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Richard Erlacher
08/17/12 13:37
Modified:
  08/17/12 13:40

Read: 467 times
Denver, Co
USA


 
#188092 - Here in the U.S.
Responding to: Bert Van Den Berg's previous message
My parents brought me here to the U.S. in 1952, at which time jobs were easy to find if you had skills and were easy to keep if you had a work ethic. Pay wasn't great, but it was "good." The unions were growing and powerful, so being in one helped a good bit. By the time my parents retired, things had changed considerably. When my father retired, he conceded that his peers with whom he'd maintained contact over the decades were all, without exception positioned better than he was in terms of retirement.

My Mother had worked 9 years in Germany and 36 years in the U.S. when she retired, yet she received more in social security from Germany than what she received from the U.S. for her 36 years' employment. She also received a pension from the State job she held for about 12 years, and that exceeded her social security as well, further, it covered her health insurance toward which she continued to have to pay copayments and medicinals, but which was covered for 80% of her premiums.

It surprised me to learn that that's how her retirement was covered, though I know she had made ample provision on the investment market for her "declining years," though her decline was actually limited to about four weeks, prior to which she was independent and in good health. The markets reduced her portfolio by 86%, owning largely to her overinvestment in insurance based items, which, for the last year or two, had substantial negative yields and, before I learned of them and took her out of those deathtraps, cost more per month than they ever would have yielded.

I find it crazy that one of the pairs running for President here wants to privatize social security, turning the nation's retirement over the "totally corrupt" Wall Street guys, as some have described 'em, since that and the classic insurance industry have proven to be such poor havens for one's "nest egg."

One fellow, possibly the most financially wise, and therefore successful guys I know told me that "the surest way to ensure that you get the best treatement from your investments is to select them yourself ... but read the fine print."

The U.S. offers great opportunity to become successful if you're well-trained, diligent, conscientious, and do your homework. Failing in that, you "get what you deserve." Everybody wants to become a billionaire, but very, Very few succeed at it.

RE






List of 30 messages in thread
TopicAuthorDate
Salary System      Arif Deshmukh      08/10/12 23:08      
   "System"?      Andy Neil      08/11/12 08:04      
      Govt. System      Arif Deshmukh      08/12/12 00:00      
         Perhaps it's just another "bump in the road" for India      Richard Erlacher      08/12/12 07:54      
            Here is another bump      Arif Deshmukh      08/13/12 04:19      
         In The U.S.      Neil Kurzman      08/14/12 18:25      
   yeah well.      Jez Smith      08/14/12 02:18      
      Oh! Means I Am Lucky      Arif Deshmukh      08/14/12 04:37      
         Also        Jez Smith      08/14/12 10:10      
            We don't do it willingly ...       Richard Erlacher      08/14/12 11:26      
               Very Strict In India      Arif Deshmukh      08/15/12 01:09      
            yep      Andy Peters      08/17/12 15:30      
      You Make it sound like a bad thing.      Neil Kurzman      08/14/12 18:32      
         Cube covering      Rob Klein      08/15/12 03:52      
            I don't remember even one "cubie" that wasn't padded      Richard Erlacher      08/15/12 18:07      
            No Padding      Neil Kurzman      08/16/12 13:40      
      Not if your company follows this advice      Andy Neil      08/23/12 12:28      
         male cow manure      Erik Malund      08/23/12 12:38      
            wow      Neil Kurzman      08/23/12 20:57      
   New Zealand working conditions      Bert Van Den Berg      08/17/12 12:40      
      Here in the U.S.      Richard Erlacher      08/17/12 13:37      
         No Pension      Arif Deshmukh      08/19/12 22:03      
            Well ... there are those who believe ...       Richard Erlacher      08/19/12 23:21      
               Biased sample selection.      Christoph Franck      08/20/12 05:06      
                  You've overlooked the inherent bias ...       Richard Erlacher      08/20/12 11:21      
                     Paying for professionals.      Christoph Franck      08/21/12 01:39      
                        That's very much the case       Richard Erlacher      08/21/12 09:16      
            Arif: Which govt are you referring to?      Kalpak Dabir      08/20/12 04:50      
               BMC      Arif Deshmukh      08/20/12 10:16      
                  What would trouble me ...       Richard Erlacher      08/20/12 11:35      

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