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Old 12-27-2010, 10:09 PM
 
31,027 posts, read 37,104,244 times
Reputation: 13325

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Quote:
Originally Posted by texdav View Post
It really depends on the pension fund and many satates do not allow the funds to be controlled by government. The funds of many are controlled as to investment by independent boards.
And much as in much of that money was used to purchase state and local bonds that would not have other wise been purchased. That funded many state and local projects.
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Old 12-28-2010, 12:27 AM
 
Location: Flippin AR
5,467 posts, read 4,724,881 times
Reputation: 6140
Quote:
Originally Posted by markg91359 View Post
My field is law. We will have social security, a government pension, totally owned real estate, and a 401K account (not a big enough one for all that has been put into it) to retire on.
Can you make room for the fact that some people are so happy in their jobs that they don't think they want to retire? Its how I feel right now. Too many people out there seem like they wish they could avoid work entirely. Maybe part of your problem was living in New Hampshire. Honestly, if the place is as bad as you say it is with taxes and low wages, I wonder why you stayed?
Being in the field of law, just like 99% of the Washington politicians, means of course you (and they) are thrilled with the way the nation is going. But you must realize that not too many Americans who hold regular jobs would agree America is prosperous and on an upward trend. "Sixty-one percent (61%) of the Political Class believe the United States is generally heading in the right direction, virtually identical to last week, while 80% of Mainstream voters think the country is going down the wrong track." Right Direction or Wrong Track - Rasmussen Reports™

I could care less about sympathy; that's not why I point out problems and dangerous trends here on CD. Lottery winners will always scoff and think they would thrive no matter what, as if their choosing of a lucky number (or easy career) was anything more than luck. As you point out, the IQ tests didn't single you out at an early age, and this of course put you OFF of the track of corporate workaholism that many high IQ people in my generation were brainwashed for: a technical job in a very large corporation. It used to be a path to success. That changed in our generation, while we worked so much and asked for so little in return.

These jobs were so sought after, so competitive, and so high-paying in previous generations, that we were far into it when the massive erosion of wages and benefits began. In short, they worked us so many hours and created a mindset that you gave EVERYTHING to the company, that we didn't notice we continued to fall behind. That, and our income tax structure that equalizes professionals with the slightly less well paid, kept us working in the same companies when we should have quit long ago. All I can say is that we were brainwashed, and never got away from the company long enough to see that many others were getting rich without destroying every waking minute of their lives.

It's great you are willing to "work" at being a lawyer forever; but would you be willing to work for a cut-throat corporate employer for 80 hours a week, one vacation a year and that on the phone solving technical problems at the plant? There easy careers (and I have to say owning a law firm is about the easiest I could imagine) and there are incredibly technical, difficult, and stressful careers. The latter burn out your health well before you are 70.

You have been very lucky financially by getting into one of the modern "lottery" fields and obviously are of the personality type to profit from it. It is not a field I consider productive or ethical. I cannot see charging people the insane amounts lawyers charge for what is basically a bureaucratic function (probate), or the modern tort liability lottery (with lawyers getting 1/3 of the victim's award), or avoiding the government's ultra-complex tax system (tax attorneys). I remember before lawyers changed everything in America, we didn't have to be constantly worried about letting the neighbor's kids on our property and getting hurt, and we could do many funs things that are now impossible due to abundance of tort liability lawyers. Government would not be so expensive if there weren't so many tort lawsuits, and health care might be actually affordable for the nation if the tort expense could be addresses.

Good that you have a pension, but we had vested pensions too. That can go away with a stroke of a pen, and 100% legally. Don't feel too secure. Same with Social Security, you must know you don't have a right to a penny in return for your taxes. Totally owned real estate is nice until your local government decides your local taxes MUST increase to meet all the pension requirements of the public employees. Can you afford $15,000 a year? How about $30,000? And when you can no longer afford what they ask, will you be able to sell? Especially with the nationwide credit mess, continuing drop in home price, and property taxes that will stop many buyers in their tracks.

