A quarter of Americans are expecting to delay their retirement due to rising consumer costs, according to a new study

bdgan

Well-Known Member
May 29, 2008
63,343
40,876
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Its funded. Taken care of every year. Just like social security is always funded.
According to the most recent Congressional Research Service Report on CSRS, the following should be noted in lieu of your "claim":
"Income and Expenditures of the Civil Service Retirement and Disability Fund The CSRDF began FY2018 with a balance of $897.7 billion. By law, these assets are invested in special-issue U.S. Treasury bonds. The balance of the trust fund represents budget authority available to pay benefits under both CSRS and FERS. The fund’s end-of-FY2018 balance of Federal Employees’ Retirement System: Summary of Recent Trends Congressional Research Service 11 $915.3 billion was more than 10 times the value of the CSRS and FERS annuities paid from the fund that year. "
And, the number of CSRS annuitants keeps decreasing every year. So just keep paying your taxes, Slick. And stop with your Grover Norquist propaganda bull shit. CSRS is well taken care of.
You really should stop opining with BS alt-right-anti-tax-knuckle-head talking points, on things you know absolutely not a ****ing thing about. I suppose you like Rick Scott's plan to gut social security, by continuing to fool people into thinking "we'll never see the money" with bullshit scare tactics.
 

ao5884

Well-Known Member
Oct 1, 2019
7,870
8,097
1
Good article that points out why prices are what they are . The global impacts have been tough on every country. It is a shame Republicans keep voting against measures to stop price gauging by the gas producers and big pharma/ the whores only care about their financial supporters and not the American people. I’m not sure how any average American thinks the Republican Party will ever do anything for them . It is a great con. That’s what they are good at. Thanks for posting this article.
We didn't vote for 40 year high inflation, record gas prices etc..... that would be those that voted for biden.
 

bison13

Well-Known Member
Dec 22, 2007
8,111
7,697
1
I absolutely have planned to work an extra couple of years, but that is mainly so my kids dont get completely effed. The current economy is probably taking the extra time from 1 or 2 years to 3 or 4 years though. The mortgage has such a low rate I dont want to pay it off but when the time comes I can if I need too. Ill get a good pension and have investments that will supplement my pension (that is if Biden doesnt tank things any worse than what I expect is coming over the next 6 months) and my wife and I will make good salaries for the rest of our careers to be able to keep saving.

Our kids are very young so the college costs are a bit worrysome but we aren't people that will allow our kids to go to a little lib arts school to major in some crap major, those people who do that never end up being productive members of society. If my kids want to go to college but not a stem or business field, we will make sure they know the projected outcome. I will help in setting up my kids to pursue trade school or their own business opportunities if they choose that route too.

The other issue is that if the Dems win and keep taxing and handing out money for ridiculous green policies and such, they will just keep inflation up and then they will start the cycle of trying to raise minimum wage again and give more handouts and pretty soon a 100k/yr job will be needed just to buy groceries
 

Catch50

Well-Known Member
Feb 5, 2003
36,863
2,408
1
The biggest worldwide issue is liberal policies. You democrats want to use the economic problems elsewhere to not take any responsibility for destroying our economy.

But it is a horrible argument to say democrats aren't at fault for our economy failing because the EU and other places are doing really poorly as a result of years of liberal policies there. And- because liberal policies are failing everywhere and it's not just the US, we should vote for more of those failing policies.
Your solutions?
 

rutgersdave

Well-Known Member
Jan 23, 2004
761
399
1
SS wouldn't even be necessary if people acted responsibly and saved. Unfortunately many don't. It's even more unfortunate that the government spent the employees forced savings instead of investing it on their behalf.

