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035 too young to retire

Descriptions > White Backgrounds
Wisconsin was the first visible battle ground, but Indiana gave it a start and Illinois is swamped in the midst of a funding controversy of state supported pensions.  Government pensions do not follow the rules that industry have.  They just have the taxpayers to go to raise funds when they are short.  Social Security, the "pension fund" of the majority is being told to raise the retirement funding age.  Government pensions (and for that matter some private pensions) allow for retirement after thirty years of work and the age 55.  Now I have no problem with people changing careers at any age.  I have done this myself.  But I am not asking others to pay for this.  Also, the pot is drying up with the numbers retiring increasing while those contributing stagnating and decreasing, with interest investments being less than soft, the difference needs to be made up.  For every dollar I have to pay into this, it is one less dollar going to increasing my business or savings for my future.  Realize this.  Pensions were created to hedge a bet to pay employees more while the employers did not have all of the money.  The goal was to put in an amount of money to a fund, earn interest, then pay it later.  Along the way a few things happened.  Interest slowed down, businesses started slowing, employee ranks went down, and the government allowed a thing called lump sum payouts.  This required employers to have to put more money into the funds.  Eventually the government bowed to pressure and created the 401 K program.  This allowed employers to take the money that they were going to put into pension funds, put it into an account that the employee controlled, then walk away from the results.  Employees could put money in also.  Eventually it became a system where employees put money in and employers did not.  I called it a scam when they started.  No wonder government employees did not fall for this or Social Security!

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