Reversal of Fortune: Inside Pensions and the Erosion of Retirement

How did the promise of a stable pension and a happy retirement, once the pillar of the American dream, become a threat to the solvency of state governments across the U.S.? Over the past decade, the funding-gap for public pensions has exploded to record levels. While blame is often placed on politicians short-changing contributions, hardline union leaders, and a host of other factors, one largely misunderstood and ignored component is the management of the pensions themselves. As many of their assets failed to deliver expected returns, pensions doubled-down on high-risk, high-fee investments, hoping to shore up more money. That shift in investments has eroded transparency, which has made it increasingly difficult to follow the money - not only putting at risk the retirement of millions of Americans, but the funding of state budgets and the health of the entire economy. Filmed in New York, Massachusetts, Arizona, Florida, Rhode Island and and other locations in 2019 and 2020.
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Reversal of Fortune: Inside Pensions and the Erosion of Retirement
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[@DavidStnl83]

Learn the lesson early; You are the only person on planet earth truly incentivized to look after your wellbeing.

[@ellengran6814]

There is a reason why we humans live in societies. When children are young it takes a society to feed them and educate them. When people get old, it takes a society to care for them. When people get sick they need care. When our society is attacked , we need defence. People who want to care for themselves should find a cabin in the forest. Had this happened in any other country on earth, there would have been a revolution. In US people are really brainwashed into the belief that humans can care for themselves (which they can - if they are adult, healthy, skilled, there is no war, no crime in society, no natural disaster etc).

[@mypointofview1111]

In which case its vital to get a financial education early in life so you can take real charge of your life

[@codester1111]

Everyone needs to be on edge in their youth, develop your skills, invest conservatively, and assume the worst will happen at any moment. It's immoral to make the responsible liable for the irresponsible by stealing their wealth. You reap what you sow, we live in a world of consequences..no matter how much the bleeding heart marxist profligates think the can change this fundamental tennet of life on this planet.

[@jon7222]

Watching multiple of these documentaries leaves one with the feeling that the entire financial services industry is nothing more than a parasite designed to syphon money away from people doing actual productive work.

[@tchen61]

Wait for the other shoe to drop, the social security

[@stevelawson68]

Unfortunately for the people that have made these decisions it's not going to end well. I believe eventually they will pay the highest price a human being can.

[@oyedejiidowu3118]

Did you just know that? I have never believed ALL of them (including the IRS) for one day. Any organization that gives you pages upon pages, and pages and pages of documents is a SCAM. A truly transparent transaction should be simple and understandable even to the least educated person. But not in America! Everything from Health Insurance, Tax Returns, Home Purchase documents, Student Loans..in fact pretty much everything is super COMPLICATED and CONFUSING! That's where the stealing occurs.

[@MrGrenade121]

Well it is

[@michaelepp6212]

I think you have provided an accurate summary.

[@Ddkrew1]

Tell congress to make it a law that pension managers are legal fiduciaries and see what changes.

[@vvwvvwvv]

It’s crazy that they are going to wait until everything blows up before they do anything.

[@Nickle314]

Tell congress they are on the hook personally for social security deficits. Oh, silly me, they are allowed to commit fraud

[@billytheweasel]

congress will do what pension managers tell them to do. rigged.

[@ccalcote9125]

@@vvwvvwvv I Agree! It's the American way!

[@janedoe5048]

You are asking the fox to come up with ways to protect the hens.

[@nadermazari3334]

Just save cash, live comfortably but very frugally. If possible, pay your house off as quickly as you can. Above all, avoid the trap of consumerism.

[@DominicLavoie]

Yes, private equity and hedge fund fees are outrageous. But this video does not say a word about the reason why pension funds are forced to invest in these alternatives : low bond yields. Interest rate are maintained artificially low by the Fed and pension funds are paying the price.

[@patriciaturner9564]

Hello 👋

[@sonjamarx385]

Exactly.

[@michaelsmith5463]

Also, in some state/cities, the workers gave up wage increases for less pension contribution increases by the worker. However, those states/cities mismanaged the pension money. That's right, some states/cities manage their own funds. It's a modern feature to have independent fiduciaries, but even so, the boards are wine & dined and not knowledgeable.

[@harnessworx3046]

I think the biggest issue is that there are too many “managers” taking fees out so instead of the promised investor as it were getting the largest piece of the pie at the end, you have everybody BUT the promised investor getting a small piece of the while pie. If lucky, the promised investor gets some crumbs.

[@darthvader5300]

@@harnessworx3046 By looking at the chronological patterns of the events on WHEN this retirement crises has started and combining the data with birth rates and the demographic patterns of the entire American population on a year by year basis starting from 1950 to 2021. What we see is the CONFIRMATION of Harry Dent's aging demographic induced-economic decline when the ratio of workers which started at 5 workers per pensioner in 1950 is now at a ratio of 1 worker per pensioner. That ratio is further aggravated by a series of economic crises and government fiscal irresponsibility and by economic industrial policies like planned obsolescence when we should be researching-developing-building-making-manufacturing consumer and industrial consumable and durable products that will last and function as long as it exists so as not to bite into the pensions of pensioners and retirees. And that is what I call as "planned permanence" for all manufactured products and construction products and building products. The same thing also applies in life-supporting infrastructures and economic industrial-supporting technostructures. This is just one of the many factors that must be included into the situation of the retirement crises. Japan is already there, South Korea is just entering it, Germany is half-way into it already BUT THESE KIND OF NEWS IS NOT HITTING THE FRONT PAGE HEADLINES! In the 1960s and 1950s there are no 401 Ks and IRAs and ROTH IRAs, just Social Security pension plans where all social security taxes and all retirement money goes into. Just one plan. And all of that social security tax money and retirement money goes into (1) Life-Supporting Infrastructures Public Utilities and (2) Economic Industrial National Security Self-Sufficiency Infrastructure. All are government owned and government regulated and government controlled. This ORIGINAL social security financial management-INVESTMENT set up was created by the FDR NEW DEALERS of the 1930s and 1940s but was corrupted gradually in the 1960s and is literally destroyed by a group of young LIBERALS, Bill Clinton among them. In the 1970s , a wave of young liberals. Bill Clinton among them, destroyed the populist Democratic Party they had inherited from the New Dealers of the 1930s. The contours of this ideological fight were complex, but the gist was: Before the 70s, the Democrats were suspicious of big business. They used anti-monopoly policies to fight oligarchy and financial manipulation. Creating competition in open markets, breaking up concentrations of private power, and protecting labor and farmer rights were understood as the essence of ensuring that our commercial society was democratic and protected from big money. Here is a draft of how it once looked like and it was once managed-invested. The 1950s and 1960s are the golden years of REAL RETIREMENT SECURITY for you were young and fresh and dynamic because your American demographics at that time is YOUTHFUL! "YOUTHFUL!" The (1) are for heavily regulated and policed and and will not be privatized as mandated by government by laws: (1) water utilities (2) sewage utilities (3) power utilities (4) communication utilities (5) public transportation utilities (6) public train utilities (7) public aircraft utilities (8) critical toll roads (for expansion and preventive maintenance and preventive repairs) (9) critical active bridges (for expansion and preventive maintenance and preventive repairs) (10) basic education schools The (2) are for heavily regulated and policed and will not be privatized as mandated by government by laws: (1) basic iron and steel industry (2) basic machine tool industry (3) basic heavy engineering industry (4) basic machine building industry (5) basic cement industry (6) basic sand and gravel industry (7) basic dimension stone quarry industry (8) basic oil and gas and coal and petrochemical and synthetics industry (9) basic electrical and electronics industry (10) basic medical hospitals and clinics ALL OF THEM WILL BE HEAVILY REGULATED INORDER TO PROTECT THEM FROM WALL STREET PEOPLE. The (1) is to support and extend human life and to save human life The (2) is to create a NATIONAL INDUSTRIAL SELF-SUFFICIENCY INDUSTRIAL ECONOMIC BASE and to act only as a DETERRENT-DETERRENCE AND AS AN ECONOMIC BUFFER ZONE against all kinds of criminal economic and criminal corporate malpractices and abuse-misuse of economic power by the private sector. Because not everything can be privatized because they are a PUBLIC SERVICE AND ALL PUBLIC SERVICES, BOTH PASSIVE AND ACTIVE IN NATURE WILL PERMANENTLY REMAIN AS PUBLIC ASSETS AND PUBLICLY OWNED AND PUBLICLY MANAGED AND ADMINISTERED BY THE GOVERNMENT. All of these basic utilities and industrial factories are to be invested into and to expand by the social security taxes and retirement money TO PRODUCE THE STEADY STREAM OF DIVIDENDS TO SUPPORT THE PENSION PLANS AND RETIREMENT PLANS of all Americans.