This is why we are still in NH. Because we, too, totally paid off our house, we now need to try to get as close to the price we bought it for as possible. Every dollar less is a dollar we earned, paid taxes on, and then invested in the house, and lost. There is no mortgage to default on. And since our property taxes have continued to explode at an incredible rate, I now need to find a buyer that is willing to commit to a house that carries annual property taxes of $13,600 today, and probably $16,000 by the time the June bill is issued. There aren't that many overly-optimistic people here, with so many houses for sale and bank-owned at 40% discounts.

If I had found the CD site before I moved to NH to take care of my elderly Father, and learned from others of the trends that are threatening to devastate my family now, I would have done things very differently and would be long gone from here. So I think it is very important for people to know the things I regret doing, as well as the things government is doing that are destructive to the nation.

In the end we may do better than most on CD, and perhaps even you. But I see no point in boasting to everyone that I'm so successful, I'm so smart, I choose a field where I didn't have to work hard and it made me tons of money--when none of those things helps anyone on CD today. They need to know what mistakes NOT to make, like I want to know from others what things they regret doing so I don't have to make those mistakes myself.

FYI, I doubt starting your own law firm today would bring others the lottery winnings it brought you--in fact, I personally know someone who started a very successful law firm that he ended up shutting down about 3 years ago due to the Recession. He's not hurting for money, but he does better now simply being a partner in another firm.

Within the last few weeks both our employer companies have sent us to national headquaters for future planning conferences. The message from both week-long seminars was that the CEOs now acknowledge that within 15 years, the current working groups will die out, and the companies will be forced to at least double and possibly triple the number of workers. Salaries will at least double, and the benefits that had been lost during our times (the pensions, the paid health care insurance) would have to be re-instated. The work day will have to move to possibly 6 hours or less, and in the future the company will have to give 6 or more weeks of vacation, upon starting. Until all of the current workaholic generation dies out, however, no changes will be made.

So for those of you with "fun" jobs, feel free to "work" forever. Good for you! If I were a professional novel writer, or artist, or singer, I would too! But don't assume just because you won the Lottery, that everyone did--or could have, if they just had whatever wonderful thing you have that makes you better than those of us dumb enough to follow the previous generation's path to financial security. Remember, for the lottery to work, at least a million people have to lose, for one to win. And our economy isn't much different, since so many of the "jobs" today involve grabbing money as it goes by, rather than adding real value.
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Old 12-28-2010, 09:01 AM
 
11,127 posts, read 10,684,454 times
Reputation: 35661
Quote:
I could care less about sympathy; that's not why I point out problems and dangerous trends here on CD. Lottery winners will always scoff and think they would thrive no matter what, as if their choosing of a lucky number (or easy career) was anything more than luck. As you point out, the IQ tests didn't single you out at an early age, and this of course put you OFF of the track of corporate workaholism that many high IQ people in my generation were brainwashed for: a technical job in a very large corporation. It used to be a path to success. That changed in our generation, while we worked so much and asked for so little in return.
People are very different. What I can say is that I never held the goal of going to work for a large corporation. I went to high school and college with a group of friends who I now realize were a remarkably independent group of people. At a recent reunion, I learned many (as I've done) went to work for themselves. My classmates became financial planners, doctors in private practice, consulting engineers, a school principal, a fire chief, and a deputy court administrator. A couple didn't go this route at all. In some ways I envy them. They took low paying jobs, never married, and instead chose to pursue hobbies like motorcycle riding. Something bred independence in the culture in which I grew up. Short end of the stick? We got tremendous opportunities.


Quote:
It's great you are willing to "work" at being a lawyer forever; but would you be willing to work for a cut-throat corporate employer for 80 hours a week, one vacation a year and that on the phone solving technical problems at the plant? There easy careers (and I have to say owning a law firm is about the easiest I could imagine) and there are incredibly technical, difficult, and stressful careers. The latter burn out your health well before you are 70.
I am happy with the career choice I made. This should not be confused with the idea that it was easy or "like winning the lottery". Although, I suspect when you view others who have succeeded in life that's probably your take on it. I have a job with no paid vacation time, no paid sick leave, no retirement other than social security, no set salary, and no paid for benefits of any kind. What keeps me going than? You have to love what you do. You have to love being your own boss and the independence that comes with it.