I disagree that you have to make a lot if money for a 401k plan to work. It just takes discipline. If you make $60k learn to live on $55k. The employer will kick in $2.5k for a total of $7.5k. $7.5k for 30+ years at a 9.5% annual return will create a great supplement to SS.
In 1985, the family median income was $24k so $5k saving for 1985 isn‘t realistic. See median income by year.
DateValue
Dec 31, 202067,521.00
Dec 31, 201968,702.36
Dec 31, 201863,179.34
Dec 31, 201761,371.89
Dec 31, 201659,038.75
Dec 31, 201556,515.94
Dec 31, 201453,656.66
Dec 31, 201351,939.25
Dec 31, 201251,017.21
Dec 31, 201150,053.58
Dec 31, 201049,276.21
Dec 31, 200949,777.12
Dec 31, 200850,302.65
Dec 31, 200750,232.63
Dec 31, 200648,200.88
Dec 31, 200546,326.22
Dec 31, 200444,333.75
Dec 31, 200343,317.77
Dec 31, 200242,409.23
Dec 31, 200142,228.04
Dec 31, 200041,989.89
Dec 31, 199940,695.87
Dec 31, 199838,884.82
Dec 31, 199737,005.25
Dec 31, 199635,492.29
Dec 31, 199534,075.74
Dec 31, 199432,264.17
Dec 31, 199331,241.28
Dec 31, 199230,636.15
Dec 31, 199130,125.81
Dec 31, 199029,943.02
Dec 31, 198928,905.97
Dec 31, 198827,224.93
Dec 31, 198726,061.18
Dec 31, 198624,896.81
Dec 31, 198523,617.90


In addition, looking at the DOW chart, after 2008 the returns were extremely exaggerated due to lowering the interest rates to almost zero for 13 years. We will never have the returns again like that 13 years (2008-2021) because we will not lower rates to zero again.

Past performance is no guarantee of future results" is generally treated as a warning label: Don't assume an investment will continue to do well in the future simply because it's done well in the past.

Saving is great but you need to make above average income to be able to retire comfortably. Looking back, I don’t know how I accumulated so much wealth even though I always earned more than the median income but it helped to be in cash before the 2008 crash. I also traded my way to increase my assets.
 
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Online Persona

Well-Known Member
Feb 2, 2022
1,882
3,869
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Your solutions?
1) Vote republican
2) remove top 2 levels of management in every government agency
3) undo liberal policies
4) turn off the fiscal stimulus hose
5) ease (not get rid of entirely) restrictive government regulations in many industries
6) Drill

And for @rutgersdave what was wrong with doing 20% savings rate in 1985? You say that isn't realistic. I did nearly twice that rate when I first left college for awhile. Now we have been comfortably retired since my early 40s. My wife and I both made decent but not executive level income. We just lived well below our means and continue to do so.

I will say it absolutely sucks seeing a significant reduction in our net worth due to the current clown show. First year in our adult lives where we actually went backwards. That's nothing compared to the tens of millions of Americans being driven into poverty this year alone. That's what Democrats voted for though. Democrat voters traded prosperity for recession and record inflation because of mean tweets and oversensitive feelings.
 

rutgersdave

Well-Known Member
Jan 23, 2004
761
399
1
1) Vote republican
2) remove top 2 levels of management in every government agency
3) undo liberal policies
4) turn off the fiscal stimulus hose
5) ease (not get rid of entirely) restrictive government regulations in many industries
6) Drill

And for @rutgersdave what was wrong with doing 20% savings rate in 1985? You say that isn't realistic. I did nearly twice that rate when I first left college for awhile. Now we have been comfortably retired since my early 40s. My wife and I both made decent but not executive level income. We just lived well below our means and continue to do so.

I will say it absolutely sucks seeing a significant reduction in our net worth due to the current clown show. First year in our adult lives where we actually went backwards. That's nothing compared to the tens of millions of Americans being driven into poverty this year alone. That's what Democrats voted for though. Democrat voters traded prosperity for recession and record inflation because of mean tweets and oversensitive feelings.
If they were saving 20% they wouldn’t be in poverty. Do you currently only make 60k a year? Not everyone can save 40% a year like you did in 1985 and live with their parent. I guess I made a lot of money because I only saved 8% in my 401k most of my career. you must not have been an adult in 2008 when the market went down 50% under President BUSH, REPUBLICAN. Did you cry when you lost 50% of your assets? Or when the market went down 30% in 2001 under the other President BUSH, REPUBLICAN.