[@ReedoAce]

Key to this story is: Don’t trust anyone but yourself.

[@visitante-pc5zc]

specially government

[@billytheweasel]

@@visitante-pc5zc or banks

[@eddieandavis5624]

Don't trust anyone but learn anyone that brings in beneficial ideas tooo

[@eddieandavis5624]

Example like involving yourself with the current most paying asset

[@eddieandavis5624]

Cryptocurrency

[@hnledoux]

Why manage the money properly if these corrupt swindlers can fall back on the federal government every time.

[@arnoldziffel5627]

The perfect environment for fraud, waste, and abuse.

[@realvisionfinance749]

Thanks for your feedback. For more guidance W... h... t... s... a... p... p + 1 ... 6... 7... 8... 4... 3... 4... 3... 4... 6... 7...,,,

[@prospectorpete3738]

If you call 'falling back on' printing money

[@Matsonman]

This state problem was known and very well documented almost two decades ago! And nothing has been done to address this! Sadly, there is no surprise here...

[@CharlieBoy360]

I've come to realize that most "smart" people really aren't that smart. Privileged and niave is a better description.

[@davisholman8149]

@@CharlieBoy360 Unfortunately - all it takes is a medical issue or spouse’s medical issue - or a Wall Street greed mess(2008-2011), to ruin the best laid plans. Trust me - a medical issue can happen to even the fit, healthy eating American you would not think of as being a risk.

[@veronica5360]

Hi Steve

[@hbdleadershipgroup2741]

Thank you for putting this together. I am going to share this with everyone I come across.

[@johnkenneally6283]

Just imagine how the people who don't have a pension, worked full days, the year round way past his age, and are being taxed to death to support the absurd pension promises feel.

[@johnhardin4358]

"Promises are like piecrusts, made to be broken." Lenin.

[@anniealexander9616]

Exactly! I'm considering retiring early and live off investment. I feel like I'm working 6 days a week just to pay taxes.

[@seanhiggins7518]

Perhaps they should have chosen a profession that “promised” a pension at the end ?

[@johnkenneally6283]

@@seanhiggins7518 100% of the people working for the government, like the Soviet Union, that worked great. Or these employees could pay their own way to retirement like the taxpayers who pay their salary and their pension.

[@janinewetzler5037]

@@seanhiggins7518 They did...

[@danielt8727]

So they raise property taxes in most states to try and cover this?? That's going to be a horrible cycle with sooo many ramifications

[@NotShowingOff]

It’s going to lead to a real estate crash.

[@elreytriton]

@@NotShowingOff the nation should've never been built around real estate. this nation is an experiment built on fundamental problems. no other country in the world would fall just because some houses in a culdesac dropped in price

[@jcman240]

Already a major issue in some states...in IL, one of my clients paid 27K in property takes on a 600K house in the 2020, or about 4.5% of home value...madness

[@Frank020]

Very few fund managers can beat S and P 500 over time. They want CEO income, and fees.

[@reneehenderson4818]

You are better off saving on your own. At least you wont rip yourself off.

[@benteke3158]

I feel bad for these people. Smart, gritty folks, yet they’re naive with “they promised”. I feel like they should know better

[@Mav0585]

Should they though?

[@a.brekkan4965]

I guess they never took much interest in their retirement scheme. They trusted somebody to take care of it.

[@codester1111]

It's in part our education system...but only part, everyone should learn some about the economy on their own for their own future. Being frugal, and disciplined with spending will go a long way in building wealth. Everyone doesn't have to be warren buffett to be comfortable in their later years.

[@xyz987123abc]

One reaps what effort they put into something... Nothing new...

[@karensherwin3553]

What? There was no transparency back then and really not that history of the earnings. We only knew what they wanted us to know.

[@r64g]

Very little blame is placed on the politicians who should shoulder most of the blame. They have chronically underfunded the pensions despite them buying public union's votes throughout the years with unfunded promises.

[@williamschirmacher6526]

Gov employees get pension paid for by the taxpayers but the payers get no pension. Welfare ppl make out better than working ppl

[@martinlord5969]

'The worse off they get the more they engage in risky behaviour' Here's looking at you CalPers

[@postscript5549]

My guess is that the taxpayers will have to pay the bloated promises of Calpers.

[@martinlord5969]

@@realvisionfinance749 have you been hacked?

[@bb3683]

@@martinlord5969 probably just a different account with same name shown (report it to youtube and real vision on their website)

[@migueralliart]

CalPers really got played.

[@Frank020]

They fired one manager, that was taking kickbacks.

[@heatherfeather9951]

This is both incredibly informative and incredibly frightening.

