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Old 04-06-2016, 10:45 PM
 
Location: Tennessee/Michigan
28,206 posts, read 47,597,148 times
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The US government has nowhere near enough money to pay retirees.

According to credit rating agency Moody's state, local, and federal governments are about $7 trillion short in funding upcoming pension payments.

https://www.yahoo.com/finance/news/u...153435525.html
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Old 04-06-2016, 11:15 PM
Status: "Re-edit status" (set 14 days ago)
 
Location: Was Midvalley Oregon; Now Eastside Seattle area
4,145 posts, read 1,886,778 times
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Which is why I try to model our retirement portfolio to be close to PERS.
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Old 04-07-2016, 04:16 AM
 
Location: Los Angeles area
14,018 posts, read 17,726,438 times
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Long term, things are scary. Even short term, Medicare funding is scary. Some state and local pension systems are in serious trouble and some are not. It will be interesting to see what happens in places like Illinois.

Consider Detroit, whose bankruptcy threatened retirees with serious cuts. But they largely dodged the bullet, as the cut to pensions was only 4%, if memory serves. The bankruptcy court had pity on the Detroit retirees and protected them, is the way I see it.
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Old 04-07-2016, 05:47 AM
 
365 posts, read 305,761 times
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The government retirement system was designed to fail, and they want it to fail. The plan all along was to implode our current financial system.
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Old 04-07-2016, 05:50 AM
 
4,343 posts, read 6,053,473 times
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If I lost sleep over everything that could fail... My retirement plan, my medicare coverage, my social security, my bank, my desktop, my heart....
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Old 04-07-2016, 07:09 AM
 
71,490 posts, read 71,652,652 times
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yep , if i am going to worry about all these things that could happen then it will be to find my own solution to my own problem and how best to navigate through it .

i am not smart enough to solve the worlds problems , i just have to worry about solving my own .

it is like i say about the gold bugs . they all have visions in their head of all these doomsday scenario's and gold in their mind is all that survives .

it has been decades now and in every scenario it was always something else that did better at the days end no matter how bad the scenario was .

folks worry to much about what shape other's are in when they themselves need the time and effort put in to their own plan.
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Old 04-07-2016, 07:46 AM
 
Location: Colorado Springs
4,830 posts, read 4,944,472 times
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If you focus on this stuff you end up isolated in a rural county with your guns, ammo, gold, fences, and cache of stored food and water.

I've been hearing tales of doom and gloom my whole life.

I refuse to live in fear.
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Old 04-07-2016, 08:07 AM
 
365 posts, read 305,761 times
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Quote:
Originally Posted by Vision67 View Post
If you focus on this stuff you end up isolated in a rural county with your guns, ammo, gold, fences, and cache of stored food and water.

I've been hearing tales of doom and gloom my whole life.

I refuse to live in fear.
Understanding reality and taking actions accordantly is not living in fear.

Fear is the tactic of choice to rule and control the public. They have done this for a very long time and they are using it more now than ever before. Fear of terrorism, fear of financial instability, fear of global warming, fear of police brutality, fear of nuclear attacks from Korea, China or Russia. Fear is used on a daily basis to scare the public into submission.

Financial instability is real and it's happening throughout the world and within the USA. It's getting worse not better. A person, a business, a local or state government or the federal government can not continue to pile up debt without the house of cards eventually collapsing.
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Old 04-07-2016, 08:47 AM
 
Location: Midwest
1,469 posts, read 859,360 times
Reputation: 2339
Quote:
Originally Posted by John1960 View Post
The US government has nowhere near enough money to pay retirees.

According to credit rating agency Moody's state, local, and federal governments are about $7 trillion short in funding upcoming pension payments.

https://www.yahoo.com/finance/news/u...153435525.html

And yet the Senate and the President want a raise in THEIR pension plans!!!


Makes me glad I was born when I was in the early 50's instead of charting a new course being born in 2016. The whole world is such a mess, I would rather be 63 than 6 months!!! Count your blessings!!
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Old 04-07-2016, 08:51 AM
 
Location: Log "cabin" west of Bangor
5,676 posts, read 6,770,929 times
Reputation: 10242
Quote:
Originally Posted by Vision67 View Post
If you focus on this stuff you end up isolated in a rural county with your guns, ammo, gold, fences, and cache of stored food and water.

I refuse to live in fear.
{Looks around}

Works for me.

I refuse to live in fear too. That's why I live in an isolated rural area with my guns, growing food, a deep well and a running clean stream, plenty of game. Alla y'all in the cities...well, too bad. Life is good here.
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