How they fooled you when they took away your Pension, etc. (illegal, stats)
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Huge pensions have been what have killed companies like GM and states like Illinois. My FIL retired from GM with a huge pension at 54 and has now been retired longer than he worked.
States are going to have major problems in the future meeting their Pension obligations.
Pensions were not the problem. Not funding them was the problem. Politicians making promises they had no desire to fund and knew they would not be personally responsible for were the problem.
CEO's agreeing to things that they knew would be a problem in the future but not caring because they get paid on the next earnings report are the problem.
At $10-$15 an hour it's not simple at all. You "simply" have no money to put away, matched or not, and the math doesn't work out.
Those who were at the lower wage scales never did get a pension. Seems some want to portray the idea that everyone once had pensions. They did not.
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Why do you think they did it all? For your own good? That's silly thinking. They did it to save money for the corporate titans (Boeing, in this case, who took over)...and gain to one entity (in the 10's of billions) means pain to many small entities.
Simple. The Forgotten Man does not matter. Corporation do - as we saw in the tax bill.
To say that many would rather have control over their retirement is indeed noting that corporations can be corrupt and people do not trust them with their promises.
At $10-$15 an hour it's not simple at all. You "simply" have no money to put away, matched or not, and the math doesn't work out.
Why do you think they did it all? For your own good? That's silly thinking. They did it to save money for the corporate titans (Boeing, in this case, who took over)...and gain to one entity (in the 10's of billions) means pain to many small entities.
Simple. The Forgotten Man does not matter. Corporation do - as we saw in the tax bill.
$10-15 per hour pay is NOT a working career position.
What was “forgotten” was making good decision for your future and then guilting those who made better ones.
At $10-$15 an hour it's not simple at all. You "simply" have no money to put away, matched or not, and the math doesn't work out.
Why do you think they did it all? For your own good? That's silly thinking. They did it to save money for the corporate titans (Boeing, in this case, who took over)...and gain to one entity (in the 10's of billions) means pain to many small entities.
Simple. The Forgotten Man does not matter. Corporation do - as we saw in the tax bill.
You have quite the sob story. Some of us actually are planning for retirement.
This is how you get to second world......status...
"all but a handful said their new wages were only about half of what they had been making. Typically, their pay dropped in half, from about $20 per hour to $10 per hour."
So you lose pension, health care and then work for 50% of what you were making. Now, with the tax bill, they will have to pay even more (eventually) for their Medicare. Some of them are filing bankruptcy. I guess if it made Trump rich, maybe filing will make these people wealthy too??
Keep in mind this is middle America (much of it) - a plant in OK.
Socialism and communism throw you away the day you are born.
If you manage to survive the preferred abortion they make you suffer till death. So there is that.
$10-15 per hour pay is NOT a working career position.
What was “forgotten” was making good decision for your future and then guilting those who made better ones.
A large number of those "good decision" jobs have had large cuts in pay or sent overseas. Despite what many seem to believe, we do not have positions available for everyone to become an engineer.
You have quite the sob story. Some of us actually are planning for retirement.
Have you figured out a way that is guaranteed to protect you from financial catastrophe? For instance, a good case of, say, pancreatic cancer can really ruin your savings and investment plans. As many people find out every year.
A large number of those "good decision" jobs have had large cuts in pay or sent overseas. Despite what many seem to believe, we do not have positions available for everyone to become an engineer.
Interesting...I hadn’t heard that being an engineer is the only way to success now.
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
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Quote:
Originally Posted by jacqueg
Have you figured out a way that is guaranteed to protect you from financial catastrophe? For instance, a good case of, say, pancreatic cancer can really ruin your savings and investment plans. As many people find out every year.
If you know how to do that, please share.
Apparently, you are supposed to save 95% of your after tax pay and find a way to live on 5% of it. That would mean I would have to find a way to live on $40/week
Interesting...I hadn’t heard that being an engineer is the only way to success now.
That does not back up your position in any way. There simply are NOT enough well paying jobs for everyone.
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