[@thesilentgeneration]

I could not afford to retire and stay in the U.S. At 58 I was divorced, so I had to split my retirement with my ex-wife. I was born in 1945 just at the end of the Silent Generation. In 2003, I had worked for the Federal Reserve Bank for 30 years. Because of a toxic work place, I had to retire to keep my sanity. My only option was to retire to the Philippines on $348 a month. It is very possible to do this. It was dicey until I was 62 and got Social Security, after that I started living very well and still do. Had I stayed in the States, I would have been homeless and on the streets. But you cannot depend on checks coming in the mail. I have many retirement checks I have not received. I believe they were stolen and cashed with fake IDs. The Fed will do nothing to help me in this regard because they show no checks unpaid. The logistics of where I live make it nearly impossible to even send a letter to the Fed. It takes two months for me to receive a letter from the States, the Fed will not entertain phone calls from retirees. They do have a company go between that takes care of retiree needs but again due to logistics, security issues, Etc, If you get locked out of your account online, it is very difficult to get any help. Even though the Fed calls itself the Federal Reserve Bank, it is not federal at all, but a commercial bank (private enterprise). Therefore, they do not direct deposit to any foreign country, unlike the federal government. All I'm saying is, you do not have to stay in the U.S. if you need to retire and cannot afford to stay in the States. Just make sure you are 62 so that you can get Social Security direct deposited to a foreign bank. A check in the mail may not work and will most likely get stolen, forged, and cashed without you or your bank knowing about it.

[@MikeJDavis747]

Probably the best return for a pension fund investment was when the Teamster's pension fund loaned money to build hotels and casinos in Las Vegas. The gangsters who borrowed that money never missed a payment.

[@santomenon3689]

Thank you for your services. We need selfless people folks who can take up such issues which is impacting our communities.

[@markdoldon8852]

@@businessbro4591 G. O. A W A Y.

[@Clubrat]

Crazy how this can go on behind the scenes. Biggest mistake was giving Wall Street bankers the opportunity to “take care” of pension money.

[@reneehenderson4818]

That state or any state should never be allowed to borrow against people's retirement funds. Never.

[@maplenook]

You’re awfully naive

[@mpower2386]

I've been working for a pension plan in Canada, our investment commitee was often pitching ideas to our portfolio managers in NYC. It came to our attention that those guys on wall street were taking our ideas to pitch to other clients.. we then decided to bring most of the investment management in house. Even if we had to hire traders, ops people, increase the size of the IT department we still saved a truck load on fees and our risk adjusted returns went through the roof.. wall street people are pros at generating fees, not managing money.. pension plan are prime candidate to get effed by the street.. In our case our management figured out what was going on but a lot of big pension management teams are clueless and vulnerable to the BS that is being peddled to them...

[@a.brekkan4965]

It is like financial illiteracy.

[@mpower2386]

@@a.brekkan4965 yep, if every users of the markets would act according to what is best for them things would get fair real fast. However too many people rely on financial institutions for "advice".

[@johndevita4236]

Wall Street refers to pensions as " Dumb Money "

[@johndevita4236]

Kudos to Canada for changing their method.

[@marcuskelly5768]

Another great documentary.. Thank you.

[@lianlight8447]

Here's a summary of this whole video... "BUT YOU PROMISED"

[@cryptoguruguy8965]

@Real Vision Finance always

[@dohczeppelin37]

If you put your money in a Roth IRA for your whole life because the deal was that the government wouldn't tax your investment returns or the withdrawals of your contributions during your retirement years, but then a few years into your retirement they changed that and started taxed all of it like earned income, what is it that you would say?

[@Ddkrew1]

Love how these pensions are investing in things that actually short the people that put their money in them. congress are the ones who have not increased the premiums to pbgc but allow the companies who file bankruptcy whose pensions are then required to be funded by them to allow the execs to claim bonuses before bankruptcy.

[@Ddkrew1]

Even after bailouts

[@davidpowell3347]

Check out if you can the recent history of Briggs & Stratton management (I believe did a horrible job over their last 10 or so years) I think voted themselves millions of $ bonus and a day or so later declared bankrupcy I believe that reflects poor laws in this country as to what is allowed in corporate governance

[@Ddkrew1]

@@davidpowell3347 jc penny was just as blatant...we have become so accustomed to robbery...

[@sharkbait2254]

Federal pensions are the best. Uncle Sam just prints more money to cover the losses. When I started taking my private pension, I took a 30 percent reduction in my monthly income compared to my salary. I have a friend who worked as a usps mail carrier. I asked him how much his income was reduced compared to his salary, he said he got his full salary. No reduction. Wow, you know government workers will never vote for any candidate that advocates for smaller government. Change will only occur once the whole system fails.

[@kyleb2892]

This comment 💯👌

[@Mav0585]

You got it - collecting my military pension once I hit age 58. And free healthcare. I’m 36 now. But you know what, I served in a combat zone, twice, and I also served for 20 years sacrificing a lot mentally and physically. So I don’t feel a bit bad about that. I also have to wait until I’m 58. Once our pensions are in trouble, then you know it’s all over for everyone.

[@michaels4255]

No, Uncle Sam does not "print" the money. He BORROWS the money, and the taxpayer is on the hook for the debt. But you are right that federal employees face a conflict of interest when they go to the polls.

[@gregspeth7910]

Your statement is false.

[@25Soupy]

Exactly. Ask your friend where does he think the money comes from that pays his full salary? Sure, the fed's may just go to the printing press but the IOU is still on the books for the taxpayer. Private taxpayer that is. All government workers a are net loss.

[@julianrdt]

Brilliant, honest tv.

[@MovieRiotHD]

Universal problem this, relevant as never before!

[@DaveBraga]

1. Public service pensions promised workers they could retire at 50/55 and assumed you live to 70. Those of us in private industry work till nearly 70 and have *no* pension. 2. Pensions were fleeced by heavy management fees to benefit Wallstreet and the managers themselves. 3. Poor pension performance hidden from everyone.

[@cryptogold8753]

Shocking. Great video.

[@compresswealthdivideeconom3757]

Government employees get far too much in pensions.

[@realvisionfinance749]

Thanks a lot for your feedback. For more guidance W... h... t... s... a... p... p + 1 ... 6... 7... 8... 4... 3... 4... 3... 4... 6... 7...,,,

[@compresswealthdivideeconom3757]

@Alpha Status Stock ?

[@sivi9741]

As if it’s because of them the US debt is huge lol . Go trump go right ?

[@gregorylyon1004]

They voted themselves a lifetime free ride all paid for by the public. They don't care about you

[@johnstirling6597]

People would, (in general) be far better off putting their pension/investment savings in a vanilla index fund when they start work and by the time they are due to retire will be quite well off, a little bit , invested regularly as well as home ownership is the way to go.

[@davidpowell3347]

I think that Germany was one of the first places where an idea developed that older workers should have some kind of pension or income provided after having worked for a large number of years

[@Hecket]

Yes, Otto Von Bismarck introduced retirement at 70 years old in 1879. When it became clear that less then half of the workers reached 70 years old and legislators debated the intent of Otto they compromised 27 years later in 1916 by lowering it to 65 years old due to the toll Industrialization was taking on men's longevity. Prior to Otto's ideas men just died in the fields or in factories. Many work related accidents were caused by dizzyness and tripping, causing broken bones and killing the old person a few days while in agony. However, during those debates it came forward from government figures that if the intent to cover everyone the age had to be around 52 years old for that time. Other age brackets were also talked about such as 55 and 60 years old were also put forward and debated. Also forms of early retirement for heavy physical occupations was debated. Also forms of part time work and light duties for those deemed elderly to keep people spry until 70 years old was also talked about and that retirement should not in essence be this dead stop and seizing all work, unless the work is disliked by the worker. Lots of legislation was put forward but nothing was passed for a long time until conceding to lower it to 65. The taxpayer bore the brunt of this paying for the retirees and if you compare it to today, having the taxpayer pay directly would be allot cheaper then what it currently is.

