home at a decent hour and have a sound retirement. Or go to some investment bank and work on slide decks for five years and never get more then 4 hours of sleep.SFGbob said:
I knowcreepycoug said:
A lot.SFGbob said:How much money would you need to have saved to be able to draw $75k a year in retirement income from age 55 when you retire to age 85 when you die?
30 years of income for 25 to 30 years of work.
And never once do you have to sweat a down turn in the economy or a market crash because that check shows up every two weeks no matter what.
What’s the value of that?
You are correct. It's not a bad way to go.
Have you seen the ever growing list of government employees retiring with 6 figure pensions? -
So you have dirt bags for friends.2001400ex said:
The problem is, people work the system. I know a dude who was the CFO of a large City. For 3 years and one day. He had a 70k a year job for a 20+ years. But the system in that state is your pension is a percentage of top 3 years salary based on years in the system. So he slid into the $150k A year job. Did shit for 3 years, as soon as they realized he was doing shit, he slid back into his 70k a year job where he continued to do shit.SFGbob said:
Speaking of rent seeking, I’m not being critical, I’ve often kicked myself for not doing exactly that.creepycoug said:
I've actually counseled one of my kids to think about a career in government, which was heresy in my family during all of my upbringing. She's good at math and could land in any number of federal agencies. Why the fuck not? Go home at a decent hour and have a sound retirement. Or go to some investment bank and work on slide decks for five years and never get more then 4 hours of sleep.SFGbob said:
I knowcreepycoug said:
A lot.SFGbob said:How much money would you need to have saved to be able to draw $75k a year in retirement income from age 55 when you retire to age 85 when you die?
30 years of income for 25 to 30 years of work.
And never once do you have to sweat a down turn in the economy or a market crash because that check shows up every two weeks no matter what.
What’s the value of that?
You are correct. It's not a bad way to go.
Have you seen the ever growing list of government employees retiring with 6 figure pensions?
Surprising.