Working for one's self can come with quite a price tag at times. I've had months in a row where I've lost money. There are huge bills for rent, advertising, office supplies, new equipment, and, the worst of all, payroll. I bet you've never once had to go to bank and borrow money to meet the payroll for an organization. Do that and than tell me how easy I've had it, ok?

Did you ever go to work with a kidney stone hurting like hell because you couldn't afford to miss an opportunity? Did you go to work with a strep infection for the same reasons? I have health insurance now. But did you ever have to pay cash to get your kids treated by the doctor because there was a time, starting out, you couldn't afford it?

Self employment isn't for everyone. Oh, I've had a few breaks too, but don't go telling ME how easy I had it though until YOU have done the same.


Quote:
You have been very lucky financially by getting into one of the modern "lottery" fields and obviously are of the personality type to profit from it. It is not a field I consider productive or ethical. I cannot see charging people the insane amounts lawyers charge for what is basically a bureaucratic function (probate), or the modern tort liability lottery (with lawyers getting 1/3 of the victim's award), or avoiding the government's ultra-complex tax system (tax attorneys). I remember before lawyers changed everything in America, we didn't have to be constantly worried about letting the neighbor's kids on our property and getting hurt, and we could do many funs things that are now impossible due to abundance of tort liability lawyers. Government would not be so expensive if there weren't so many tort lawsuits, and health care might be actually affordable for the nation if the tort expense could be addresses.
All you know is the media hype that has been fed to you over the years about the legal profession. My legal practice didn't (and still doesn't) involve representing big corporations or the wealthy. I've represented the poor and middle class for 26 years. There is no greater honor available in life than to represent such people. By providing the services that I have to this group I have helped make democracy and freedom something more than simply empty promises to those in America who are not in the top 1% income bracket. My wife, who has worked in the nursing field has also done her share. We professional people are the ones who make things happen in this country. We treat the sick, we solve the problems and disputes that exist in society, we design the buildings and infrastructure, and we teach the children.

People who don't understand what I do are generally the ones who consider it "unethical or non-productive". I've reached a point in my life where I no longer care what people like you think. The important thing to me is that I know what I do is ethical and productive both.


Quote:
Good that you have a pension, but we had vested pensions too. That can go away with a stroke of a pen, and 100% legally. Don't feel too secure. Same with Social Security, you must know you don't have a right to a penny in return for your taxes. Totally owned real estate is nice until your local government decides your local taxes MUST increase to meet all the pension requirements of the public employees. Can you afford $15,000 a year? How about $30,000? And when you can no longer afford what they ask, will you be able to sell? Especially with the nationwide credit mess, continuing drop in home price, and property taxes that will stop many buyers in their tracks.

This is why we are still in NH. Because we, too, totally paid off our house, we now need to try to get as close to the price we bought it for as possible. Every dollar less is a dollar we earned, paid taxes on, and then invested in the house, and lost. There is no mortgage to default on. And since our property taxes have continued to explode at an incredible rate, I now need to find a buyer that is willing to commit to a house that carries annual property taxes of $13,600 today, and probably $16,000 by the time the June bill is issued. There aren't that many overly-optimistic people here, with so many houses for sale and bank-owned at 40% discounts.
All I can say is if NH is as bad a place as you claim it is than I'd probably sell the home I owned outright at a loss to get out of there. Sometimes we make choices in our life that turn out to be poor choices. When that happens its important not to compound an error by staying with that choice. My advice is move somewhere inland in this country where the cost of living and taxes are cheaper.

Your comments about social security are really what has turned me against you. Social security whether it has a good rate of return or not is an absolute necessity for most people in this country. You want an ugly situation? Abolish it and take a look at the enormous poverty and social upheaval that will follow.