[@davidpowell3347]

@@Hecket It has been my impression that blue collar workers on the average have earlier age at death than professionals or management,"white collar workers" have been faulted for "poor exercise habits" but harder to go for a half hour run after doing back breaking labor for a number of hours as opposed to someone coming out of a nice air conditioned office

[@Hecket]

@@davidpowell3347 Studies have shown that those at, near or just above the poverty line have terrible diets. Most people who work menial labor are underpaid for their efforts and suffer because of it. Most of the migration issues are about importing more cheap labor to keep these working poor their wages down. Higher education jobs would screech and holler about unfairness and injustice if this was done to them. So we can see the current gap of around 400 Euro's difference in the last decade now of stagnating wages for the lower classes while wage growth occurred for the middle and upper classes. Diet is the number one factor of heart disease and as such shortens their life spans by about 20 to 30 years. Quality food is expensive. Cooking food is difficult if you're not in a family or do not have cooking skills. Picking up a pre-cooked meal filled with preservatives and other laced with pesticide crops tends to lower your life expectancy. Most poor people opt to buy takeout fast food. You can see it with the current lockdown idiocy and the amount of food delivery orders. There's a reason why i have my own vegetable patch to grow most of my own food. I buy meat directly from local farmers whom i know are organic farmers. Allot of folks near the bottom also suffer mental illness problems which compounds the problem and thus these folks are never able to fix or self improve to get out of the situation they are in, in essence it's a bottomless pit. The high sugar food (fructose corn syrup) throws the calorie in calorie out argument out the window as it messes with metabolism and causes the about 35% of that fructose corn syrup to be stored within the fat cells. Thus losing weight becomes an issue of changing diets and not necessarily about losing weight. Cutting out fructose corn syrup itself will see a drastic weight drop. Anyone who claims that 'white collar workers' just need to do some exercise to get healthy is attempting to gaslight you. Physical fitness is not required for people who work physically demanding jobs, they get their daily exercise requirements at their job while working. Most of the current older men that we see above 80 years old all worked a desk job and did not get obese in their life and did not smoke and barely drank if any alcohol. All other men of their generation are dead. Those whom were obese, drank or smoked died around their early 50s to early 60s.

[@michaelepp6212]

@@Hecket Yes, I read that at the beginning in Germany the average worker retired at 65 and passed away about 3 years later! Not much burden on the state pension system' back then!

[@chriscich]

Go back even further. The Roman Empire. A soldier who worked 25 years was given a monthly payment of Silver and 10 acres of land.

[@saltnutzzzz]

They're just a bunch of people depending on the government. What did they think was going to happen?

[@saltnutzzzz]

@Alpha Status Stock I got some free bitcoin. Sold more than enough to get my initial investment back. I don't mess with the rest of them. But I wouldn't be surprised to see it outlawed.

[@johnhardin4358]

Depending is key. Slavery is yoked to dependency.

[@LearnWithMike]

Nice video... very sad as well.... that is why people need to continue getting financial education and take matters in their own hand.... otherwise when you depand on 3rd party state/government you increase your risk of ending up in this kind of situation...

[@realvisionfinance749]

Thanks for your feedback. For more guidance W... h... t... s... a... p... p + 1 ... 6... 7... 8... 4... 3... 4... 3... 4... 6... 7...,,,

[@stevevalkos6308]

In his accounting list Dave notes: "I perhaps should have continued to teach; I'd be enjoying $80,000 salary as well as health and dental benefits." 80K to teach phys ed to pre-teens? That was a sweet deal.

[@johnhardin4358]

Huh. For that I would work until I dropped dead. People who risk their lives get less.

[@tooeybrown700]

He needs to switch his expected $80,000 lifestyle for a $48,000 lifestyle. Then he'll be fine. Or get a $12/hr part time job for extra cash.

[@prestonphelps1649]

if you can't save a bunch of money on that salary over 37 years....... your doing a lot of things wrong.

[@HALee-]

@@prestonphelps1649 where in the video is it stated that he was making $80,000.00 for each of those 37 years? I seriously doubt he started out with that salary.

[@carsonc29]

@@prestonphelps1649 it really depends on what state a person lives in... where I live, 80k a year will get you a nice house and lifestyle..but in NY or CA, 80K isnt that much...and sure, he could have lived in a lower taxed, lower priced state..but then his salary would be adjusted to his new surroundings...so his 80k goes to bout 60k....and he'd run into the same issues

[@jeremyp.4859]

Hey I'm in my thirties, be thankful for whatever you get because I will never get a pension.

[@James-vj5hz]

Why would you want a pension?

[@NotShowingOff]

James dude there are govt employees, civilian and military that get these pensions that are just insane. After twenty years. 50 percent of final pay., after 30 years 75 percent. Just insane.

[@goncalopinto1078]

Bro in Portugal people get 100% of thr avg of your last 10 years which obvs tend to be your best ones. Unsustainable

[@migueralliart]

Why a pension? Be free, fund 100% roth as higher taxes WILL be coming.

[@b.j.n.g.354]

TO : JEREMY P. ; WHY WILL YOU YOURSELF NEVER EVER RECEIVE A PENSION ? BE WELL. ---EMERITUS PROFESSOR BJNG.

[@rogain662]

The fault is yours that you put complete faith in a corrupt system. Gulliblity is unacceptable.

[@SevenEllen]

But first you have to dodge the minefield that is extremely clever multi-million dollar marketing and manipulation. Unless you live off the grid, no phone, no internet, no electric power, and all your money withdrawn into physical cash and stashed in a safe somewhere about your home, you're never truly in control. Land of the free (prisoners). They can go everywhere they want, but you don't have to put a person behind bars to trap them, not when you've locked up someone's mind exactly where you want it: Under control.

[@johndevita4236]

This was when you still trusted your government.

[@karensherwin3553]

That’s where education comes in.. Teachers salaries?

[@Ddkrew1]

The other problem is the predatorial system...when you increase benefits, they increase prices...the cost of these assisted living is outrageous...and it doesnt change the care if you have worked hard and saved to pay for it or if the government pays for it...so absurd...

[@arnoldziffel5627]

Independent living is another scam too.

[@k98killer]

There are many contributing factors, but one that cannot be ignored is the demographic decline. China is currently going through what America went through that led to the pension and wealth inequality issues plaguing society. People are bad at basic calculus, statistics, and Bayesian reasoning, so each generation expects things to continue more or less linearly forever; this expectation leads to improper and incompetent planning; the inadequate plans then fail and cause suffering. I guarantee that if the creators of the pensions had known then what they know now, they could have made pensions plans that actually worked.

