High Five vs High Three

[James48843]

It's sad yet comical how strong the entitlement mentality is in some people.

Lest some of you forget, we have a trillion dollar deficit. We have a debt that is approaching our GDP. These things must be brought under control, or investors will lose confidence in the country's ability to repay its debt and will demand higher yields on US treasuries. That means soaring interest rates, costlier loans for cars and homes, and an explosion in the cost to service the debt.
....

Lest some of you forget, that if we simply let the Bush tax cuts expire, and stop spending on the two wars we are engaged in, we would have a balanced budget.

It's that easy. Let them expire, and bring our soldiers back within our borders.

 

[WorkFE]

It's sad yet comical how strong the entitlement mentality is in some people.

I'm sure I'm in the small minority saying these things as a federal employee.

I believe you disrespect alot of folks here on this MB and you read well but don't hear Jack. "(and unlike many in the private sector, we aren't being laid off)" Strap up brother I've been there. Took a minimum wage job +2 to get the bills paid and will do it again when the time comes.

"entitlement mentality" No I believe most just want the taxes, cuts, freezes and everything else to be well thought out and fair. Not targeted for political points.
Have a great day Mike

 

[Nate]

The only solution to this gigantic problem is to increase revenue (raise taxes) and cut costs (cap or cut benefits and spending in all federal programs / agencies)

Im no economist, but I can guarantee quite literally, this is not the only solution. Nowhere near all agencies & programs need to be cut, and im a conservative. Just trim the pork.

bring our soldiers back within our borders.

And speaking of borders......I didnt choose to fight in Iraq just to come home to a war on my own border. Millions of illegals taking jobs, driving wages down on those jobs in effect making them claimed to be jobs "most americans that dont want to do", then send the "untaxed" currency out of the country out of our economical circullation.... not to mention what its costing our medical and legal system. "Factories are overseas, production is going to be focused on expensive new "green" projects, high-speed trains & the like....global warming hoax, pork pork pork.
I say secure the borders, illegal is clearly in the dictionary, give them a time frame to apply for a visa, then deport. Bring the factories home, charge higher taxes for imported goods....make the correct tax incentives so that its cheaper to manufacture in the US once again.

 

[Steel_Magnolia]

Mike, the sky is not falling. Take a deep breath.

While I do appreciate your concern, there are ways to address this problem. James just expressed some IMHO excellent options. There are others too. They can even take my home mortgage interest exemption. But when they start playing with the retirement fund they are changing the rules of the game. It's very tricky to try to plan a retirement with financial security when they tell you you're playing chess but they promised you going in that it was checkers.

I'm already retired so I don't have a dog in the hunt. But fair is fair. And for the record, widened eyes doesn't equate to entitlement mentality.

But you're okay in our book anyway, dude. Thanks for popping in on us. We need you to stick around more often.

Maggie

 

[WorkFE]

It's very tricky to try to plan a retirement with financial security when they tell you you're playing chess but they promised you going in that it was checkers.

Some folks have more reaction time to adjust plans than others. Landing on your head is not a bad thing, you get used to it:laugh:

 

[Steel_Magnolia]

Some folks have more reaction time to adjust plans than others. Landing on your head is not a bad thing, you get used to it:laugh:

Yeah, that's true. :cheesy: But I just hope that they give people time to get a helmet on before they dump them on their heads.

 

[Aviator_Guy]

There is a good article outlining what the impact would be on retiring with a "high five" calculation vs. a "high three" as is present:

I would point out- that in 1984, when we had the last big changes to prop up the buget, they changed from CSRS to FERS, and upped the retirement age for social security by two years. (from age 65 to age 67), and went from a retirement based on the "high one" to a "high three".

Here we are 25 years later, and we're about to do it all over again . Worse retirement pay, a decade of flat stocks, and we're about to enter a time of deflation.

10 more years to go. Ugh.

I just hope they don’t tamper with the (22.5K) max employee contributions per year for those over age 50. I’m 53 and according to my FERS calculations, my FERS annuity and SSA retirement annuity are almost irrelevant if I can continue to work until the SSA retirement age 67. My TSP savings are quickly moving to the top of my income streams when I retire. My realistic goal is 1 to 2.5 M from age 56-67.

 

[alevin]

Congrats. I'm same age and hoping and praying to achieve 30-50% of your estimate by age 65-66.5. My retirement life will be pretty basic to extremely basic if any of the 3 legs are missing.

 

[Steadygain]

Congrats. I'm same age and hoping and praying to achieve 30-50% of your estimate by age 65-66.5. My retirement life will be pretty basic to extremely basic if any of the 3 legs are missing.

Alevie, my darling little sister and good friend !!

You will be good -- so long as there are not Global and widespread sweeping changes that defy everything we'd ever known so far.

Those changes are NOT likely to happen during 'our remaining years' - but they are simply beginning to take place.

Your house is paid in full -- and that is usually the biggest expense. If anyone knows how to live simply and humbly - YET Happily and be content -- it is you.