Quote:
FYI, I doubt starting your own law firm today would bring others the lottery winnings it brought you--in fact, I personally know someone who started a very successful law firm that he ended up shutting down about 3 years ago due to the Recession. He's not hurting for money, but he does better now simply being a partner in another firm.
Oh, timing is important don't get me wrong. But the thing I've really noticed about "luck" is that to some degree we make our own luck in this world. Opportunities are out there for bright people. What you have to be able to do is to network with others and recognize those opportunities. I know young men in my community right now who recently formed law firms focusing on bankruptcy and debt relief and doing very well. That's not my area, but they saw an opportunity and went with it.


Quote:
So for those of you with "fun" jobs, feel free to "work" forever. Good for you! If I were a professional novel writer, or artist, or singer, I would too! But don't assume just because you won the Lottery, that everyone did--or could have, if they just had whatever wonderful thing you have that makes you better than those of us dumb enough to follow the previous generation's path to financial security. Remember, for the lottery to work, at least a million people have to lose, for one to win. And our economy isn't much different, since so many of the "jobs" today involve grabbing money as it goes by, rather than adding real value.

And every age has seen its share of pessimists and "ne'er do wells" too.
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Old 12-28-2010, 11:34 AM
 
Location: The South
767 posts, read 2,097,290 times
Reputation: 701
[quote=markg91359;17160591] But the thing I've really noticed about "luck" is that to some degree we make our own luck in this world.



QUOTE]

This is so true.
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Old 12-28-2010, 03:23 PM
 
Location: Las Vegas
14,188 posts, read 27,051,006 times
Reputation: 27439
Quote:
Originally Posted by Heidi60 View Post
Yellowsnow, where do I vote for you?

Also, I lost my Dad when I was 4 years old and he was a 31 year old high school teacher. My Dad didn't have enough credits for us be eligible for any benefits. So, in that situation, what contributions he made just became pure government profit instead of helping 4 and 7 year children. My brother also paid in until he suddenly died of a heart attack at 45 so he never collected a dime. Not everyone who contributes to the system lives long enough benefit from it. If they increase the SS age to 100 the government can reduce their pay out to all us working people.

People are coming here from all over the world for our welfare benefits so I'm glad someone has finally starting checking to reduce fraud. Keep up the good work.
Just write me in for everything, everywhere. A vote for Yellowsnow is no more of a waste than whomever you have been voting for the past few decades anyway. Who knows, maybe this will go viral and I will be elected to dogcatcher in East Podunk.
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Old 12-28-2010, 03:38 PM
 
2,888 posts, read 5,852,064 times
Reputation: 4640
When I was younger, I would have happily paid into a Social Security system that I would never benefit from. I owed that to my parents and grandparents. I would have been will to do this until I was about 36. That would have been 15 years paying into the system.

That would leave me another 30 years to take my portion of the SS tax and invest it for my own retirement.

Guess what - I'm way over 36. I'll help take care of my Mom as she ages. Age 67 looms ahead of me and I'm scared to death. SSI will, most likely, be gone. No inheritance from family and no kids to help me out.

I'm not sure I feel entitled, but I don't want to end up in the poor house either.
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Old 12-28-2010, 03:43 PM
 
Location: Las Vegas
14,188 posts, read 27,051,006 times
Reputation: 27439
If you feel bad about collecting SS, don't apply. It's that simple. The government forces you to contribute earnings but they don't force you to take the payout. Problem solved. And I'm all for people who have plenty of money choosing not to take SS. Good for you and congratulations on being so successful.

There are scads of people in our age bracket who have lost a huge part of their assets over the past decade or so. People who did everything right and to the best of their ability. I am one of them. I lost about 350K in the real estate bust. It just happened. The only debt I've had for the past 20 years or so was a mortgage. I paid cash for everything else. No second mortgages, no expensive toys. I saved money and lived relatively frugally. My big payout was losing a boatload of money. If this hadn't happened, perhaps I could have been one of the people who didn't need SS. Too bad, but now I need SS more than ever.