[@Ddkrew1]

@@k98killer somewhat agree.. however when nepotism enters the financial system and lingers to this level, who will be brave enough to say no more..clearly they can just make rules to increase the opaqueness and obscurity, so they can just as well create rules that increase transparency and simplify practices. This is not a lobbying agenda if you want the pork. They can make pensions managers fiduciaries, they can publicly disclose foundation investments and share conversions, they can make it illegal for companies to be owned more than 49% by parent companies from foreign national investors.. they in fact have done the exact opposite and now our national security, independence and freedom is at risk for the sake of fakely printed fiat for a favor. Never the front door...

[@Ddkrew1]

@@k98killer they can change wash rules for small investors, premiums for smaller amounts of physical metals, tax write off rules for everyday workers not just businesses, disallow foreign investment margins of only 10% while requiring us taxpayers to have 50%, disallow tax rebates at all if you have not paid in for the preceding years, require options and derivatives to be at least 50% backed by assets if over 25k, disallow prereading of trade orders by hedgefunds, evaluate the critical mineral resources sourced from US and rewrite what can be removed from those mines in shortages and create mou's for new investments in such. We all know there are plenty of resources that are outsourced that increase our costs, put us at risk and we still pay the taxes for their investors cojoint agendas.

[@elreytriton]

@@Ddkrew1 None of that is gonna help. The vast majority of americans do not have stocks. Tweaking some investment laws will do absolutely nothing. These are structural issues. The market and real estate are higher than ever in history and people are broke. The vast majority of wealth is in homes, and if you sell that you need to buy another. The economy is a house of cards. The market is going to collapse when the money starts flowing out of those retirement funds

[@SilverLife-oi4ng]

Sorry but the tax payers can't afford the bloated pensions. They need to cut pensions across the board.

[@lvclt500]

If pensions are cut the salaries will need to increase, which will equal itself out. Government employees are paid less than employees in non governmental sectors. On top of that it is mandatory that they contribute to their pension which could be up to 12% of their paycheck. So TAXPAYERS are not paying all of the governmental pensions. And don't forget government employees pay taxes as well.

[@SilverLife-oi4ng]

@@lvclt500 lol. You crazy.. government employees are paid more then they would ever make in the private sector. . Have you seen the garbage the government employees put out. Try the DMV or cal Tran anything.

[@lvclt500]

@@SilverLife-oi4ng I deal in facts not opinions. "The average base salary for a state worker is now 6.5% lower than the prevailing market, according to a Department of Personnel and Administration."

[@MrSaljstn]

Robert Kiyosaki said it 10 years ago

[@wyatt1153]

Why wasn't the head of the pension fund arrested and jailed for malfeasance??? She was totally incompetent or got paid off.

[@rickybev3078]

I always find it interesting that the states want sovereignty from the republic when it suits them or they disagree but as soon as something goes wrong they run to that same government and ask to be made whole.

[@michaelepp6212]

Just so here in Canada too, with the provinces versus the feds.

[@2012photograph]

Both WSJ & NY Times have discussing for last 25 years problems but few folks pay much attention.

[@gevdarg]

Another lesson is pay people what they're worth upfront instead of making empty promises.

[@BirdDogey1]

Most of the US does not have any pension. Not even an underfunded one. We are headed toward a retirement crisis. Most people in our country are careening toward poverty.

[@scottstankis69]

DO NOT LET ANOTHER PERSON TAKE RESPONSIBILITY FOR YOUR MONEY!

[@williamn6935]

Unfortunately, when it comes to a pension system, you have no choice but to let someone else take responsibility. If they then hide the real numbers, as described in the video you are s*** out of luck.

[@realvisionfinance749]

Thank you for watching, I appreciate endeavor to write as soon for more enlightenment or tipS w_h_a_t_s_a_p_p +_1 6_ 7_8 -4 3_4. -3.. _ 4 6_7...

[@alantheusthompson5594]

Why btc is important.

[@mr.whomoney1659]

Thanks

[@jay_stack1270]

Wow 😳 a lot going on in this country

[@RS-pp7ng]

'it was promised' - oh my.

[@waverly2468]

Pensions are not unbreakable promises. If you are expecting a pension, it is your responsibility to monitor how your pension fund is doing. If it's 60% funded you better do your own saving. People 'in the private sector are expected to monitor their 401K's and adjust their investments if their account isn't growing fast enough.

[@michaelsmith5463]

I fairness, it's more of a contract...participation is mandatory. My last % was 12+%.---Thats 12% off the top. Most ppl cant save that, nor could they save more on top of that.

[@barrytantlinger1033]

Except most of us were paying into our pensions (8% in my case), which makes it hard to save on top of that.

[@elreytriton]

Monitoring your pension means nothing. You cant change a thing. The problem is you've now gave a company 20-45 years of your life in exchange for that pension. That's not a normal "loss" if you dont received what you were entitled to.

[@marianhunt8899]

Wall Street will rob you too no matter how you monitor it

[@joenathan6458]

Geez, can’t imagine how underfunded pensions would get if inflation really does kick in

[@lvclt500]

Well, inflation has kicked in. This should be interesting.

[@MisterGoodDad]

Dang..and here we are. How prophetic your comment was

[@Rethanos]

Whining about those who have pensions siphoning money from taxpayers without retirement, let alone fat government pensions

[@realvisionfinance749]

Thanks for your feedback. For more guidance W... h... t... s... a... p... p + 1 ... 6... 7... 8... 4... 3... 4... 3... 4... 6... 7...,,,

[@howellwong11]

My federal retiree pension and SS is enough for me now that I am going on 89 years of age. I was just born at the right time.

[@FrugalTeacherFI]

My job we get no social security. So I have to save in Roth IRA. And brokerage account. My pension will give me a whopping 30% of salary

[@gregorylyon1004]

Federal retiree's got a free ride. They make as much or more than they did working. Your generation cares nothing about the next generation

[@lanebullger]

How about quality of life in general

[@winterskiU]

Look after yourself and your family you have no one else.

[@Nickle314]

There is the question that isn't being asked is why so many, almost all of the pension schemes have massive deficits where assets are less than liabilities. It's a systemic issue, and the question is what's the common factor. It's quite simple its the discount rate set by governments for discounting liabilities. Government's want to hide their liabilities, and one way is to set a high discount rate, making liabilities look smaller, and hence schemes look solvent. Roll on and now the liabilities are due in the near rather than the far future. The discounting effect disappears for short time periods. Now those liabilities aren't hidden by the discount fiddle. All the schemes that where all the contributions demanded by the state were paid in, have massive short falls. If we take the UK, the discount rate for the liabilities is AA corporate bond yields with no adjustment for defaults [an asset rate not a liability rate]. 2.4%. The official risk free rate is negative 0.5%. That difference is the extent of the fraud by pensions regulators that has lead to the mess.

