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03-08-2010, 02:45 PM
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3,284 posts, read 2,425,953 times
Reputation: 704
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If Pensions were not guaranteed by govt, what would you do or have done differently?
If you couldn't rely on govt to rescue underwater pensions, what provisions would you make/ have made?
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03-08-2010, 03:27 PM
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Location: Planet Eaarth
8,798 posts, read 6,653,074 times
Reputation: 6960
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Quote:
Originally Posted by 58robbo
If you couldn't rely on govt to rescue underwater pensions, what provisions would you make/ have made?
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The PBGC is broke so I don't know if I say that pensions were assured by the gov't. If your pension fund goes belly up you will be lucky to get a 1/3 of what was promised.
What PBGC guarantees (PBGC.gov) |
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03-08-2010, 03:30 PM
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Location: Sierra Vista, AZ
15,791 posts, read 8,778,507 times
Reputation: 7440
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I guess I wouldn't have done a career in the military or been a Police Officer. I don't think anyone would do either without a guarantee if they are killed or disabled
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03-08-2010, 03:38 PM
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3,284 posts, read 2,425,953 times
Reputation: 704
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Quote:
Originally Posted by Boompa
I guess I wouldn't have done a career in the military or been a Police Officer. I don't think anyone would do either without a guarantee if they are killed or disabled
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what would you have done then? how would you have prepared for your retirement? |
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03-08-2010, 03:41 PM
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3,284 posts, read 2,425,953 times
Reputation: 704
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Quote:
Originally Posted by Tightwad
The PBGC is broke so I don't know if I say that pensions were assured by the gov't. If your pension fund goes belly up you will be lucky to get a 1/3 of what was promised.
What PBGC guarantees (PBGC.gov) |
fair enough, have you made other provisions in case this happens to you? the reason i ask is because i doubt there'll be any pensions left standing by the time i reach retirement age. |
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03-08-2010, 03:52 PM
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Location: Sierra Vista, AZ
15,791 posts, read 8,778,507 times
Reputation: 7440
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Quote:
Originally Posted by 58robbo
what would you have done then? how would you have prepared for your retirement?
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Since I am, by trade, a warrior. I'd have had to find another country. |
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03-08-2010, 04:07 PM
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Location: Agency Lake, Oregon
3,226 posts, read 5,598,009 times
Reputation: 2423
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Quote:
Originally Posted by 58robbo
fair enough, have you made other provisions in case this happens to you? the reason i ask is because i doubt there'll be any pensions left standing by the time i reach retirement age.
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The PBGC doesn't cover pension raided as part of takeovers, either, and it does not fully cover pensions for bankrupt companies. |
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03-08-2010, 04:21 PM
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Location: Alaska
4,312 posts, read 5,080,744 times
Reputation: 2474
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Probably nothing, as there are no true guarantees in life and there is no way that you can plan for everything that can go wrong with your retirement plan. Now if we're talking about what I will be doing, I'd likely work longer and later work part-time to make ends meet. I'd also cut back on expenses where possible.
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03-08-2010, 06:20 PM
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Location: Oregon
1,019 posts, read 1,783,679 times
Reputation: 821
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It's really very simple ~~~~
I've already done it  All of my working years, I lived BELOW my means and never on credit. That financial behavior has resulted in a comfortable retirement  |
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03-08-2010, 09:02 PM
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34,426 posts, read 30,023,477 times
Reputation: 9084
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[quote=58robbo;13210557]fair enough, have you made other provisions in case this happens to you? the reason i ask is because i doubt there'll be any pensions left standing by the time i reach retirement age.[/quot
If you believe that then you should start one of your own and not invest any money in a pension your not forced to.
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