People that don’t make a decent wage now, over 70k, can not save enough due to the cost of living, to retire when they get older and It just didn’t happen the last 2 years. I guess you can make less if you live in a lower cost of living state where rent is under $1k or houses cost less $150k. I would suggest people learn how to increase their income if they want to retire but there will always be plenty of people making 50-70k that can never retire.
 
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PSUEngineer89

Well-Known Member
Aug 14, 2021
6,944
11,976
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"Why don't these people just work for the government and get a nice cushy pension with COLA and never have to worry about getting fired"
 

royboy

Well-Known Member
Nov 9, 2001
47,062
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Lewisville, NC
FfSaB8fXgAo-SGx
 

Online Persona

Well-Known Member
Feb 2, 2022
1,882
3,869
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If they were saving 20% they wouldn’t be in poverty. Do you currently only make 60k a year? Not everyone can save 40% a year like you did in 1985 and live with their parent. I guess I made a lot of money because I only saved 8% in my 401k most of my career. you must not have been an adult in 2008 when the market went down 50% under President BUSH, REPUBLICAN. Did you cry when you lost 50% of your assets? Or when the market went down 30% in 2001 under the other President BUSH, REPUBLICAN.

People that don’t make a decent wage now, over 70k, can not save enough due to the cost of living, to retire when they get older and It just didn’t happen the last 2 years. I guess you can make less if you live in a lower cost of living state where rent is under $1k or houses cost less $150k. I would suggest people learn how to increase their income if they want to retire but there will always be plenty of people making 50-70k that can never retire.
I am retired and have been for several years but I'm under 50. Unless you want to count self-managing properties as a job, I don't have one. And in 1985 I was playing sports and my job was a paper route. I lived with my parents because I was a kid.

When I did graduate from college, I put away about 40% of my income and was living on my own in a different state. I didn't come from money so I bought a few books on investing. Met my wife after that but she had a similar financial approach. We didn't maintain 40% savings for our whole lives but we did early and had a great start. Incomes rose steadily through even the not so great years in the market and net worth kept moving forward.

We worked hard, I went back to grad school while working, we sacrificed, and lived within our means. It's about choices. When I was right out of college making money for the first time, my buddies were buying new SUVs and muscle cars. I've driven my vehicles all well over 200k miles and continue to today. My wife isn't a shopper and didn't go nuts on clothes. She actually got a fair amount of expensive hand me downs from her girlfriend who didn't stay the same size whereas my wife still weighs the same today as in high school. We didn't buy extravagant things or have expensive hobbies. We have taken some nice vacations and the whole family enjoyed the boat I had for a number of years after we were already well established.

It can be done if people make good choices especially when they are young. I bought a starter home early on in a nice area. I rented it out after moving and bought another. I did that several times and have a pretty nice additional income stream and all of the properties have appreciated quite nicely. But I've personally cleaned them when tenants left and did many of my own repairs and upkeep. It's not free money but a couple of the properties will be paid off completely soon and then that income stream gets really nice.

We simply made different choices than many of our friends and family aling the way. So today, we get to make different choices as well. Like do we want to go kayaking on a weekday or I'd like to open UTMA accounts for the teenage kids including nephews and our niece so that they can learn to invest and understand what a small contribution each month can become.
 
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rutgersdave

Well-Known Member
Jan 23, 2004
761
399
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I am retired and have been for several years but I'm under 50. Unless you want to count self-managing properties as a job, I don't have one. And in 1985 I was playing sports and my job was a paper route. I lived with my parents because I was a kid.

