The next crisis no one is talking about.
Fuck rich baby boomers and their retirement. Hopefully they all starve. It was never on the table for millennials.
All the pensioners I know (UK) are doing fine, they own their homes, they get reasonable pensions, they get free healthcare, they are quite likely to live to their nineties.
They don't drive flashy cars or have tropical holidays, but they seem happy enough.
It is cheaper to go to Spain since you don't have to fly.
You do realise it's cheaper to fly almost anywhere further than 100 miles these days right?
Yes, comparing to the 80s. However, the ratio for ticket price vs income isn't cheap.
Never mind. I understand what you are saying...train and bus sometimes cost more.
I don't know how much toll you have to pay on roads between England and Spain.
Driving UK to Spain would cost around £200 in petrol alone, you can get flights for £40.
Pres have you been outside of America? In fact have you been out of state?
Yeah, been out of state. Been out of America? I drove to Canada. Across the ocean? Hmmm, that was 37 years ago.
I know it is cheaper to fly to NYC from DC than to take a train or drive to NYC (sometimes).
DC to NYC:
Cheaper by bus but you won't have your own car. I don't trust bus driver and the people on the bus may not be the caliber of people you want to hang out with.
Flying maybe cheaper if you find discount. However, getting in and out of the airport going through security is a hassle. Parking your car and leave at airport isn't cheap. Taking a taxi isn't cheap.
Train: forget it...it is cheaper to fly.
A lot of UK penaioners spend the winter in Spain, they save on heating bills, are healthier and the food, alcohol and tobacco is cheaper.
Hmm. Maybe. Many companies are offloading their pensions to insurance companies, since the traditional (defined benefit) plan is basically an annuity. DB plans that pay for healthcare have almost all dropped healthcare plans.
One problem with offloading the risk is that the insurance plans are not backstopped by PBGC. Also, public plans are not backstopped by PBGC nor are they subject to renegotiation in Chapter 9 proceedings.
Very few private employers have any sort of defined benefit plan. Almost all of them have frozen their plans. The ones that haven't are pretty much only union plans.
This article is a really shitty one that blurs the lines between public and private plans. It also ignores 401k/403b/457 plans (which are legally "pensions" even though John Q Public doesn't think they are).
Public pensions are indeed a crisis. They're complicated enough that no one understands them. It is sad that back in the 80s, most employees had some sort of pension and today, almost none do. The shitty pensions that government workers got in the 80s are worse than what non-governmental employees got in the 80s but are much better than what non-governmental employees get today. And government workers in the 80s got paid much less than non-government employees did in the 80s, but today, they get reasonably comparable wages - that's how bad that non-governmental employees have lost ground with inflation, wage cuts and benefit cuts. The sort of healthcare plans that were standard back in the 80s are now called cadillac plans.
Pie is a lot better than ...
March 16th, 2017 7:19pm
It is because this generations doesn't have enough children, Pie.
The previous generation produced enough to provide for their pensions.
March 16th, 2017 8:12pm