[@businessbro4591]

𝕀,ℕ,𝕍,𝔼,𝕊,𝕋 = 𝕀,ℕ=ℂ,ℝ,𝕐,ℙ,𝕋,𝕆,𝕊=𝕋,ℝ,𝔸,𝔻,𝕀,ℕ,𝔾.=. =𝔹,𝕋,ℂ=𝔸,ℕ,𝔻=𝔼,𝕋,ℍ=𝕎,𝕀,𝕋,ℍ=𝕄,𝕐=𝔸,𝔻,𝕄,𝕀,ℕ,𝕀,𝕊,𝕋,ℝ,𝔸,𝕋,𝕀,𝕍,𝔼=𝕂,𝔼,ℕ,ℕ,𝔼,𝕋,ℍ=𝕎,𝕀,𝕋,𝕆,𝕍,𝔼,ℝ 𝕎,ℍ,𝔸,𝕋,𝕊,𝔸,ℙℙ +,𝟙,𝟟,𝟞,𝟝,𝟡,𝟡,𝟟,𝟠,𝟜,𝟟,𝟝.

[@masterdriveroftoyotazupr4164]

*California has taxed this chatroom*

[@whiskey_tango_foxtrot__]

No democrat could be elected without the support of public unions. Public unions, to include teacher's unions, are some off the all time largest campaign contributors. Public unions give 99.9% to democrats. Democrats return the favor with insane benefits and pensions, closed shop work rules and mandatory union due collection. This is why democrat controlled cities and states, even when going bankrupt, even when warned for 30 years, will never touch public union benefits and pensions. Taxes can always be raised. Until the tax base moves away.

[@realvisionfinance749]

Thank you for watching, I appreciate endeavor to write as soon for more enlightenment or tipS w_h_a_t_s_a_p_p +_1 6_ 7_8 -4 3_4. -3.. _ 4 6_7...

[@kentrobinson2829]

Yup.... tax base have been moving for years now in Illinois.... and been moving in large numbers.... 80,000 alone last year

[@commonsenseisntcommon1776]

Demorats are elected by a combination of voter fraud and promising free stuff!

[@gevdarg]

So much for "sanctity of contracts"...

[@PInk77W1]

My pension is going down $100 a month as of Jan 1 -22 Because of healthcare costs. Thanks Obama

[@gregorylyon1004]

Your crying about a measly hundred dollars a month cut. Big deal

[@PInk77W1]

@@gregorylyon1004 You’re not your

[@nohopeequalsnofear3242]

Wait....the guy was making $68 k and is now making $56k ? Cry me a river....this guy makes plenty of money

[@jankahanek618]

Ed is great guy!! Thanks 🙏

[@maryclear617]

you've got nothing to worry about. He will trade for you and still teach you trading strategies simultaneously

[@andrewluke4055]

@@maryclear617 𝘏𝘦'𝘴 [𝘞 𝘏 𝘈 𝘛 𝘚 𝘈 𝘗 𝘗]𝟏 (𝟕 𝟔 𝟓) 𝟐 𝟎 𝟒 - 𝟒 𝟕 𝟖 7

[@33Jenesis]

I work for a jurisdiction that is as rich as a small country in the west coast. I choose to retire early to have more active years therefore my pension isn’t big. I started putting $ in 457b soon after I enter this public sector job. Currently it had dropped a lot due to market. However I don’t plan to make scheduled withdrawal until 10 years from now, hopefully it’d bounce back. Public pension isn’t created equally. Before entering the system, investigate a bit. If you are already in the system, try to change jurisdiction when the talk from coworkers and retirees about pension is negative. Also, pension by itself isn’t enough. Saving into retirement savings account on the side is also a must. Don’t retire with debt (mortgage, car loan, credit card debt, etc.).

[@lieferic9]

Shakespeare (thicker then thieves) meets Jethro Tull (thick as a brick).

[@patriciaturner9564]

Hello David

[@verygrateful007]

We are with Calstrs

[@realvisionfinance749]

Thanks for your feedback. For more guidance W... h... t... s... a... p... p + 1 ... 6... 7... 8... 4... 3... 4... 3... 4... 6... 7...,,,

[@kay203]

It's really sad. State government officials made promises that they cannot keep. If they want to, they have to tax the young additionally to fulfill those promises. What do the young do? Leave the state -> creating a vicious cycle for the states who have these problems. Those ppl have to go to prison so that future gov't officials don't make such false promises that they cannot keep.

[@eigobike3929]

Plan A. Monthly social security plus rent out my house. Go live overseas more cheaply. Don’t touch inheritance principal.

[@zevlove612]

Same as me!

[@epck]

@@zevlove612 we won't even get SS

[@latinaalma1947]

Living overseas in a beautiful calm tropical climate in Central America has made my retirement wonderful for the past 20 yrs.

[@zevlove612]

@@latinaalma1947 which part are you in

[@latinaalma1947]

@@zevlove612 Small town in Guatemala very safe colonial UNESCO World Heritage site perfect climate great people 2.5 hrs to capital for an international airport.

[@darthvader5300]

