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We are the exact same age and are retiring together. Ed worked in private sector for 10 years and for the state for 25. I worked 36 years for the private sector. We had the same income and Ed had better
benefits. I will receive through SS approximately 1100 per month; and Ed will receive 1800 per month.
I have to pay 990 for Health ins per month for me and he pays $380 for a family. How can the government support this inequality. Especially for 30 to 40 years. His is guaranteed and mine isn't?
Your parents clearly missed the boat with you. Life is not fair. Deal with it.
Usually private sector income is better then gov't jobs but benefits after retirement dont exist in private sector for the most part..
those with pensions can actually spend more time in retirement collecting a pension then they did working.
we dont know all the details but perhaps you had more opportunity to advance in private sector but didnt.
That depends on the last 3 years salary made before retirement. Promotions are always reserved for the freinds/relatives of the employers first then everyone else has a chance. If you are in a low paying position you can't retire at the age of 55 with 25 years in the pension system because the higher paid always get a majority of the money and they don't contribute nearly enough to make up for what they take out.
OP usually with State/Government jobs the pension is considered vested after 10 years of working there. Taxes pay a portion of what Ed put into the system with his salary/paycheck. The higher his salary the more taxes are contributed towards his pension. That is why there is so much middle management positions. ei., one person in charge of 2-3 people per dept. and so many different divisions, supervisory titles. Say you work there about 3 years and get in good with the dept head/employer and you move up to a position of authority after 3 years that means by the time 7 years comes to make 10 years you are earning much more money than someone who isn't promoted to a position of authority (management). Now add that even though they aren't in a union they still get the same amount or higher than what union employees would get and that isn't negotiated by an Executive/Governor or whomever is in charge that is automatically given to them.
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Some good points to ponder (about 40 yrs ago). Things in life change... Who would have thought my benevolent company with 60 yr history would totally reverse their path a few weeks before my retirement (only 32 yrs service).
But,, THAT happens.
Interesting how this is gonna play out when the whining 'Entitlement generation' hits retirement. Gonna be A LOT more whining going on. And probably a lot of people going postal, which will lead to a change in gun ownership laws in USA. I seriously expect this to happen... so sad. Life is that way. Freedoms come with a price.
Everyone here seems to think that it's a choice whether to join the public or private sector. Not everyone has the choice. First of all, where I live, due to affirmative action laws, it is almost impossible for a white male to get a public sector job. Secondly, at least in my field, the government only hires people directly out of college to entry level jobs. Since they were not hiring when I graduated from college, it was not an option for me, and unfortunately never will be. So I am stuck in the private sector, even though it wasn't really my choice.
But you DO have the choice! You could work for the post office, start at the bottom, sort mail or deliver. You could work your way up. My husband started as a letter carrier, got his BSBA then his MBA and worked his way up the ladder retiring at a high level.
It always has depended on where you live and supply and demand. I went to work with the Fed at 20 with only a couple of years of college courses.
I started out as a Grade 4. But military wives were the only available source of employees in Alaska at that time. We would take the lower grade and paying jobs just to have a job. Over 35 years I worked my way up to a Grade 12 Analyst. I took on additional assignments and worked for a variety of units. I was never in management.
It was my choice to get a job or continue with my education. In my case, it was better to get the foot in the door and then prove myself to be a capable employee.
We are the exact same age and are retiring together. Ed worked in private sector for 10 years and for the state for 25. I worked 36 years for the private sector. We had the same income and Ed had better
benefits. I will receive through SS approximately 1100 per month; and Ed will receive 1800 per month.
I have to pay 990 for Health ins per month for me and he pays $380 for a family. How can the government support this inequality. Especially for 30 to 40 years. His is guaranteed and mine isn't?
You realize, of course, that if you had been saving $100 per month, and investing them in a good growth mutual fund for 36 years that you would now have a total of 651,118.43, and even at modest interest rate of 6%, you would be making $40,000 per year in interest or the equivalent of approximately $3,200 per month.
This is why we need to privatize social security and forget about allowing the government to create our poverty for us. If you have a grandchild, I strongly suggest that you teach them to save money so that when they are your age, they won't have to be supported by some ineffective government system.
As for you and your best friend. Nobody guarantees that anything is fair or equal. Get off that bus. Maybe you need to get a part time job since you seem to have a lot of time on your hands to sit and ponder how unfair the world is. Just sayin'
But you DO have the choice! You could work for the post office, start at the bottom, sort mail or deliver. You could work your way up. My husband started as a letter carrier, got his BSBA then his MBA and worked his way up the ladder retiring at a high level.
Every month they hire.
My Dw checked at OPM and got hired with the commissary. Every month they have openings.
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