Must be nice to retire @

[H_O]

48 --with a full pension.
Talking to this guy Frank at work, he started working for The TTC at 18 in the maintnance department, then went to driving the bus at 21,,
got his full pension after 30 years of serivice. From there he went to the City of Toronto where he been for the past 6yrs.
in the summer he takes off on his Harley an cruises the country..lucky bastard...

[sagal]

Re: Must be nice to retire @

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: H_O</div><div class="ubbcode-body">48 --with a full pension.
Talking to this guy Frank at work, he started working for The TTC at 18 in the maintnance department, then went to driving the bus at 21,,
got his full pension after 30 years of serivice. From there he went to the City of Toronto where he been for the past 6yrs.
in the summer he takes off on his Harley an cruises the country..lucky bastard...
</div></div>

Good for him...but I thought you had to be at least 55 to retire with full pension....I&quot;m happy for him...I wonder how well his friends have done who went onto post secondary...makes you wonder eh???

[Cultcha]

Re: Must be nice to retire @

My town is full of guys who are under 50 and retired from GM.

Many work part time or at jobs where they get paid under the table.

I am envious in a way but I actually am lucky enough to enjoy my work so I don't dwell on it.

[Cultcha]

Re: Must be nice to retire @

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: sagal</div><div class="ubbcode-body">Good for him...but I thought you had to be at least 55 to retire with full pension....I&quot;m happy for him...I wonder how well his friends have done who went onto post secondary...makes you wonder eh??? </div></div>

Company pension..... 30 years and out, if you are lucky enough to work for a place that offers it.

Yes, makes you wonder indeed! I went to college and now see myself retiring at 65 or maybe even 70.

[Emperah]

Re: Must be nice to retire @

I guy at GM retired with full pension at 48 cause he started at 18 too.

[johnnycakes]

Re: Must be nice to retire @

I got fired from my last job which I didn't like anyway and since we are in a L..O...O...O...N....G recession, good jobs , any jobs are scarce and I'm 67 I am not looking for work at all.
If something good and part time comes up I'll take it but I'm retired and it feels good not to have to get up at the crack of dawn every working day and take the crap some of us have to at work.
I am lucky in that between social security, a good size pension from working 21 years at Tufts University and having invested in the property in Jamaica some 20 years ago, I will be okay financially.

But ... all around me I see people sweating out either keeping a job, making ends meet or in deep financial distress.

A word of advice: This will be the best advice you will ever get.
Do these two things and you will be able to retire and not worry about the finances:

1) buy a house as soon as you can -don't pee away your money on partying or drugs or just having a good time while you're young. Get that down payment saved and do it.

2) start a pension plan as soon as you can and make sure it is put into something you cannot touch or easily get to because if it is easy to withdraw YOU WILL.
Even if it is just $10.00 a week and you put that away faithfully, you will be amazed at how fast that money grows with compound interest after just a few years.

Remember that you cannot live on Social Security payments alone and that when you hit your 60s you may not be healthy enough to work at what you do now or work at all.

And yes it's tough to save anything when you're just scraping by and you may have to give up a nice vacation trip or two or that new Mercedes but when you do finally retire you'll be very glad you did.

[H_O]

Re: Must be nice to retire @

thanks Johnny, you even more scared the [censored] out of me.
I bought my first house at 23.
I sold, and then bough another house.
I figure this one will be paid by the time I'm 62.
but the scary thing is, it used to be you worked somewhere for a pension. Now the corporate world doesnt do this, and has left it up to the individual to invest, where people these days barely make enough to make ends meet alot of people dont have the extra cash to throw a few hundred dollars a month into a savings for that purpose. Im scared when i reach retirement age and Im 41 now

[johnnycakes]

Re: Must be nice to retire @

H_O,

Think about it. I came through the past 45 years or so when things were not as bad as they are today and not as bad as it looks like things will get and with the fairly good pension I got from long term employment at an enlightened place of work (university), I'm really just barely making it.

Those, like you who work in the private sector have been losing ground since the Reagan years: lower pay, fewer benefits, job insecurity and instead of a booming economy, an economy in deep and probably prolonged recession.

As you said , most people just don't have the extra money to throw into a 401k or other pension because of the transfer of wealth from the poor and working classes to the rich as that translates through lower pay, fewer benefits, higher prices for necessities (gasoline and heating oil for example).
As a result the X generation or whatever they call the next group after us boomers is going to be in really rough financial shape when they hit retirement.