The young folks who were worked over have time to replace what they lost. The older folks don't. Especially if they find themselves unemployed. No one wants to hire an older person who was making 6 figures for a $10 per hour job.
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Old 12-28-2010, 04:51 PM
 
Location: Ponte Vedra Beach FL
14,628 posts, read 19,175,501 times
Reputation: 6738
Quote:
Originally Posted by NHartphotog View Post
Being in the field of law, just like 99% of the Washington politicians, means of course you (and they) are thrilled with the way the nation is going. But you must realize that not too many Americans who hold regular jobs would agree America is prosperous and on an upward trend. "Sixty-one percent (61%) of the Political Class believe the United States is generally heading in the right direction, virtually identical to last week, while 80% of Mainstream voters think the country is going down the wrong track." Right Direction or Wrong Track - Rasmussen Reports™

I could care less about sympathy; that's not why I point out problems and dangerous trends here on CD. Lottery winners will always scoff and think they would thrive no matter what, as if their choosing of a lucky number (or easy career) was anything more than luck. As you point out, the IQ tests didn't single you out at an early age, and this of course put you OFF of the track of corporate workaholism that many high IQ people in my generation were brainwashed for: a technical job in a very large corporation. It used to be a path to success. That changed in our generation, while we worked so much and asked for so little in return.

These jobs were so sought after, so competitive, and so high-paying in previous generations, that we were far into it when the massive erosion of wages and benefits began. In short, they worked us so many hours and created a mindset that you gave EVERYTHING to the company, that we didn't notice we continued to fall behind. That, and our income tax structure that equalizes professionals with the slightly less well paid, kept us working in the same companies when we should have quit long ago. All I can say is that we were brainwashed, and never got away from the company long enough to see that many others were getting rich without destroying every waking minute of their lives.

It's great you are willing to "work" at being a lawyer forever; but would you be willing to work for a cut-throat corporate employer for 80 hours a week, one vacation a year and that on the phone solving technical problems at the plant? There easy careers (and I have to say owning a law firm is about the easiest I could imagine) and there are incredibly technical, difficult, and stressful careers. The latter burn out your health well before you are 70.

You have been very lucky financially by getting into one of the modern "lottery" fields and obviously are of the personality type to profit from it. It is not a field I consider productive or ethical. I cannot see charging people the insane amounts lawyers charge for what is basically a bureaucratic function (probate), or the modern tort liability lottery (with lawyers getting 1/3 of the victim's award), or avoiding the government's ultra-complex tax system (tax attorneys). I remember before lawyers changed everything in America, we didn't have to be constantly worried about letting the neighbor's kids on our property and getting hurt, and we could do many funs things that are now impossible due to abundance of tort liability lawyers. Government would not be so expensive if there weren't so many tort lawsuits, and health care might be actually affordable for the nation if the tort expense could be addresses.

Good that you have a pension, but we had vested pensions too. That can go away with a stroke of a pen, and 100% legally. Don't feel too secure. Same with Social Security, you must know you don't have a right to a penny in return for your taxes. Totally owned real estate is nice until your local government decides your local taxes MUST increase to meet all the pension requirements of the public employees. Can you afford $15,000 a year? How about $30,000? And when you can no longer afford what they ask, will you be able to sell? Especially with the nationwide credit mess, continuing drop in home price, and property taxes that will stop many buyers in their tracks.

This is why we are still in NH. Because we, too, totally paid off our house, we now need to try to get as close to the price we bought it for as possible. Every dollar less is a dollar we earned, paid taxes on, and then invested in the house, and lost. There is no mortgage to default on. And since our property taxes have continued to explode at an incredible rate, I now need to find a buyer that is willing to commit to a house that carries annual property taxes of $13,600 today, and probably $16,000 by the time the June bill is issued. There aren't that many overly-optimistic people here, with so many houses for sale and bank-owned at 40% discounts.

