Re: [TSP_Strategy] Not Exactly Getting Rich

 

Sarah,
Consider me a +1 on your comments. I'm not government but military retired. I plan as if they take my military retirement, disability, and SS goes T.U. If it's still there when I finally retire, then it's gravy...

Thanks for your thoughts. We should all be responsible to ourselves and not look to the government.

Cheers.
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On Fri, 5/8/15, sarah_oz@yahoo.com [TSP_Strategy] <TSP_Strategy@yahoogroups.com> wrote:

Subject: Re: [TSP_Strategy] Not Exactly Getting Rich
To: TSP_Strategy@yahoogroups.com
Date: Friday, May 8, 2015, 7:26 AM


 









Just a few comments I have on this
article:
1)
I believe that anyone who pays into the SS system should
reap the
benefits, not on a means tested basis, as the author
implies. I
personally oppose the program and think it should have been
privatized
long ago, or at least given those who wanted to take
personal
responsibility a choice to opt out. 
The program
came into existence because "privatization" meant
no pension, no benefits, and dire poverty for millions of
Americans...similar to what is reoccurring today, with the
elimination of pensions.

2)
I would assume Sally knew the terms of her employment when
she agreed
to take a govt job under the CSRS, and therefore would have
known the
details of her future retirement well ahead of time. In
addition, as a
result of not paying into SS, she could have taken an
equivalent amount
and invested it herself. I sure as hell wish I could do
that, instead of
paying into social security.  
In fact the WEP
provision was established in 1983, AFTER CSRS came into
existence. So, I would assume that it was created after her
employment began.

3)
I'd recommend anyone taking government employment to
never rely on the
"promised" pension. Plan for your retirement as if
a pension doesn't
exist, and as if SS benefits will not exist. Cut your
expenses, save
more, take on a couple side hustles for extra income, and
assume you'll
have to take complete personal responsibility for your
retirement in the
long run.  Relying on the government to do everything for
you is the
reason for the looming disaster in this country.

Unfortunately, at the present
time, too many families ARE working multiple jobs, just to
make ends meet for them TODAY, with little left to invest in
their TSP or their retirement.  Unfortunately, your current
situation is not the norm in this country today.

Just my
$.02 on this article. I can't seem to find a lot of pity
for Sally. 
I understand. You would feel pity
if you had experienced the same situation or
worse.












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Posted by: Kenneth Briggs <brigsy130@yahoo.com>

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