Quote:
Originally Posted by dewilson58
Couple thoughts............most people don't work for large corporations. Also, it's kind of a net-zero game......additional benefits means less pay. Otherwise, profits are down or prices go up. Pensions are pretty much gone because it's almost impossible to promise to pay in the future.
I don't think it's a big corporation problem.
IMO
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Even defined benefit pensions. I had a friend who was a bit older than I was at the time I knew him. He was a member of the lithographers union and had devoted most of his working life to the company he worked for. Today, much of what they did is obsolete or done overseas. With less and less work and fewer and fewer members, he received a note that they regret they were cutting his pension by 30%.
What do you need to have? All you need to know is exactly how long you and your wife will live. What your healthcare costs will be, what the rate of inflation will be for the rest of your life, what the return on your investments will be and we can calculate exactly what you must have. Immediate trouble is we do not know any of the needed information. The stock market only goes up-EXCEPT WHEN IT DOESN'T. Our government tells us they want 2% inflation-WHY? The reason is truly simple-so that they can devalue the real value of the TWENTY TRILLION DOLLARS they are overdrawn, First of all IN HISTORY, they have never been able to control inflation that well.
At 2% inflation. long term in about 30 years you will need two dollars to buy what a dollar buys today,