If I had found the CD site before I moved to NH to take care of my elderly Father, and learned from others of the trends that are threatening to devastate my family now, I would have done things very differently and would be long gone from here. So I think it is very important for people to know the things I regret doing, as well as the things government is doing that are destructive to the nation.

In the end we may do better than most on CD, and perhaps even you. But I see no point in boasting to everyone that I'm so successful, I'm so smart, I choose a field where I didn't have to work hard and it made me tons of money--when none of those things helps anyone on CD today. They need to know what mistakes NOT to make, like I want to know from others what things they regret doing so I don't have to make those mistakes myself.

FYI, I doubt starting your own law firm today would bring others the lottery winnings it brought you--in fact, I personally know someone who started a very successful law firm that he ended up shutting down about 3 years ago due to the Recession. He's not hurting for money, but he does better now simply being a partner in another firm.

Within the last few weeks both our employer companies have sent us to national headquaters for future planning conferences. The message from both week-long seminars was that the CEOs now acknowledge that within 15 years, the current working groups will die out, and the companies will be forced to at least double and possibly triple the number of workers. Salaries will at least double, and the benefits that had been lost during our times (the pensions, the paid health care insurance) would have to be re-instated. The work day will have to move to possibly 6 hours or less, and in the future the company will have to give 6 or more weeks of vacation, upon starting. Until all of the current workaholic generation dies out, however, no changes will be made.

So for those of you with "fun" jobs, feel free to "work" forever. Good for you! If I were a professional novel writer, or artist, or singer, I would too! But don't assume just because you won the Lottery, that everyone did--or could have, if they just had whatever wonderful thing you have that makes you better than those of us dumb enough to follow the previous generation's path to financial security. Remember, for the lottery to work, at least a million people have to lose, for one to win. And our economy isn't much different, since so many of the "jobs" today involve grabbing money as it goes by, rather than adding real value.
I'm a lawyer like Mark - and not thrilled with the direction the country is taking.

But the US being prosperous and not being on an upward trend aren't mutually exclusive. And perhaps the lack of an upward trend has a lot with how people live these days. Always in the present - always "needing" the latest toys - even if bought on credit. No savings. No thought to the future. Gloria Steinem once said "rich people plan for 3 generations - poor people plan for Saturday night". In recent decades - seems like a whole lot of people who aren't poor have only been planning for Saturday night.

I can understand some people my age who haven't been able to plan for the future - because they've been poor their whole lives. And sometimes it wasn't their fault. Sh** happens. And then there are middle class people who ran into unanticipated disasters. Illness - disability - etc. Note that I don't believe that a fall in the stock market or the value of one's house is an unanticipated disaster. If someone has half a brain - he or she should realize that the values of these things go up AND down. And not necessarily at convenient times.

Note that you have some strange ideas about what it means to be a lawyer who starts and runs a small practice. Like Mark - my husband and I did that. And we encountered many of the same things he mentioned. We worked our tails off. Did we have a little luck too - yes? In several areas of our lives. And we had some bad luck too. Luckily - the hard work and good luck outweighed the bad luck.

Also - we made the decision very early on to leave the northeast and the corporate law world for the "hinterlands" - which at that time included Miami (where we moved) - and also places like Los Angeles and San Francisco and Houston and Dallas and Atlanta. It just seemed very stuffy to us (especially the legal profession up there).

Note that unlike Mark - at a certain point we didn't really like practicing law - and retired early. The turning point for me was my small firm was representing a client on death row (for free). And the governor signed a death warrant 2 days after I had a hysterectomy. So I had to hobble into work 4 days post-op - doped up to my eye balls - and run around courtrooms asking judges to continue this and that while 2 other lawyers in my office worked on the death warrant. No judge was sympathetic (who likes guys on death row?) - but one judge threw me into jail for contempt after he refused a continuance and I refused to proceed (I'd never seen the case before - it wasn't mine - the file was 6 inches high - and I didn't exactly feel competent to do anything other than go to sleep with all the Percocet I had in me). Luckily - I had a good friend who was a great criminal lawyer - and I used my one phone call on him . But can you imagine - a woman 4 days post-op sitting in jail for 3 hours with my surgical wound still draining. Didn't quit the next day - but started to plan for my "escape". And just FWIW - that judge had the nerve to ask our firm for a campaign contribution for his re-election bid that year. So if you think being a lawyer is a life on "easy street" - think again.

