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Old 03-16-2016, 05:02 PM
 
Location: Mount Airy, Maryland
10,459 posts, read 5,920,270 times
Reputation: 16151

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Quote:
Originally Posted by Retire in MB View Post
32 Percent of Retirees get a pension
Income from Pensions | Pension Rights Center
ype of pension benefit

Median benefit, 2014

Private pensions and annuities

$9,227

Federal government pension

$22,537

State or local government pension

$14,158

Railroad pension

$23,992 (2013 data)

Military pension

$18,554

Veterans benefits

$12,553

- See more at: Income from Pensions | Pension Rights Center
That is surprising but also a result of so many older retirees who worked when pensions were common. I highly doubt that figure is anywhere close for people who are currently still working, even those about to retire.
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Old 03-16-2016, 05:08 PM
 
Location: Ponte Vedra Beach FL
14,628 posts, read 17,920,408 times
Reputation: 6716
Quote:
Originally Posted by GeoffD View Post
Plus all the tattoo parlors, strip bars, pawn shops, and title loan places.
The area where I see those things the most is up near the Mayport Navy facility.

http://www.cnic.navy.mil/regions/cnr...s_mayport.html

Not all that close to where I live - but it is in the metro area. Ditto when it comes to the JAX Naval air facility:

http://www.cnic.navy.mil/regions/cnr...ksonville.html

Also not that close to where I live - but in the metro JAX area.

I am proud to live in an area that supports our military. Not so proud to live in a country where members of the military need to use pawn shops and title loan places to get from paycheck to paycheck.

We have an air show every year here. And - every other year - the path the Blue Angels fly goes right over my house (where they turn around on their way back to the beach). I can't help but cry every time I see them (and I cried the most right after 9/11).

I think a lot of my world view changed after 9/11. And this best expresses how I feel about that seminal event:


https://www.youtube.com/watch?v=gPHnadJ-0hE

I don't think most people can watch it without shedding at least a few tears.

Robyn

Last edited by Robyn55; 03-16-2016 at 05:17 PM..
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Old 03-16-2016, 05:14 PM
 
Location: Ohio
19,883 posts, read 14,221,081 times
Reputation: 16076
Quote:
Originally Posted by threecats407 View Post
Pension? I'd really like to know the percentage of people who get one.
According to the GAO, 29% of households age 55+ years have no pension and no savings; 23% have a defined pension benefit but no savings; and 48% have no defined benefit, but have savings.

You can find that info on the first page of the report:

http://www.gao.gov/assets/680/670153.pdf

Of the 29% with no savings and no defined benefit plan, 35% own a home with no debt; 24% own with some debt; and 41% do not own a home.

Quote:
For example, among households age 55 and older, about 29 percent have neither retirement savings nor a DB plan, which typically provides a monthly payment for life. Households that have retirement savings generally have other resources to draw on , such as non-retirement savings and DB plans. Among those with some retirement savings, the median amount of those savings is about $104,000 for households age 55-64 and $148,000 for households age 65-74, equivalent to an inflation-protected annuity of $310 and $649 per month, respectively. Social Security provides most of the income for about half of households age 65 and older.
[emphasis mine]
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Old 03-16-2016, 05:20 PM
 
15,188 posts, read 31,126,156 times
Reputation: 18359
I am so happy so many think retiring in Florida is a fate worse than death - we have WAY too many people here already, so y'all can stay where you are or retire elsewhere. In the meantime hubby and I are enjoying our life in our small coastal city with it's own symphony, ballet, historic opera house, multiple theater companies, museums, top rated beaches, etc. etc. And my husband will be retiring in 5 years from a nice government job receiving a lump sum and monthly pension payment from the Florida Retirement System. Yeah, it's really a fate worse than death!
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Old 03-16-2016, 05:43 PM
 
13,874 posts, read 7,386,288 times
Reputation: 25356
Quote:
Originally Posted by Robyn55 View Post

I don't think most people can watch it without shedding at least a few tears.

Robyn
A good friend of mine walked down from the 58th floor of the South Tower. I read his narrative of the day every September 11th.
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Old 03-16-2016, 06:30 PM
 
3,991 posts, read 3,213,883 times
Reputation: 12975
Quote:
Originally Posted by gypsychic View Post
I am so happy so many think retiring in Florida is a fate worse than death - we have WAY too many people here already, so y'all can stay where you are or retire elsewhere. In the meantime hubby and I are enjoying our life in our small coastal city with it's own symphony, ballet, historic opera house, multiple theater companies, museums, top rated beaches, etc. etc. And my husband will be retiring in 5 years from a nice government job receiving a lump sum and monthly pension payment from the Florida Retirement System. Yeah, it's really a fate worse than death!
Isnt that the truth. When people start saying how horrible it is living in Florida I look outside and think, they cant be talking about MY Florida.

But as you said, I hope more people do hate it here. We have enough.
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Old 03-16-2016, 06:36 PM
 
Location: Forests of Maine
30,677 posts, read 49,423,020 times
Reputation: 19129
Quote:
Originally Posted by Retire in MB View Post
...Military pension

$18,554
That is extremely close to my annual pension amount.
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Old 03-16-2016, 07:20 PM
 
Location: Wasilla, AK
7,234 posts, read 4,123,924 times
Reputation: 15570
Quote:
Originally Posted by DaveinMtAiry View Post
That is surprising but also a result of so many older retirees who worked when pensions were common. I highly doubt that figure is anywhere close for people who are currently still working, even those about to retire.

If I had to live on all those amounts added up I would have a drastic reduction in my lifestyle. I don't see how people do it.
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Old 03-16-2016, 07:21 PM
 
25,972 posts, read 32,970,649 times
Reputation: 32158
Quote:
Originally Posted by gg View Post
Every generation will be more and more dependent on SS. Look at what the young people face today starting life with $100,000 student loan debt. Talk about starting in a hole. It will be very difficult for them, but the end result will be socialism due to this college grab. Most all younger people I know are voting Sanders and I don't blame them one bit. Anyway, there will be more government programs and higher taxes within the next 20 years. Most of it will revolve around student debt and just general debt for 20 year olds to early 30 year olds. They will just always be in debt.
That's ridiculous. They should not be going into debt for that much. There are much less expensive schools available.
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Old 03-16-2016, 07:27 PM
 
25,972 posts, read 32,970,649 times
Reputation: 32158
Quote:
Originally Posted by Burkmere View Post
Well, as a teacher you didn't pay into social security, so, of course, your benefit is small..based on when you did contribute.
Yikes. I had no idea that there were states that excluded teachers from SS payments. Thank goodness only 15 states do this.
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