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God Bless You for being a productive member of Society.
May many good fortunes come your way.
The first two years were the winding down period.
The rest is Saturday every day.................
Regulation needs to be set in place.
Unfortunately the immediate outcome is usually catastrophic before stabilization
grabs hold and the city is not willing to take that chance right at this moment.
That is why we are seeing nothing but Controlled Chaos everywhere we turn.
Social security is chump change. Many people don't have fully paid off home loans, some are forced to retire early due to disability or lack of work. Renters can be okay but many are paying 80% of their income from SS to pay for it.
Drugs is just the tip of the iceberg, pensions existed in the first place because the city was making money to cover it due to real estate and the stock market, also had bonds to pay it. When either or both goes to crap, the city can't afford it.
ITS NOT WORKING AND WILL GET WORSE. Just like rent stabilization and regulation hasn't worked.
Thankfully, I invested in NYC real estate. I won't need a pension or social security.
And if you get sick in old age you will need to liquidate those investments for your nursing home care. Should you suffer a stroke and be able to speak, your fate will be in the hands of others. Should Medicaid get involved, they will ultimately seize your investments.
And yes, unless you intend to liquidate your investments, you will need your social security or pension income.
Did i say i wanted social security and pensions to be cut?
My point is, it isn't working the way its set up now. Cities are crying broke across the country due to outreagous pensions.
While Social security is chump change and most disabled and retirees cant even live off of it.
Change needs to come or else the future generations will suffer.
Cities are not broke because of pensions....cities are broke because of mismanagement, corruption and excessive social nets that are never considered for reduction. At least the people who work and are in a pension system contribute to society. May I take you on a tour of some of our fine housing projects to see where your money goes. NYCHA, How about our infrastructure ? Think of it, NYS has highest property taxes, real estate transfer taxes, cigarette taxes in the country, highest parking fines, highest tolls, New York City has its own income tax, ...so you have all this revenue being collected...where is the $*$&$(&: money going ? This state spend s more per pupil overwhelmingly over any other US state and the students still perform below average.
That’s why your cities are broke. These scumbag politicians are failing all of us.
Cities are not broke because of pensions....cities are broke because of mismanagement, corruption and excessive social nets that are never considered for reduction. At least the people who work and are in a pension system contribute to society. May I take you on a tour of some of our fine housing projects to see where your money goes. NYCHA, How about our infrastructure ? Think of it, NYS has highest property taxes, real estate transfer taxes, cigarette taxes in the country, highest parking fines, highest tolls, New York City has its own income tax, ...so you have all this revenue being collected...where is the $*$&$(&: money going ? This state spend s more per pupil overwhelmingly over any other US state and the students still perform below average.
That’s why your cities are broke. These scumbag politicians are failing all of us.
I agree with all the above however it’s not just NYC. This is an issue facing multiple states and cities. You have people at the DOE getting almost 500k in pension, that’s just ridiculous
pensions just as like social security were never meant to support anyone 100% . retirement was always supposed to be the 3 legged proverbial stool .pension-social security-your own savings .
for most of us it has become a 2 legged stool , just social security and our own savings . but certainly pension alone was never supposed to be the main support for those who had them . if they were big enough ,great but very few had pensions that supported them 100% and let them own real estate in high cost areas .
Social security is chump change. Many people don't have fully paid off home loans, some are forced to retire early due to disability or lack of work. Renters can be okay but many are paying 80% of their income from SS to pay for it.
Drugs is just the tip of the iceberg, pensions existed in the first place because the city was making money to cover it due to real estate and the stock market, also had bonds to pay it. When either or both goes to crap, the city can't afford it.
ITS NOT WORKING AND WILL GET WORSE. Just like rent stabilization and regulation hasn't worked.
Thankfully, I invested in NYC real estate. I won't need a pension or social security.
a couple with a solid work history can get more than 80k in ss today if they delay to the max . not exactly chump change . we get 40k and my wife has a crappy work history . it would have been 50k if i wanted to delay longer.
just because someone has a low work history does not mean the system is chump change .
Older folks leave NYC for better quality of life, to live closer to grandkids,return to country of origin, or lower cost of living. Make that pension and annuity last is the goal.
With aching joints, these folks want sun and good weather. They ain't messing with the snow . Also to a state like Florida and their tax set up,it makes sense. If they were homeowners, they cash in and buy a home down south,in cash.
How good can it get? If I had money coming in in the form of a pension,SS, and savings, screw NYC and those big effin rats, and living the rat race.
Places like NC are becoming more and more popular.55+ communities are set up down south, so the seniors can avoid loud wild kiddies, and punks blasting their music.
Some seniors do not realize there is a program that will freeze your rent when you reach a certain age. It is an incentive to stay
There was an ad in the local newspaper recently about the NYC rent freeze program. I gave it to an 82 -year-old lady who is being forced out from our residence by the management. I was hoping it would help her. The point is what you are saying is very true. Seniors should search for programs that could help them survive!
There was an ad in the local newspaper recently about the NYC rent freeze program. I gave it to an 82 -year-old lady who is being forced out from our residence by the management. I was hoping it would help her. The point is what you are saying is very true. Seniors should search for programs that could help them survive!
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