U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 01-12-2017, 08:21 AM
 
Location: Near a river
16,042 posts, read 19,004,474 times
Reputation: 15649

Advertisements

Future retirees are going to face a vastly different landscape than those of today. There will always be the retirees who through high income and sound investments will be secure. These are not the segment of society that will be concerned with poor retirees. If there are any operative human service agencies around 10 and 20 years down the line, I predict they will be overwhelmed. A secure retirement tomorrow for the retiree population depends on an abundant influx of high paying jobs today. I don't see it, promises not withstanding.
Reply With Quote Quick reply to this message

 
Old 01-12-2017, 08:49 AM
 
2,952 posts, read 1,644,753 times
Reputation: 5292
Quote:
Originally Posted by basehead617 View Post
I apologize for the tone of my original post. I just don't see a lot of discussion about this topic anywhere and see it as a coming crisis.

I am a borderline GenX/Millennial and actually am not one of the people I described. I own a home, save a lot, and have a good job. But many of the generation of kids after me are in terrible shape. It doesn't seem quite so bad in the moment because their parents can help them out, and they can eat and get by and scrape together some money, but my point was that the relative ease with which the older generations have retired have made people forget what is required for that to happen.
How old are these kids you mention? Sounds like my early 20's, popcorn for dinner, barely making ends meet. Only I got NO help from my parents. Welcome to the real world.

I was not worried about retirement then, was worried about next months rent.

Who was worried about me, no one. I knew life would work out as I got older and got a Masters degree.

Most people know being poor in the early 20's is a fact of life. Except for the boomers who spoil their offspring.
Reply With Quote Quick reply to this message
 
Old 01-12-2017, 12:05 PM
 
Location: Inis Fada
16,833 posts, read 29,159,036 times
Reputation: 7397
Quote:
Originally Posted by TuborgP View Post
Yes it does happen. This is the salary scale for Montgomery County Maryland Public schools. at 25 years teachers with the required certification are over 100K. After 18 years a teachers salary is just over 99k per year. Not counting any additional responsibilities compensation


http://www.montgomeryschoolsmd.org/u...a_7-1-2016.pdf
I'm on Long Island, NY where we have small school districts as opposed to the county system. Depending on step and additional degrees/certifications, a teacher is in the 90K within 10 years, and 6 figures not much after that.

It is nauseating to think that the 'lead' home ec teacher is earning $148,939. The kids learned to sew a stuffed animal and bake snickerdoodles.
An elementary level band teacher...$145,689 He's 54 and shows no sign of wanting to retire.
The lead teacher in the social studies dept earns...$134,545 He's in his late 40's.

The scary thing is that local residents foolishly vote in the budget "It's for the kids!" year after year. Our taxes are through the roof.

The only people who can afford to remain retired here are the teachers or police. My friend's husband is a detective in the neighboring county where he's earning $209,000 per year. My neighbor is a Sgt in this county earning $156,000 plus benefits. They're in their early 50's, mid 40's respectively. Imagine being a local cop married to a local teacher....
Reply With Quote Quick reply to this message
 
Old 01-12-2017, 02:39 PM
 
29,819 posts, read 34,912,438 times
Reputation: 11735
Quote:
Originally Posted by OhBeeHave View Post
I'm on Long Island, NY where we have small school districts as opposed to the county system. Depending on step and additional degrees/certifications, a teacher is in the 90K within 10 years, and 6 figures not much after that.

It is nauseating to think that the 'lead' home ec teacher is earning $148,939. The kids learned to sew a stuffed animal and bake snickerdoodles.
An elementary level band teacher...$145,689 He's 54 and shows no sign of wanting to retire.
The lead teacher in the social studies dept earns...$134,545 He's in his late 40's.

The scary thing is that local residents foolishly vote in the budget "It's for the kids!" year after year. Our taxes are through the roof.

The only people who can afford to remain retired here are the teachers or police. My friend's husband is a detective in the neighboring county where he's earning $209,000 per year. My neighbor is a Sgt in this county earning $156,000 plus benefits. They're in their early 50's, mid 40's respectively. Imagine being a local cop married to a local teacher....
That's the key thing local values of what's important. Same with Montgomery County and other DC metro school systems. A high priority on public education.
Reply With Quote Quick reply to this message
 
Old 01-12-2017, 03:03 PM
 
33,046 posts, read 22,104,537 times
Reputation: 8970
Quote:
Originally Posted by Mircea View Post
Then they need to pay an higher tax rate to ensure those programs will be solvent for them.

The previous poster presumes they generally will reach retirement age with zero or negative net worth; if true, how would they afford a higher tax rate?
Reply With Quote Quick reply to this message
 
Old 01-12-2017, 03:21 PM
 
12,825 posts, read 20,170,095 times
Reputation: 10910
I'll share once again a dream / nightmare (potential premonition?) I had.

It is sometime in the mid 21st Century.

I find myself in a place that resembles a large military base.

There are row upon row of barracks, as well as larger buildings of various types.

All around me are people my age or older. Most of them are older.

At a certain point, I find myself along with hundreds of others in a massive pool. The purpose is not to swim. The purpose is to bathe.
Reply With Quote Quick reply to this message
 
Old 01-12-2017, 04:05 PM
 
Location: Inis Fada
16,833 posts, read 29,159,036 times
Reputation: 7397
Quote:
Originally Posted by TuborgP View Post
That's the key thing local values of what's important. Same with Montgomery County and other DC metro school systems. A high priority on public education.
High priority on public education is a good thing, however, there are areas where the teachers aren't paid a kings ransom, yet they manage to achieve high ratings -- surpassing in many cases -- these areas which place a high value on education.