By looking at the chronological patterns of the events on WHEN this retirement crises has started and combining the data with birth rates and the demographic patterns of the entire American population on a year by year basis starting from 1950 to 2021. What we see is the CONFIRMATION of Harry Dent's aging demographic induced-economic decline when the ratio of workers which started at 5 workers per pensioner in 1950 is now at a ratio of 1 worker per pensioner. That ratio is further aggravated by a series of economic crises and government fiscal irresponsibility and by economic industrial policies like planned obsolescence when we should be researching-developing-building-making-manufacturing consumer and industrial consumable and durable products that will last and function as long as it exists so as not to bite into the pensions of pensioners and retirees. And that is what I call as "planned permanence" for all manufactured products and construction products and building products. The same thing also applies in life-supporting infrastructures and economic industrial-supporting technostructures. This is just one of the many factors that must be included into the situation of the retirement crises. Japan is already there, South Korea is just entering it, Germany is half-way into it already BUT THESE KIND OF NEWS IS NOT HITTING THE FRONT PAGE HEADLINES! In the 1960s and 1950s there are no 401 Ks and IRAs and ROTH IRAs, just Social Security pension plans where all social security taxes and all retirement money goes into. Just one plan. And all of that social security tax money and retirement money goes into (1) Life-Supporting Infrastructures Public Utilities and (2) Economic Industrial National Security Self-Sufficiency Infrastructure. All are government owned and government regulated and government controlled. This ORIGINAL social security financial management-INVESTMENT set up was created by the FDR NEW DEALERS of the 1930s and 1940s but was corrupted gradually in the 1960s and is literally destroyed by a group of young LIBERALS, Bill Clinton among them. In the 1970s , a wave of young liberals. Bill Clinton among them, destroyed the populist Democratic Party they had inherited from the New Dealers of the 1930s. The contours of this ideological fight were complex, but the gist was: Before the 70s, the Democrats were suspicious of big business. They used anti-monopoly policies to fight oligarchy and financial manipulation. Creating competition in open markets, breaking up concentrations of private power, and protecting labor and farmer rights were understood as the essence of ensuring that our commercial society was democratic and protected from big money. Here is a draft of how it once looked like and it was once managed-invested. The 1950s and 1960s are the golden years of REAL RETIREMENT SECURITY for you were young and fresh and dynamic because your American demographics at that time is YOUTHFUL! "YOUTHFUL!" The (1) are for heavily regulated and policed and and will not be privatized as mandated by government by laws: (1) water utilities (2) sewage utilities (3) power utilities (4) communication utilities (5) public transportation utilities (6) public train utilities (7) public aircraft utilities (8) critical toll roads (for expansion and preventive maintenance and preventive repairs) (9) critical active bridges (for expansion and preventive maintenance and preventive repairs) (10) basic education schools The (2) are for heavily regulated and policed and will not be privatized as mandated by government by laws: (1) basic iron and steel industry (2) basic machine tool industry (3) basic heavy engineering industry (4) basic machine building industry (5) basic cement industry (6) basic sand and gravel industry (7) basic dimension stone quarry industry (8) basic oil and gas and coal and petrochemical and synthetics industry (9) basic electrical and electronics industry (10) basic medical hospitals and clinics ALL OF THEM WILL BE HEAVILY REGULATED INORDER TO PROTECT THEM FROM WALL STREET PEOPLE. The (1) is to support and extend human life and to save human life The (2) is to create a NATIONAL INDUSTRIAL SELF-SUFFICIENCY INDUSTRIAL ECONOMIC BASE and to act only as a DETERRENT-DETERRENCE AND AS AN ECONOMIC BUFFER ZONE against all kinds of criminal economic and criminal corporate malpractices and abuse-misuse of economic power by the private sector. Because not everything can be privatized because they are a PUBLIC SERVICE AND ALL PUBLIC SERVICES, BOTH PASSIVE AND ACTIVE IN NATURE WILL PERMANENTLY REMAIN AS PUBLIC ASSETS AND PUBLICLY OWNED AND PUBLICLY MANAGED AND ADMINISTERED BY THE GOVERNMENT. All of these basic utilities and industrial factories are to be invested into and to expand by the social security taxes and retirement money TO PRODUCE THE STEADY STREAM OF DIVIDENDS TO SUPPORT THE PENSION PLANS AND RETIREMENT PLANS of all Americans.

[@bkinouye]

For public pensions, do you have the option to take your distribution as a lump sum? No way would I let these incompetent pension managers manage my money.

[@maplenook]

NJ used to allow it

[@fee1776]

Teachers support politicians that promise them more benefits than the fund could afford and voted out politicians that told the truth. Now 30 years later your pension is under funded. Your unions formed an unholy alliance with political candidates who lied. So you voted in a governor who appoints teacher friendly negotiators who gives you all you want, but he knows that the system cannot sustain it he leave office and retire with a gov pension. Many teachers are women and it is easy to convince them with emotional arguments like it is for the children that many programs and funds are approved when in actuality they are financially unsustainable. Emotional profession, emotional voters are easily manipulated by politicians to the detriment of the entire state financial system. Even worst many of these teachers also teach our children to grow up as emotional adults creating even more political chaos to our nation as a whole.

[@businessbro4591]

𝕀,ℕ,𝕍,𝔼,𝕊,𝕋 = 𝕀,ℕ=ℂ,ℝ,𝕐,ℙ,𝕋,𝕆,𝕊=𝕋,ℝ,𝔸,𝔻,𝕀,ℕ,𝔾.=. =𝔹,𝕋,ℂ=𝔸,ℕ,𝔻=𝔼,𝕋,ℍ=𝕎,𝕀,𝕋,ℍ=𝕄,𝕐=𝔸,𝔻,𝕄,𝕀,ℕ,𝕀,𝕊,𝕋,ℝ,𝔸,𝕋,𝕀,𝕍,𝔼=𝕂,𝔼,ℕ,ℕ,𝔼,𝕋,ℍ=𝕎,𝕀,𝕋,𝕆,𝕍,𝔼,ℝ 𝕎,ℍ,𝔸,𝕋,𝕊,𝔸,ℙℙ. +,𝟙,𝟟,𝟞,𝟝,𝟡,𝟡,𝟟,𝟠,𝟜,𝟟,𝟝

[@johnhardin4358]

When I grew up the male math teachers had the biggest paddles. They were on display. Nobody believes me when I tell them this. That's how far we have come. I got a taste of the vice principal paddle. Once was enough.

[@maplenook]

Giving women the vote sealed the future

[@raymondcouture9374]

The thing that is not mentionned here is the pension amount was originaly supposed to provide for one pensionner and maybe a spouse. In theory, at 65, your house is paid for and you are debt free. In reality, today at 65, you are probably still helping out your 2 adult children who at 40 still have not recovered from the 2008 melt down and have still to start a lucrative carrer. You help them with living expanses and debts sush as student loans. This situation does not end because you turned 65. You still have to spit $10,000 to each each year as you have been doing since 2010. Imagine the predicament if on top of that your pension is cut by a sustential amount... and you are still expected to help with the grand children's colledge funds like you have been promissing since they were born.... All you need to make a perfect picture are the bills for the seniors care retirement home where your elderly parents in their 90s live. Same for your spouse's parents...

[@cogen651]

I invested in bonds 2000 to 2009 and did great while my friends in stocks lost everything, I'm now a millionaire.

[@prospectorpete3738]

Well if they kept their stock they'd be doing well now

[@cogen651]

@@prospectorpete3738 it depends on what stock they bought

[@johnhardin4358]

Try that again at 1 %.

[@briangasser973]

If your friend bought into a total market index fund, SP500, or QQQ, their returns would significantly exceed your bond returns.

[@HighwayLand]

I'm 42 years old and I already know that I will never see Social Security. Sad to say but the only reason people are getting Social Security now is because I'm still paying for it. People my age and younger shouldn't even be paying for it at all!

[@tooeybrown700]

I've been hearing the same news for 20 years, so yeah, I'm not counting on it.

[@kingofrivia1248]

tbf they need some system so if there is a reform or a new system the people that paid usually do get more than the ones that didnt. Historically atleast

[@edwinhargrave679]

My generation has paid Into and the ones before mine so your Generation will have to Pay no disrespect,but Understand this.

[@srikark3532]

This is unfair, these guys deserve what they have promised. And we need complete transparency from the financial services sector, if needed please pass a law.

[@janinewetzler5037]

These financial institutions lobbied hard to Congress when a fiduciary pledge bill proposal was introduced before 2013 in the U.S.

[@tchen61]

Yet, Gina Raimano is now secretary of commerce...

[@terabyter9000]

Literally a Math teacher.

[@bloodmuffin123]

Australia has.solved this problem with industry led superannuation funds.