When I did graduate from college, I put away about 40% of my income and was living on my own in a different state. I didn't come from money so I bought a few books on investing. Met my wife after that but she had a similar financial approach. We didn't maintain 40% savings for our whole lives but we did early and had a great start. Incomes rose steadily through even the not so great years in the market and net worth kept moving forward.

We worked hard, I went back to grad school while working, we sacrificed, and lived within our means. It's about choices. When I was right out of college making money for the first time, my buddies were buying new SUVs and muscle cars. I've driven my vehicles all well over 200k miles and continue to today. My wife isn't a shopper and didn't go nuts on clothes. She actually got a fair amount of expensive hand me downs from her girlfriend who didn't stay the same size whereas my wife still weighs the same today as in high school. We didn't buy extravagant things or have expensive hobbies. We have taken some nice vacations and the while family enjoyed the boat I had for a number of years after we were already well established.

It can be done if people make good choices especially when they are young. I bought a starter home early on in a nice area. I rented it out after moving and bought another. I did that several times and have a pretty nice addition income stream and all of the properties have appreciated quite nicely. But I've personally cleaned them when tenants left and did many of my own repairs and upkeep. It's not free money but a couple of the properties will be paid off completely soon and then that income stream gets really nice.

We simply made different choices than many of our friends and family aling the way. So today, we get to make different choices as well. Like do we want to go kayaking on a weekday or I'd like to open UTMA accounts for the teenage kids including nephews and our niece so that they can learn to invest and what a small contribution each month can become.
I retired early at 53 and would be considered a success story. It isn’t just about cutting expenses, it’s about increasing your income. I noticed that my brother, who did very well in his company, stock kept going up tremendously almost like AAPL while I worked at Westinghouse and later CBS part of Westinghouse and the stock did nothing for about 20 years. I noticed that the WX stock kept going up $1 and down a $1 but seldom going up continuously. I brought and sold the stock in the 401k acct for a while and later noticed the account growing. I realized that $1 over the price of the stock $20 was 5% and if I traded right 8 times a year got a 40% return a year. Did it a few years and got a head start over everybody. I didn’t cut expenses but I created a new income stream. I use to say the streets are paved in gold but only a few can see it and take advantage of it. Another saying, “I let the money make the money.” I don’t care who‘s in office, Democrat or Republican, I’m going to make my money. I don’t care about the tax rate because I’m going to make my money.
 
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Catch50

Well-Known Member
Feb 5, 2003
36,863
2,408
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1) Vote republican
2) remove top 2 levels of management in every government agency
3) undo liberal policies
4) turn off the fiscal stimulus hose
5) ease (not get rid of entirely) restrictive government regulations in many industries
6) Drill

And for @rutgersdave what was wrong with doing 20% savings rate in 1985? You say that isn't realistic. I did nearly twice that rate when I first left college for awhile. Now we have been comfortably retired since my early 40s. My wife and I both made decent but not executive level income. We just lived well below our means and continue to do so.

I will say it absolutely sucks seeing a significant reduction in our net worth due to the current clown show. First year in our adult lives where we actually went backwards. That's nothing compared to the tens of millions of Americans being driven into poverty this year alone. That's what Democrats voted for though. Democrat voters traded prosperity for recession and record inflation because of mean tweets and oversensitive feelings.
Really nothing there to promote economic growth and jobs. Even drill. Not many jobs there and the oil that is there is getting more expensive by the day. You clowns don't care about the unemployment rate unless you have power.
 

Online Persona

Well-Known Member
Feb 2, 2022
1,882
3,869
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Really nothing there to promote economic growth and jobs. Even drill. Not many jobs there and the oil that is there is getting more expensive by the day. You clowns don't care about the unemployment rate unless you have power.
1) Perhaps I should have said the list was not exhaustive.
2) Unemployment is not and has not been a real concern since the Obama years. The wage growth to inflation is a real problem though and that inflection point occurred well after Trump left office when wages had strong growth relative to inflation. Democrats have really hurt the American people who do want to work and those that did and retired.
 
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