All the widespread FEARS have been shouted over and over in the generations before us -- and in the bigger picture -- we are good !!

 

[alevin]

Thank you Steady, my good friend. You're always good for a morale boost on this subject.

 

[Steadygain]

Thank you Steady, my good friend. You're always good for a morale boost on this subject.

It's from the heart and I just try to KEEP IT REAL !!

Millionaires are all over the place Alevie --- I mean really and for some very crazzzzy reason -- we come to think we'll need a few M to get by.

We NEVER -- NEED (and here the stress is Need) that much -- Never.


Look at Birch -- he's got Ms (plural) - yet he's checking his wifes' tires and making sure he gets his money's worth -- and doing everything possible to maintain and enjoy what he's always known.

There is no way in hell - his daughter is going to let him give her a bunch of money --- so he's saving it up for grandchildren that are YET to come.


If you force yourself to drive $60,000 (+) cars, and stay at 5 Star exclusive places every where you go --- and spend thousands every week on body wraps and massage and pedicures and all....

...have regular outings with the Country Club Ladies and go to the Dining Places that cater to those types ....

then you would 'cease to be my sister' and I wouldn't know you.


Enjoy the LIFE you have and be grateful you are REAL and that the River has its place and spending time with a Vietnam Vet and helping a neighbor is more rewarding than being 'plastic' and empty.

You're wonderful the way you are -- having too much money can mess people up -- so be careful what ya wish for.

Always there for ya !

Steady

 

[alevin]

Steady, dear friend, the lifestyle I live now, is based on my net takehome after all the paycheck subtractions. If I am to maintain the middle middle class lifestyle I have now, I will have to do substantially better in tsp between now and 66-if I had to live on tsp alone in my retirement years even with the projected optimistic balance, I'll be living a pretty pinched lifestyle comparatively speaking, not much better than if living on unreduced SS alone. I will need a minimum of 2 legs of my little stool, but it'd be a balancing act even then.

 

[Steadygain]

I understand that -- totally -- and thanks for allowing this open discussion.


You know there is something far above all of this and 'The Balancing Act' is (and always has been) a driving force to make 'us' what we are.


For NOW -- let's deal with today -- and live one day at a time.


Tomorrow we can drive down to FL and slice some of Birch's tomatos and have a BLT

 

[alevin]

I understand that -- totally -- and thanks for allowing this open discussion.


You know there is something far above all of this and 'The Balancing Act' is (and always has been) a driving force to make 'us' what we are.


For NOW -- let's deal with today -- and live one day at a time.


Tomorrow we can drive down to FL and slice some of Birch's tomatos and have a BLT

Yep, blue skies over me, nothing but blue skies do I see. Let's go see Birch, I hear he grows better tomatos than I do this time of year (bet they aren't heirlooms tho):toung:

 

[WorkFE]

http://www.myfoxorlando.com/dpps/ne...-she-now-owns-sun-dpgonc-20101126-gc_10808147

You may want to wish for some clouds. The sun is going to get expensive.

 

[James48843]

http://www.myfoxorlando.com/dpps/ne...-she-now-owns-sun-dpgonc-20101126-gc_10808147

You may want to wish for some clouds. The sun is going to get expensive.

She's too late.

Icarus already filed for it long, long ago.

 

[WorkFE]

No matter I am not paying either one of them $H!T.
In fact I'm thinking about filing a law suit for burning my Lawn.:laugh:

 

[SkyPilot]

It's sad yet comical how strong the entitlement mentality is in some people.

Lest some of you forget, we have a trillion dollar deficit. We have a debt that is approaching our GDP. These things must be brought under control, or investors will lose confidence in the country's ability to repay its debt and will demand higher yields on US treasuries. That means soaring interest rates, costlier loans for cars and homes, and an explosion in the cost to service the debt.

The only solution to this gigantic problem is to increase revenue (raise taxes) and cut costs (cap or cut benefits and spending in all federal programs / agencies). As a country, we've lived high on the hog for too long, and it's now time for all of us to make sacrifices to correct this long-running problem of overspending.

I'm sick and tired of people claiming to care about restoring fiscal sanity yet when it comes time to make the hard decisions, they scream bloody murder if *their* taxes are raised or if *their* benefits/programs are cut. Do you really want to cling to your cushy benefits and pay at the expense of the country? Are you really that selfish and short-sighted?

In WWII, many gave their lives for the greater good. Now, all we are being asked to do is make a bit of a financial sacrifice (and unlike many in the private sector, we aren't being laid off). The fact that so many are so vocal in opposition to this and are unwilling to do their part is flat-out sickening.

I welcome the pay freeze and the caps on benefits. These things are long overdue. I'm sure I'm in the small minority saying these things as a federal employee.

These are not "entitlements", but rather Earned Benefits. Our benefits are not "welfare" doled to us, but rather compensation remunerated per agreements.

So many confuse the issues in this regard.

 

[Viva_La_Migra]

She's too late.

Icarus already filed for it long, long ago.

Great Iron Maiden song.

 

[Birchtree]

Are you sure that wasn't Iron Butterfly?