Now I am not totally unsympathetic to your situation - because it isn't uncommon - although I've seen cases a lot worse than yours. Like a family member who had a sales job in an automotive related company in the Detroit area. Good pay - good benefits. Over the years - as the auto industry there declined - so did his job. And it eventually disappeared. The kicker is that his wife - who works at the University of Michigan - has cancer. If they were to move to a place where he could find a job - they would lose their medical insurance coverage (and try to get health insurance when you're a 55 year old cancer survivor). So this family member has been trying to make lemonade out of lemons. He's handy - and started a home handyman/repair business. It was doing ok until the recession - then it got bad. But - as the auto industry in the Detroit area has started to recover - so has his business. I have my fingers crossed for him and his wife.

Your story reminds me of the story about the frog and the pot of water. If you drop a frog into a boiling pot of water - it will jump out immediately. But if you put the frog in cold water - and then heat it slowly to boiling - the frog will stay in the water and eventually die. You still didn't say how old you are - but I think you're the frog in the water while it's still warm - but not boiling. You have a chance to jump out and try something else. FWIW - my husband and I spoke with an old friend in New Hampshire over the holidays. She's about 64 - and even she is thinking of moving from New Hampshire to pursue career opportunities elsewhere (she confirmed your observations about what's happening in that state).

In any event - you can be bitter about what happened to you (even though I still don't know exactly what it was). But don't sit at your computer and bit** about it all the time. Do something about it. You must have some job skills - and I think parts of the economy are starting to recover now (OTOH - I wouldn't come down to Florida to work in the construction trades). And although you may have to take a loss on your house - there are real estate bargains in many areas of the US today. New Hampshire real estate prices aren't the only ones with problems. Ask anyone in Florida .

And again - just curious - what's the appraised value of your house (I thought your real estate taxes sounded really high - even for a state without an income tax). Robyn
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Old 12-28-2010, 05:03 PM
 
Location: Ponte Vedra Beach FL
14,628 posts, read 19,175,501 times
Reputation: 6738
Quote:
Originally Posted by MissNM View Post
When I was younger, I would have happily paid into a Social Security system that I would never benefit from. I owed that to my parents and grandparents. I would have been will to do this until I was about 36. That would have been 15 years paying into the system.

That would leave me another 30 years to take my portion of the SS tax and invest it for my own retirement.

Guess what - I'm way over 36. I'll help take care of my Mom as she ages. Age 67 looms ahead of me and I'm scared to death. SSI will, most likely, be gone. No inheritance from family and no kids to help me out.

I'm not sure I feel entitled, but I don't want to end up in the poor house either.
If you're 67 now - and not wealthy - I doubt any possible changes will affect you. The most probable change I see in the near future is taxation of more benefits (up to 100%) at lower income levels than those in effect now. But not for people whose incomes are now at levels where they're worrying about how they'll get by.

With regard to your Mom - before you spend your own money - take a look here:

https://ssl1.benefitscheckup.org/

Robyn
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Old 12-29-2010, 05:50 PM
 
Location: west mich
5,739 posts, read 6,215,376 times
Reputation: 2121
Part of the original article was why do seniors actually vote against their own interests.
As you know there are "senior citizen centers" throughout the country, run locally by city, township, or county. These are places for seniors to gather, learn, get info pertinent to them, recreate, watch TV.
Many of these centers here in Michigan are running Fox News consistently on their big-screen TVs.
Since I don't frequent these places, the question on my mind is - who decides what stations are shown? I know you seniors across the country have insight into this. Please share!
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