This article completely ignores the risk of confiscation of retirement vehicles. Nobody ever seems inclined to discuss risk or your lack of control of your own assets.
This article also says that a 4% growth rate is a modest growth rate.
That is dumb as a box of rocks. Proof? Check the top item on the Charts page, then look at some of the other charts. Growth has been an illusion since 1984 and it is worse on a per capita basis.
That is not to say that the investment landscape can not be gamed. There are a lot of in-tune players that are maneuvering to do just that. Time will tell whether they are right, wrong or otherwise mistaken. But, they are professionals and there are counter-party risks that most of us can not see. What is or was reliable, just ain’t thataway, no more.
This article also ignores the fact that “the good old days” are winding down. It don’t get no better than what we have, right now. There will be no return to the glory days of plenty, and easy living. If you are not now prepared for this new age, you are likely out of time. The assaults are on every aspect of life.
Anyone counting on a public pension is likely feeling quite smug. Do not envy them because many if not most public pensions are under-funded, not to mention overstating their value and ignoring their liabilities. The parasites are fat, but the host is dead. Few know of this little fact and even fewer acknowledge it.
And, do not bother contacting your so-called representative. You have no voice, no power and no property rights. You don’t even own your own person.
This article also mentions firefighters, only.
There was a comment elsewhere, suggesting that more than half the cops in this country would fail an assets vs. income test.
February 20, 2013
Who fares better in retirement, pensioners or folks who saved up their own respective nest eggs? If you look at the numbers, you might be surprised to learn who’s really “living large” after retirement.
Regardless of how you made your money, what determines if you’re rich when you retire? Frankly, it isn’t how much money you made, but how much you accumulated that counts. So who are the real rich people?.