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How to Live on Retirement Income...
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Author | Message |
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Michael T. Allison Retired USN Send message Joined: 25 Oct 07 Posts: 462 Credit: 20,802 RAC: 0 |
Subject: How to live on retirement income |
Robert Waite Send message Joined: 23 Oct 07 Posts: 2417 Credit: 18,192,122 RAC: 59 |
I'm not sure as to the target of your anger. Is it the Clintons, or the system that they are part of? Every ex-president is protected by Secret Service for obvious reasons. Every ex-senator and congress member is allowed a pension. Would the news that Newt Gingrich is collecting the same pension upset you as much? Well, he is. So is Daddy Bush who, by the way, has made way more money than Bill Clinton since leaving office. Don't make the mistake of thinking I'm OK with these gold plated pension plans that politicians give to themselves, because I'm not. We have a similar situation here in Canada where a Member of Parliament needs only 6 years of service to qualify for a parliamentary pension. Nowhere in the real world do people enjoy such a perk and I think it`s only fair to point out that politicians from every party take advantage of the system, so in fairness, get angry at all of them and get angry at the system they have put in place for their own benefit. Try not to single out a few individuals for selective anger for something they, and every other politician do. Of course, this situation could never happen in a world where citizens watched what their elected representatives were doing all the time. |
John Clark Send message Joined: 29 Sep 99 Posts: 16515 Credit: 4,418,829 RAC: 0 |
It's the same in all countries. People with real jobs whose taxes fund them do not get the same, unless they start and, successfully, run their own business. Life is a bitch, and the secret is who you know, your networks, and not what skills or knowledge you have It's good to be back amongst friends and colleagues |
BrainSmashR Send message Joined: 7 Apr 02 Posts: 1772 Credit: 384,573 RAC: 0 |
I'm not sure as to the target of your anger. That's a gross over simplification of the problem. The Clinton's are "double dipping" while you point fingers at Bush. |
Jeffrey Send message Joined: 21 Nov 03 Posts: 4793 Credit: 26,029 RAC: 0 |
the secret is who you know, your networks, and not what skills or knowledge you have And believe me, it shows... Maybe we should replace the phrase: 'It's hard to find good help these days'. With this phrase: 'It's hard to find people like us who are worth a damn'... ;) (Never underestimate stupid people in large numbers.) It may not be 1984 but George Orwell sure did see the future . . . |
Michael T. Allison Retired USN Send message Joined: 25 Oct 07 Posts: 462 Credit: 20,802 RAC: 0 |
I'm not sure as to the target of your anger. I'm not angry at all. This was sent to me in an e:mail. I posted it here to see what others would say. My monthly income comes in the form of Federal Goverment service connected disability Compensation as well as Social Security. I was injured and left paralyzed while on active duty in the USN. So I'm a happily retired Man... |
Clyde C. Phillips, III Send message Joined: 2 Aug 00 Posts: 1851 Credit: 5,955,047 RAC: 0 |
Don't buy it unless you need it (badly) or want it real badly. Always look for sales or alternatives. Always make sure you will not run out of money, not trip bank fees, and always pay off credit card balances in full. Stay away from loans, lotteries and gambling. |
Michael T. Allison Retired USN Send message Joined: 25 Oct 07 Posts: 462 Credit: 20,802 RAC: 0 |
Don't buy it unless you need it (badly) or want it real badly. Always look for sales or alternatives. Always make sure you will not run out of money, not trip bank fees, and always pay off credit card balances in full. Stay away from loans, lotteries and gambling. never mind |
Michael T. Allison Retired USN Send message Joined: 25 Oct 07 Posts: 462 Credit: 20,802 RAC: 0 |
Don't buy it unless you need it (badly) or want it real badly. Always look for sales or alternatives. Always make sure you will not run out of money, not trip bank fees, and always pay off credit card balances in full. Stay away from loans, lotteries and gambling. common sense |
Robert Waite Send message Joined: 23 Oct 07 Posts: 2417 Credit: 18,192,122 RAC: 59 |
Hey Michael, I'm sorry to learn that you were injured while in service to your country and also glad to see you refer to yourself as a happily retired man. Thank you man |