Tell me: would a $50K home ec teacher not be able to teach a child to sew a stuffed animal or bake a snickerdoodle as well as her/his $148K counterpart?

It has reached the point where high taxes are impacting home values. My neighbor's home was priced well in line with local comps BUT her taxes are $17,000 per year. Over the course of a year her asking price has dropped by $100K. (She was already taking a loss at her original asking price having purchased before the bubble burst.) It's a large house (3,100 sq ft) which would be perfect for a family with school aged children but many young families can't afford the mortgage AND taxes.
Reply With Quote Quick reply to this message
 
Old 01-12-2017, 09:19 PM
 
Location: Tennessee
23,651 posts, read 17,640,506 times
Reputation: 27762
Quote:
Originally Posted by OhBeeHave View Post
High priority on public education is a good thing, however, there are areas where the teachers aren't paid a kings ransom, yet they manage to achieve high ratings -- surpassing in many cases -- these areas which place a high value on education.

Tell me: would a $50K home ec teacher not be able to teach a child to sew a stuffed animal or bake a snickerdoodle as well as her/his $148K counterpart?

It has reached the point where high taxes are impacting home values. My neighbor's home was priced well in line with local comps BUT her taxes are $17,000 per year. Over the course of a year her asking price has dropped by $100K. (She was already taking a loss at her original asking price having purchased before the bubble burst.) It's a large house (3,100 sq ft) which would be perfect for a family with school aged children but many young families can't afford the mortgage AND taxes.
They could, and many of these high pay districts are just coincidentally located around NYC (largest metro in the country) or around DC (massive federal wealth derived from we, the taxpayer).

I sure should have gotten on the BOSWASH prosperity bandwagon and I'd be rolling in it now instead of being a poor, ignorant Tennessean!
Reply With Quote Quick reply to this message
 
Old 01-13-2017, 05:47 AM
 
29,819 posts, read 34,912,438 times
Reputation: 11735
Quote:
Originally Posted by OhBeeHave View Post
High priority on public education is a good thing, however, there are areas where the teachers aren't paid a kings ransom, yet they manage to achieve high ratings -- surpassing in many cases -- these areas which place a high value on education.

Tell me: would a $50K home ec teacher not be able to teach a child to sew a stuffed animal or bake a snickerdoodle as well as her/his $148K counterpart?

It has reached the point where high taxes are impacting home values. My neighbor's home was priced well in line with local comps BUT her taxes are $17,000 per year. Over the course of a year her asking price has dropped by $100K. (She was already taking a loss at her original asking price having purchased before the bubble burst.) It's a large house (3,100 sq ft) which would be perfect for a family with school aged children but many young families can't afford the mortgage AND taxes.
That is exactly why you have freedom of movement to locate where you want and pay for the level and types of services you want. Your issue isn't with me but with your neighbors and the majorities sense of values etc. Your situation is your situation, however many residents of communities with higher taxes and top school ratings feel the heightened increase in home equity outpaces the increase in property taxes. If not they need to vote otherwise or move.

When I transplanted and got lower taxes on a lower priced home but still large and nice, I didn't complain about the lower level of government services and schools that were a tad not as highly rated as the more expensive county next door. Snow? Ice? They don't touch neighborhoods or anything resembling a secondary road. So schools shut down, business shuts down etc etc. If I don't like it then I need to move. No one forced me into the local priorities, I selected them.

Truth be told I over the years had my salary published a couple of times and the reaction the first time was not what I expected. Instead of a reaction like yours I got congratulations, was told I was worth and interestingly they expect people in jobs who are on a intellectual and financial level above average. Why they expected it to rub off on their kids and if you didn't know how to maximize your income, life earnings, investment, retirement etc how could you pass the values they wanted on to their kids?
Reply With Quote Quick reply to this message
 
Old 01-13-2017, 06:32 AM
 
Location: RVA
2,172 posts, read 1,272,094 times
Reputation: 4492
While it is not an answer anyone wants to hear, the obvious observation is that high COL places are a place for high income people to live. Always has been, and always will be that way. Do those $140k teachers live like kings in LI, the LEOs in mansions driving a new BMW every year? I think not. A 20 year $50k homec teacher doesn't exist in the NYC area. They could never live there in near the same lifestyle that a $50k homec teacher could live in, in a much lower COL area. Also, the unions would not allow it. Same thing for LEO, etc, etc. Great work if you can get it, and then plan on retiring somewhere cheaper elsewhere, which a HUGE percentage plan on and do. They stay if they invest well, and have high retirement income, pensions and really want to stay there. Or leave, and live a MUCH higher lifestyle in a lower COL place. This has not changed in oh...forever. Being born somewhere does not give anyone the inalienable right to live in comfort there forever. What hogwash. I grew up in Westchester & Fairfield Counties in NY & CT, and while I will retire comfortably in most parts of the US, I would not, in those counties today.

What has changed is the difference between what is considered a high income and a low income. We said the same thing about well paid union jobs 40 years ago, and some people, by luck, advice, or need, took those jobs and today are glad they did. What I read here is a lot of sour grapes. "No fair!" . I didn't want to be a teacher or a LEO. The teacher or LEO does not SET their salary, just like no one else does, except Congress and CEOs. It is offered, and you either take it, or you don't. Begrudging them an offered salary is plain old jealousy.

It is what it is. Adapt, move or change it. Those are the choices. Everything else is just whining.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top