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armytiger96
| Favorite team: | Army  |
| Location: | |
| Biography: | |
| Interests: | |
| Occupation: | |
| Number of Posts: | 2634 |
| Registered on: | 9/17/2007 |
| Online Status: | Online |
Recent Posts
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re: A quarter of Americans have no retirement savings. Zero.
Posted by armytiger96 on 5/30/26 at 12:35 pm to N2cars
quote:
I do know a lot of folks with military retirements and I assume that counts as a pension.
Correct. The vast majority of pensions today are government base.
However, it looks like in 2018 they have switched to a blended system which is similar to a 401K plus a slightly reduced pension if you fulfill 20 years of service.
The blended system is nice because it used to be all or nothing from the gov't.
In my opinion we should look at the blended system and its transition as case study for privatizing SS benefits.
1
re: A quarter of Americans have no retirement savings. Zero.
Posted by armytiger96 on 5/30/26 at 11:13 am to TigerintheNO
quote:
I seriously doubt that.
Here is a quote from the source:
quote:
Around 56% of baby boomers have a traditional pension plan, making them the last generation with widespread access to defined-benefit pensions before employers largely shifted to defined-contribution models like 401(k)s.However, pension coverage varied significantly based on where they worked:Private Sector: The tail end of the boomer generation missed out on private pensions, with only about 6% of late-wave private-sector boomers having a pension plan.Public Sector: A significant portion of boomers with pensions worked for the government, military, or were highly unionized private-sector workers.Because pensions are increasingly rare for younger workers, the boomer demographic still relies heavily on these steady, monthly checks alongside Social Security and 401(k)s to fund their
We can dispute the % all day long. I really don't care. It doesn't change the fact that article may be 100% factual in its statement it in that median retirement accounts for Boomers is $200K but it is misleading in that a significant portion of the Boomers have guaranteed pensions as part of their overall retirement plan.
quote:
If fact the % of baby boomers with a pension is equal to the % of baby boomers that don't even have retirement accounts, both around 20-24%.
If I'm understanding you correctly you can't make this assumption. Just because someone has a pension doesn't mean that they don't also have an IRA or some other form of savings.
The other fallacy of the article is that it doesn't take into any consideration of savings outside of a retirement account. For example a boomer plant "baw" working at refinery ABC likely accumulated a nice chunk of stock throughout his career. If this stock is held in a brokerage account and not a retirement account then he could be receiving a nice chunk of change each quarter as a dividends distribution that would essentially be retirement income that is not accounted for in the article.
In my opinion the article is click bait with the intent to stir up others and throw fuel on the generational warfare that is quickly becoming prevalent in our society.
re: I’m the Soldier Platner Mocked. Lib men have an identity crisis. Platner’s an example.
Posted by armytiger96 on 5/30/26 at 10:40 am to NC_Tigah
quote:
A campaign spokesperson explained that Platner could choose to take a salary or take an owner’s draw from his oyster business, but instead opted to reinvest the money back into the company so as not to affect his disability benefits.
Not defending Platner at all, but from my understanding of VA benefits this spokesman is either full of shite or the author misunderstood because VA disability ratings and payments have nothing to do with income other than to get a higher rating because your injuries prevent you from working.
Several VA 100% rated vets are fully employable, have jobs that pay well above median salary, and receive a full monthly payment at 100% rating level.
If he was fraudulent in his claim and conveyed he was not employable because of his injuries to achieve then should have his claim investigated and be held accountable for a false claim.
My intention is point out the fallacy of the quote in the article and not turn this into a discussion of VA benefits or the disability program.
re: HS Graduation Culture is out of control
Posted by armytiger96 on 5/30/26 at 9:40 am to RunninReb
quote:
Mom then shoots a man trying to break up the fight.
I learned this lesson trying to be a good samaritan at Sports (Reggie's) back in the day. Fortunately, it was only a beer bottle shoved in my face and not a bullet.
re: Warning Statement on Sandwich
Posted by armytiger96 on 5/30/26 at 9:22 am to jdd48
quote:
I always laugh at the HP packaging where they show a baby crawling around with the bag over its head.