[@richardjones2609]

P-O-N-Z-I

[@cody5596]

I’ve seen a few of these documentaries that tout pensions over 401k plans. I view this in the same way I view social security. Give me the money instead of putting it into a pension or the social security fund and let me control it. I have more of a vested interest in my future than any company or the government.

[@sct4040]

It's better to manage your own money in a 401k/403b and IRAs, instead of relying on some organization to keep your money safe. Example, Pan Am went bankrupt and all the employees lost their pensions. It's stories like that, that makes me save on my own. 👍

[@daviddoink872]

The swamp needs draining.

[@sivi9741]

Imho this is an example that shows the failure of a public school education system . One of the best education you can have is to learn how to make money work for you , they don’t teach you this at school . Too many people knowing how the economy works would prevent Wall Street and the top 1% to swindle the public .... Like the last 4 bail outs ! And of course the abandonment of social responsibilities by the private sector of the 1950-70s. First thing people should do is simply buy 1 once of gold per year , just that would probably solved like 50% of their problems later on 🤷‍♂️.

[@Josh-ls9hn]

Thank you for watching, endeavor to write as soon for more enlightenment or tips w_h_a_t_s_a_p_p +_1 3_ 0_5 -7 _6 _8. - 9_ 3_ 0 _9..

[@25Soupy]

I know right? How bad is the education system and the people that work in it? Just brutal. The public school indoctrination complex.

[@Jimsac8]

There are life insurance products that people can use to prepare for retirement. Why don't people look into those?

[@jsmdify]

I do feel some level of sympathy for these people as the states make a promise but I am amazed that anyone with a background in teaching and in particular teaching math could buy into the promises of a state teachers pension fund. Only self delusion can drive such beliefs. How can someone believe they can contribute 8% of their salary for 20 or 25 years and then retire and get 80% or even 60% of it for another 25 years. Pensions only work if people retire late in life and only live 7 to 10 years to collect but retiring in your 50s to collect for 30 years at 80% of your salary? Where in the universe does that math work? I don’t care if you’re getting 8% returns or not. That was an obvious lie from the beginning that anyone who even loosely follows their money should’ve realized. If someone promises you a trip to the moon would you expect them to keep that promise? Would you believe that they even could? Childish

[@maplenook]

My dad collected for 25 years. Long life. Actually he cashed out and lived off an annuity all that time!!

[@maplenook]

And yes he worked 25 years exactly. Finished PhD at 40, retired at 65

[@mypointofview1111]

The problem with ALL financial institutions is they will habitually fail its investors large & small because they can afford to be reckless with peoples investments. They can do it because they know the lender of last resort is the government. That needs to change & governments need to enshrine guaranteed pensions for everyone, removing the greedy sharks from the picture

[@mattizie91]

Whenever anyone mentions a pension, I laugh. It'll be stolen or hyperinflated away to nothing... that's I live to the 80 years old or whatever that it'll eventually be raised to. Much better to put it away and hide it far from the prying eyes of government.

[@annaphillips1286]

I read the book Rich Dad Poor Dad and yes I do have empathy for Workers who went into their Professions for Pension security. But the world being what it is depending on someone to take care of you is weak. That's how you are guaranteed to get ripped off. I am an Entrepreneur I write my own script control my own very handsome Portfolio keeping a firm eye on the Economy Federal Reserve and Markets.

[@sadietombs5304]

I expect a lot of stimulus money will go towards pension bailouts

[@businessbro4591]

𝕀,ℕ,𝕍,𝔼,𝕊,𝕋 = 𝕀,ℕ=ℂ,ℝ,𝕐,ℙ,𝕋,𝕆,𝕊=𝕋,ℝ,𝔸,𝔻,𝕀,ℕ,𝔾.=. =𝔹,𝕋,ℂ=𝔸,ℕ,𝔻=𝔼,𝕋,ℍ=𝕎,𝕀,𝕋,ℍ=𝕄,𝕐=𝔸,𝔻,𝕄,𝕀,ℕ,𝕀,𝕊,𝕋,ℝ,𝔸,𝕋,𝕀,𝕍,𝔼=𝕂,𝔼,ℕ,ℕ,𝔼,𝕋,ℍ=𝕎,𝕀,𝕋,𝕆,𝕍,𝔼,ℝ 𝕎,ℍ,𝔸,𝕋,𝕊,𝔸,ℙℙ +,𝟙,𝟟,𝟞,𝟝,𝟡,𝟡,𝟟,𝟠,𝟜,𝟟,𝟝

[@melaniemorgan8974]

It did. That's what the state bailouts were for.

[@brianmcintyre8940]

3 years ago ?

[@georgedible1]

They gain your trust,overpromise,sell you out on their behalf in the end

[@Nickle314]

The question is, what about Social security. Completely unfunded. That's the key issue. The choices are clear. 1. Default on the pensions - pensioners lose 2. Massive tax increases to pay the debt - workers lose 3. Cut services - the public loses. In all cases the public loses.

[@businessbro4591]

𝕀,ℕ,𝕍,𝔼,𝕊,𝕋 = 𝕀,ℕ=ℂ,ℝ,𝕐,ℙ,𝕋,𝕆,𝕊=𝕋,ℝ,𝔸,𝔻,𝕀,ℕ,𝔾.=. =𝔹,𝕋,ℂ=𝔸,ℕ,𝔻=𝔼,𝕋,ℍ=𝕎,𝕀,𝕋,ℍ=𝕄,𝕐=𝔸,𝔻,𝕄,𝕀,ℕ,𝕀,𝕊,𝕋,ℝ,𝔸,𝕋,𝕀,𝕍,𝔼=𝕂,𝔼,ℕ,ℕ,𝔼,𝕋,ℍ=𝕎,𝕀,𝕋,𝕆,𝕍,𝔼,ℝ 𝕎,ℍ,𝔸,𝕋,𝕊,𝔸,ℙℙ. +,𝟙,𝟟,𝟞,𝟝,𝟡,𝟡,𝟟,𝟠,𝟜,𝟟,𝟝

[@Lucy-ec4pt]

What's the point in investing in pensions or 401k's if your going to have to work for your entire life. And how would Wallstreet and elected officials answer this and will it mean the death of Wallstreet if the American people are not investing in stocks for pensions and or 401k's

[@FletcherFinance]

If you want to be wealthy, you need to feel and look wealthy. Start by investing in a Louis Vuitton clothing line, then new vehicle, and finish off by eating at expensive places. You are as wealthy as you feel.

[@horos5870]

So briefly, we have to work until we die mostly? XD

[@brocklanders6969]

Sorry, but the tax payers didn't promise you a pension. That was a politician's vote buying scheme. Cue the violins -- few of us in the private sector have pensions.

[@ronits6361]

america is so screwd

[@realvisionfinance749]

Thank you for watching, I appreciate endeavor to write as soon for more enlightenment or tipS w_h_a_t_s_a_p_p +_1 6_ 7_8 -4 3_4. -3.. _ 4 6_7...

[@bradleyqueen3879]

Sure is. Not much to do but watch it implode. Only a matter of time.