Robert Waite Send message Joined: 23 Oct 07 Posts: 2417 Credit: 18,192,122 RAC: 59 |
I'm not sure as to the target of your anger. I keep forgetting that you need things kept simple. They ALL double dip. The system is flawed. |
Michael T. Allison Retired USN Send message Joined: 25 Oct 07 Posts: 462 Credit: 20,802 RAC: 0 |
Hey Michael, I'm sorry to learn that you were injured while in service to your country and also glad to see you refer to yourself as a happily retired man. Bless You and Yours Robert |
Robert Waite Send message Joined: 23 Oct 07 Posts: 2417 Credit: 18,192,122 RAC: 59 |
I appreciate everything you guys do...or did in the service. I bartended in Vancouver years ago and whenever some members of any of the armed services wandered in I would but their first round...no matter what country they served. Being located downtown meant we saw a lot of US and Canadian sailors. Hell, you might even have been one of them. It was the Sportsline Lounge in the Sandmann Hotel...right near BC Place (Vancouver's domed stadium) |
BrainSmashR Send message Joined: 7 Apr 02 Posts: 1772 Credit: 384,573 RAC: 0 |
They ALL double dip, huh? I wasn't aware that Mrs. Bush and Gingrich were also drawing government pensions. ...or maybe, once again, you've oversimplified the situation into a blatant lie. |
jim little Send message Joined: 3 Apr 99 Posts: 112 Credit: 915,934 RAC: 0 |
To regain the subject I offer the following preparation for retirement: 1. Pay for your house (if you live out of the big cities) before retiring. That explicitly requires living on less than your income. It also makes poor people out of those in the real estate business. When your house is paid for find a good investment for your former payments. We chose a tax exempt bond fund from a low expense company. These are few and far between. Be sure it is exempt for both federal and state you live in. If you have no state income taxes look for best yield. Have check writing on the fund if possible. We pay our taxes on property this way. As inflation increases the value of property then increase the deposits. Ours are now many times the original payment on the loan. It is a very comfortable protection from any emergency expense. 2. Of course you should get any possible match in your 401K or similar. My thought is the rest should be in Roth if you are eligible. That keeps the tax collector away when your money. Then invest any windfall amounts. 3. Lottery tickets are for those who like to light their cigars with ten dollar bills. Same for any other "legal" gambling. 4. Use Mr. Buffetts time table for investments in stocks: Hold forever. I got same advice from a local broker forty-five years ago. We still use this method. Choosing the right stock is a second skill. I can't help on this. Try the Motley Fool web site. 5. If possible have an employer who has retirement plan. Same for medical plan. 6. Wear out your car. We usually replace cars around 150,000 miles. A few went longer. We drive carefully and have not wrecked one yet. Happily retired for a dozen years now. And solvent. |
Robert Waite Send message Joined: 23 Oct 07 Posts: 2417 Credit: 18,192,122 RAC: 59 |
Do you ever get anything straight? Why are you saying Mrs. Bush? When did one of the Bush women get elected to qualify for a congressional pension in the first place? The Bush I was pointing to was Daddy Bush. I guess the word "Daddy" wasn't gender specific enough for you. Of course Gingrich is eating the government cheese too. |
BrainSmashR Send message Joined: 7 Apr 02 Posts: 1772 Credit: 384,573 RAC: 0 |
Einstein, isn't "Daddy Bush's" wife also referred to as Mrs. Bush? Care to show us that amazing Canadian intelligence and take a guess at what some might call Newt's wife? BTW, nice of you to finally admit that they are in fact NOT double dipping in the government tax pot. |
Robert Waite Send message Joined: 23 Oct 07 Posts: 2417 Credit: 18,192,122 RAC: 59 |
Get some help dude because I really have no idea as to what you are trying to communicate to this topic. You've stepped over the abyss. |
Michael T. Allison Retired USN Send message Joined: 25 Oct 07 Posts: 462 Credit: 20,802 RAC: 0 |
Get some help dude because I really have no idea as to what you are trying to communicate to this topic. Look at the Dudes Nickname "BrainSmashR", His own brain is SMASHED... |
Michael Send message Joined: 21 Aug 99 Posts: 4608 Credit: 7,427,891 RAC: 18 |
The only person who mentioned anything about a wife is you. I'm not sure as to the target of your anger. |
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