Unfortunately there is a reason they put that on the packaging and it usually isn't being proactive.
quote:
On average, around 20 to 25 children suffocate from plastic bags and wrappers every year in the United States. While these tragic accidents make up a small fraction of overall infant mortality, thin plastics conform easily to a child's nose and mouth, creating a dangerous and airtight seal.
re: A quarter of Americans have no retirement savings. Zero.
Posted by armytiger96 on 5/30/26 at 9:16 am to Centinel
quote:
There won't be a national revolt if they instead means test it. Which they will. Your SS contributions will be given to someone else if you have been responsible in any way with your finances in life.
This is my biggest fear and where I think the revolt should happen! Reward dead beats and those that didn't save because they were living the lifestyle while punishing the responsible ones!
Unfortunately, we'll be too old a decrepit to revolt at that point!
re: A quarter of Americans have no retirement savings. Zero.
Posted by armytiger96 on 5/30/26 at 8:49 am to Everyday Is Saturday
quote:
The early years are THE most powerful in time value of money. May future generations NOT miss taking advantage of them.
Yep and it pisses me off that in my early years I was only allowed to put a max of $2,000 a year in an IRA.
Today those lucky bastards get to put $7,500 into an IRA or $24,500 plus employer match into their 401(K).
re: LSU is preparing for a freshmen class of 9,000 this fall.
Posted by armytiger96 on 5/30/26 at 8:47 am to Everyday Is Saturday
quote:
Vanderbilt University 94% University of Florida 91% University of Georgia 90% The University of Texas at Austin89% Texas A&M University 84%
These school are obviously extremely selective in their admissions process which theoretically should result in higher graduation rates.
These rates are higher than the Services Academies (85%) which usually boasts about having some of the highest grad rates in the country.
re: A quarter of Americans have no retirement savings. Zero.
Posted by armytiger96 on 5/30/26 at 8:41 am to Rabt
quote:
We should be teaching the importance of finance, education, work ethic to children starting at an early age.
In my opinion this is the job of the parents not the government and it sounds like you did this as a parent. I believe I have as well; only time will tell.
LA now requires a financial literacy classes but of course its a very basic class that was a combination of common sense and an application of our elementary school education back in the day. There are no time value money principles or dollar cost average strategies presented in this class.
In some ways I do agree with you in that an introductory to finance/accounting class should be part of the core curriculum at the college if not HS level.
re: A quarter of Americans have no retirement savings. Zero.
Posted by armytiger96 on 5/30/26 at 8:21 am to Tarps99
quote:
I guess all these hundred thousand dollar student loans and healthcare costs are killing retirement savings.
I think it will have more to do with the luxury lifestyle that many have become accustomed to. $1MM homes, multiple vacations a year, private school tuition, eating out at nice restaurants all the time, extremely nice clothing, etc.
It is my belief and purely antidotal that most of the people living the keeping up with the Jones's lifestyle are not "paying themselves first" and are way behind in retirement savings.
I predict that a significant portion of younger Gen X and older Millennials will work through their golden years and when they can no longer work they will be dependent on their kids.
re: Looking for a nice place to take a family summer vacation? Why not NYC?
Posted by armytiger96 on 5/30/26 at 7:00 am to Great Plains Drifter
quote:
Would’ve loved to have visited during the approximate 2 decade renaissance period kicked off by Rudy and through Bloomberg but I guess things got a little too prosperous and relatively safe for New Yorkers. Since the clown deBlasio on up through present day, I’d probably take a pass.
I go there for a day or two every 10 years or so. NYC in April didn't seem much different than my previous experiences.
The biggest difference I noticed is that the elevator ride to the top of Empire State Building has been commercialized Disney style vs buying a ticket and going up an elevator like it was 30 years ago.
re: Looking for a nice place to take a family summer vacation? Why not NYC?
