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Johnny2X2X

(24,302 posts)

6. I'm thankful my dad has a good pension

Tue May 4, 2021, 12:07 PM

May 2021

Because he had zero financial knowhow and his other investments did nothing for him, he'd be living just off SSI if he would have controlled his investments.

Most people are financially illiterate, and they hate being told that. The American Dream was only possible for most because of the pensions system.

But people can and must learn more about investing, and it's never too late to start. Even $80K at retirement is something that they can use to really change their lifestyle when they retire. That could mean payments of $400 or $500 a month for the duration of retirement and is the difference for a lot of people between making it and not making it after SSI.

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Nomadland Exposes the Middle-Class Rip-Off [View all] thomhartmann May 2021 OP

Reagans economy could have been changed anytime in 45 years. Why hasn't it? jimfields33 May 2021 #1

You are absolutely right. former9thward May 2021 #16

Heck he had a democratic house all 8 years. jimfields33 May 2021 #17

Just the other day on this forum misanthrope May 2021 #34

+1 leftstreet May 2021 #44

++Yes I 100% agree with your post and in the du thread you mention I posted that luckone May 2021 #46

The Senate filibuster is the reason things can't change. brush May 2021 #45

Raygun destroyed the Unions, thus depriving the Democratic Party of Union $$$ Tommymac May 2021 #56

40 years of right wing talk radio Glaisne May 2021 #22

Pension vs 401K Johnny2X2X May 2021 #2

There's even more bad news on the horizon. bluesbassman May 2021 #4

I'm thankful my dad has a good pension Johnny2X2X May 2021 #6

Until inflation heats up. Sucha NastyWoman May 2021 #12

Curious what you would do to get that rate of return nilram May 2021 #19

3% on 80K is easy Johnny2X2X May 2021 #23

Ah, I wasn't counting capital. You're right, nilram May 2021 #26

Even interest income only on $80K is $200 a month Johnny2X2X May 2021 #30

You said it! Delphinus May 2021 #51

This message was self-deleted by its author Skittles May 2021 #38

Also, they may have not had to pay the penalty for withdrawal because of the pandemic, but I believe smirkymonkey May 2021 #32

Early withdrawals (under 59&1/2 y.o.) from 401k's Progressive dog May 2021 #35

It really sucks for these people. smirkymonkey May 2021 #37

Yes it does suck, Progressive dog May 2021 #57

I've been shouting this since 1990 pecosbob May 2021 #3

It's been like that for decades. Wish it would change, and our response to CV19 was a start. Hoyt May 2021 #5

The myth of pensions. PoindexterOglethorpe May 2021 #7

So true DownriverDem May 2021 #9

+1, uponit7771 May 2021 #10

But Elessar Zappa May 2021 #15

There's also a huge hunk of people PoindexterOglethorpe May 2021 #21

You seem very...I dunno...like bitter or something. ret5hd May 2021 #40

Ding ding ding! ShazzieB May 2021 #42

No, not bitter, just appalled that people make PoindexterOglethorpe May 2021 #49

Instead of being bitter over uneducated people... Tommymac May 2021 #58

Again, I am honestly not bitter. PoindexterOglethorpe May 2021 #59

Fair enough. I'll take your word. Tommymac May 2021 #60

So what is wrong with DownriverDem May 2021 #8

I felt the same way when I saw Nomadland FakeNoose May 2021 #11

Biden needs to up SS for those making a small amt - to at least $1200 womanofthehills May 2021 #13

Okay DownriverDem May 2021 #52

Get rid of the wage cap dclarston13 May 2021 #63

In the book, harvesting the sugar beets was horrible womanofthehills May 2021 #14

Thank you for this PatSeg May 2021 #18

401k's going back to Nixon were never meant to be your only retirement plan RANDYWILDMAN May 2021 #20

That he started taxing social security income is often forgotten Johnny2X2X May 2021 #24

It's not just that they tax it. They have never adjusted TexasBushwhacker May 2021 #43

I don't know if I can watch that, I'm debating... 2naSalit May 2021 #25

As a bankruptcy attorney, I can tell everyone... heckles65 May 2021 #27

yes Skittles May 2021 #39

now watch I Care A Lot lilmonkey May 2021 #28

We have a system where everyone ends up in the same state run nursing home Johnny2X2X May 2021 #33

a helluva movie ancianita May 2021 #50

Thank you, excellent article absolutely true wendyb-NC May 2021 #29

That was an excellent film, saw it twice. planning on watching again with friends. msfiddlestix May 2021 #31

I was thrilled to hear Biden say trickle down has never worked BigmanPigman May 2021 #36

I read the book. Don't get divorced in your fifties unless your name is Bezos or Gates cinematicdiversions May 2021 #41

The main character was a widow . Her husband died -at least in the movie luckone May 2021 #47

The book was non-fiction. I don't recall many if any widows cinematicdiversions May 2021 #48

I suggest reading the book lonely bird May 2021 #53

This Posting is The Best! McKim May 2021 #54

I saw "Nomadland" last night - it was a brilliant and heartbreaking film dlk May 2021 #55

I had a terrible argument with my friend watching Nomadland. Jetheels May 2021 #61

I haven't seen the movie so I have no opinion on it, but FWIW kcr May 2021 #62

This message was self-deleted by its author Roisin Ni Fiachra May 2021 #64