With any luck, I'll be dead by the time the excrement hits the fan.

And if you think it's rough now IMO, it's going to be real ugly in the U.S.A within 15-20 years as we descend from being a First World nation to a state where the Great Depression of the 30s will be looked back upon as being the &quot;good old days&quot;.

At which time we will eat the rich.

(At present, the wealthiest 400 families have more wealth than the bottom 40% [around 120 million people] of the population and the disparity is growing, not shrinking).

[jah_yout]

Re: Must be nice to retire @

scary stuff;

i think what will come out of this is that the way of life we modernites are accustomed to will have to change and is already changing...

we will have to re-consider our rugged individualism &amp; become more collectivist...

nowadays i think more people get into relationships/ marriages due to financial reasons as much as love &amp; companionship...
rent &amp; mortgage costs too much for one person...
more kids will be living at home longer &amp; more old folks will live with children rather than at old-age homes...
more people will have to start growing food instead of buying every single thing...
a lot of adaptation

[johnnycakes]

Re: Must be nice to retire @

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: jah_yout</div><div class="ubbcode-body">scary stuff;

i think what will come out of this is that the way of life we modernites are accustomed to will have to change and is already changing...

we will have to re-consider our rugged individualism &amp; become more collectivist...

nowadays i think more people get into relationships/ marriages due to financial reasons as much as love &amp; companionship...
rent &amp; mortgage costs too much for one person...

more kids will be living at home longer &amp; more old folks will live with children rather than at old-age homes...
more people will have to start growing food instead of buying every single thing.a lot of adaptation </div></div>

jah_yout,
..
I would agree with what you posted and also note that those are just the ways that some will utilize to survive and cope.

Many of those that cannot or will not choose to do things things will, in increasing numbers, turn into bitter and brutal human beings and the society will become further degraded , immoral.

IMO and I realize that there are a great many who disagree with me, the cause is the economic system in its entirety.

As said you cannot have 5% of the population controlling 90% of the wealth. That simply does not leave enough for the other 90% (us).

That is what capitalism has become. It no longer works but most people still foolishly cling to that shred of hope that it can be fixed and have been schooled to think by those who want to keep things the way they are that there is no working alternative when there clearly is.

But I'm wasting my breath here.

[Dr.Dudd]

Re: Must be nice to retire @

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: jah_yout</div><div class="ubbcode-body">scary stuff;

i think what will come out of this is that the way of life we modernites are accustomed to will have to change and is already changing...

we will have to re-consider our rugged individualism &amp; become more collectivist...

nowadays i think more people get into relationships/ marriages due to financial reasons as much as love &amp; companionship...
rent &amp; mortgage costs too much for one person...
more kids will be living at home longer &amp; more old folks will live with children rather than at old-age homes...
more people will have to start growing food instead of buying every single thing...
a lot of adaptation </div></div>
Or the youth of the day grow some spine unlike their counterparts of the generation since the Reagan years who swallow the hogfood about the danger of unionization .

And now still doing so while blaming everybody else for their predictament.

[Peasie]

Re: Must be nice to retire @

Doc, are you a union man?

[Magician]

Re: Must be nice to retire @

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Peasie</div><div class="ubbcode-body">Doc, are you a union man? </div></div>

What turn you on more, union man or mathematician?

[Dr.Dudd]

Re: Must be nice to retire @

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Peasie</div><div class="ubbcode-body">Doc, are you a union man? </div></div>
I am more of a &quot;human &quot; man.
I know the principles of economics.
I Aldo know the mechanics of sociology enough to realize that our standard of living was not increased by luck, accident or the good grace of government or commerce.

But was achieved on the backs of union members.

So goes the unions, so goes the standard of living of the world.

Germany has one of the most highly unionized populations in the world.
It is nit by accident That it has the most healthy economy and highest standards of living in the world.
Even after absorbing the population of east Germany in their most destitute they were in.
And even as They are bailing out the weaker coun tries of Europe.
I am a union man at heart.
because i know the Importance of their function in any economy.
Having a healthy worker representation in an economy is the difference between bring s third world And a developed economy.

Yes i know that there are so called economists who claim That unions distorts economies.
but those are the same types That couldn't predict the world economic collapse nor are able to utilize economic principles to accurately predict any normal economic trend.
They are from the school if thought who swear That economics is an Art.
a
What they practice is an art, And It certainly is not economics.
Very entertaining, but not economics.