Posted by armytiger96 on 5/30/26 at 6:55 am to GatorOnAnIsland
I was there for a couple of days back in April and didn't see anything close to resembling what is shown in the videos you posted.
I'm not a huge fan of NYC and definitely not one of my favorite places to visit.
I'm not a huge fan of NYC and definitely not one of my favorite places to visit.
re: LSU is preparing for a freshmen class of 9,000 this fall.
Posted by armytiger96 on 5/30/26 at 6:46 am to Everyday Is Saturday
quote:
4 years. 46% 5 years ~60–63% (estimated from LSU cohort progression data) 6 years 68–69%
So 7/10 eventually graduate in 6 years?
That's slightly below national avg for public universities.
quote:
Graduation Rates by Institution TypeThe amount of time it takes to get a degree differs widely based on whether a school is public, private, or two-year:Public 4-Year Universities: 71% completion rate (6-year).Private Nonprofit 4-Year Universities: 75% - 76% completion rate (6-year).Private For-Profit 4-Year Universities: 36% completion rate (6-year).Public 2-Year Colleges (Community Colleges): 34% - 43% completion rate (3-year).
re: The amount of development Africa experienced in the last 50 years is astounding
Posted by armytiger96 on 5/30/26 at 6:31 am to rpg37
quote:
Democrats don't want you know this....but you can blame George W. Bush for much of the advancement of Africa.
Headline caught my attention. Care to elaborate?
re: The lack of prep people do for travel is astounding
Posted by armytiger96 on 5/29/26 at 10:54 pm to tigeroarz1
quote:
Sounds like my wife before our vacations. I do all of the booking and planning. Which also means I’m on the hook when she doesn’t like it LOL.
Sounds familiar
re: A quarter of Americans have no retirement savings. Zero.
Posted by armytiger96 on 5/29/26 at 8:31 pm to Everyday Is Saturday
quote:
Net worth includes tradable assets (stocks, bonds, cash/CDs/money mkt, etc) only. Not PV of pension.
Yeah kind of what I figured which is why those articles are basically click bait.
re: A quarter of Americans have no retirement savings. Zero.
Posted by armytiger96 on 5/29/26 at 8:29 pm to Dixie2023
quote:
I’d have rather deposited the theft of my wages into my own retirement account.
Said by every red blooded American that understands the most simplistic principles of finance!
re: A quarter of Americans have no retirement savings. Zero.
Posted by armytiger96 on 5/29/26 at 5:34 pm to TDsngumbo
quote:
Reading this makes me feel silly for being so paranoid that I won’t have enough for retirement one day. I’m clearly ahead of the game.
The sad part is when they means test SS benefits those of us that did the right thing will get screwed and they will take care of those that "need it the most".
re: A quarter of Americans have no retirement savings. Zero.
Posted by armytiger96 on 5/29/26 at 5:31 pm to WG_Dawg
quote:
This is shocking to me. These people have been paying into retirement for 50 years and bought a house for a soda and a pack of envelopes and this is all they have to show for it?
Here's the problem with articles like this . . . they don't define their inputs. For example does this $200,000 include the NPV of their pension plans. Almost half of Boomer generation earned a pension as part of their employee benefits. If not that number goes up significantly.
quote:
An estimated 56% of baby boomers have access to or rely on a traditional pension, though this number varies significantly depending on whether you are looking at older boomers or the younger "tail end" of the generation
re: The reality of travel baseball
Posted by armytiger96 on 5/29/26 at 9:05 am to Jenious
quote:
I would say 10% of travel ball players go on to play college ball(across all divisions, JUCO, etc). But 95% or more college baseball players have played travel ball. Especially if they're American.
Your point is valid but only 10% of high school players play college at any level.
From my anecdotal evidence very few "Travel Ball" Players get to play in high school because its so competitive.
re: My theory on why baby boomers are criticized
Posted by armytiger96 on 5/29/26 at 2:53 am to Solo Cam
Deleted triple post
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