I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.....
@MayaPaisley-
Ай бұрын
I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes...
@FernandoBowen-78
Ай бұрын
@@MayaPaisley- That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well
@MayaPaisley-
Ай бұрын
@@FernandoBowen-78 My advisor is VICTORIA CARMEN SANTAELLA;
@MayaPaisley-
Ай бұрын
You can look her up online
@LiamOlivia-4
Ай бұрын
@@MayaPaisley- The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees that drain your portfolio. Is this the case with yours too?
@johnnyboyvan
7 ай бұрын
I retired last June with a good pension after teaching high school for 32 years. Amen 🙏 COLA adjusted.
@mikeklepper9734
8 жыл бұрын
These are very valuable points..... I never understood why pensions were not portable.
@kevinduran5305
8 жыл бұрын
Many states allow you to purchase pension credits in your 'new' state...You can use the money your previous state gave to you when you left to purchase the credits...
@kdkragt
7 ай бұрын
I wish you would do a video on Minnesota's teacher pension plan (TRA). The state board divided us into 2 tiers. Tier 2 is stuck funding tier 1 and tier 2 cannot collect until we turn 66 without huge penalties.
@OGtruthserum
4 ай бұрын
That blows! But it also based on the year you are born (allows you to work sooner), nothing you could really do about it.
@petercrowley1289
2 жыл бұрын
Not sure why transfers between states don't allow 'added years ' on transfer - should you lobby for a Federal law change?
@steveschramko2386
3 жыл бұрын
I've complained about this for years. There are SO many inequities....Then there's the government pension offset provision and windfall provisions that strip away additional earned retirement benefits for those who worked 10 years in social security qualifying employment. There's been talk about changing this for years and years....Guess what. It will NEVER happen. Teachers will end up getting screwed again. There will ALWAYS be some excuse.
@michaelnoffsinger9020
2 жыл бұрын
I’ve heard that there is a growing contingency of support for change…
@thomashall6937
4 жыл бұрын
Its not just teachers, Fire,Police and department of public works are also under the same rules. And let’s not forget the social security WEP
@zephead843
9 ай бұрын
Maybe, but the fastest growing segment of millionaires in America are retired cops, teachers, and firefighters. If that weren't the case we wouldn't be counting these folks in the millions.
@rickmaraj9492
3 жыл бұрын
There very specific accounts that deal with these issues! Most people don't know that your "pension" is an annuity. I have been working with teachers for over 15yrs now. You can buy a "pension/annuity" outside the "system" and get more benefits like the ability to grow your money, pass it on and have it liquid. You can never do these things in a "traditional" pension.
@justinjones6810
4 жыл бұрын
Here's the main point of you are not a government worker invest in grocery stores and garbage companies as your stock investment because even during this pandemic garbage was still picked up and grocery stores were still open
@DanielGennaro
3 жыл бұрын
Thanks for the tip bro
@alfredoaalvarado
2 ай бұрын
Went on your website. Didn’t see any solutions to these problems being presented. Did I miss them? Can anyone provide a link?
@ransomholbrook7428
3 жыл бұрын
This just now appeared on my stream. A couple of important important facts need to be addressed. 1) Pension is not an acurate term for us who live in Kentucky. Teacher's pay more than 12.5% of their salary into a retirement system every pay check. Rather you want to or not. 2) Just because the school year last 177 days for students, doesn't mean teachers work only 177 days. A recent survey here showed that teachers work on average 235 days, but only get paid for 185-190 days. All the actual time off, is no pay days. 3) I qualify for Social Security on top of Teacher Retirement because I started working when I was 14 years old, worked 10 years before I started teaching and was in the Army Reserve for 16 years while I was teaching. My Social Security was cut because of the "pension" to $222 per month.
@Manatti06
3 жыл бұрын
The military and Teacher retirement should be beneficial correct?
@chadsdadbrad
2 жыл бұрын
Does simply receiving a pension at all reduce social security earnings?
@ransomholbrook7428
2 жыл бұрын
@@chadsdadbrad If you draw money from a pension that didn't cut for Social Security, it counts against the SS you quailfy for.
@ransomholbrook7428
2 жыл бұрын
@@Manatti06 They are...however in my case, to retire from the Army Reserve you have to serve 20 years plus you don't start drawing benefits until you are 65.
@lionheart93
4 жыл бұрын
calstrs mission is to hold teachers interesting. I like to take control of my own money
@strokerace4765
3 жыл бұрын
This is pretty basic, I have a couple teacher friends that have taught in several states, what a mistake.
@equisequis.55
5 жыл бұрын
Do teachers get social security benefits?
@lionjwd
5 жыл бұрын
That depends. It is my understanding that a teacher working in a state where teachers contribute both to a state retirement plan and to Social Security, that person can receive benefits from both once he or she becomes eligible. Kentucky, California, parts of Texas and 12 other states opted out of paying into Social Security. Now a teacher can receive Social Security if he or she put enough quarters in, at the right time, if a teacher in the 15 states that opted out. I understand this is very hard to do. There may be ways for a teacher to receive Social Security benefits through a spouse or ex spouse, if married more than 10 years. There is no problem if the spouse is receiving Social Security benefits, and the teaching spouse is still working. Once the teaching spouse retires things change. I really can't explain it...something about a two thirds cut. Again this is in states that opted out of Social Security for teachers. It is my understanding that in states that teachers paid into Social Security and teacher retirement there is no problem. I retired from Probation and Parole in Kentucky in 1997, and started drawing my retirement immediately. I paid into Social Security and state retirement during the 20 years that I worked as a Probation and Parole Officer. I continued working and paying Social Security. I recently started drawing Social Security. It had no impact on my state retirement.
@BebbaDubbs
4 жыл бұрын
In California, if you began teaching 19-20 years ago or after, you are not able to collect your petition and more than 1/3 of your social security (or dead spouses) regardless of your SS Credits earns prior/after teaching. We don't pay into it. Only Medicare at my job.
@hrhtreeoflife4815
Жыл бұрын
@RWrwrwrwrwrw that's still 1/3 vs $0 if you didn't reach the 10 years = 40 credits.
@hisremnant9957
4 жыл бұрын
Current teacher pension plans are not the way to go PERIOD! Educators suffering financially have no way to access emergency funds unless their retiring or have been separated from the school system for 4 months.
@zephead843
9 ай бұрын
I doubt teachers- whoops!- educators are suffering. Have you ever seen a teachers living in a shelter, under a bridge, or in their Subaru Forrester?
@carlc1864
8 ай бұрын
All pensions work this way regardless of the segment. In private industry, the pension changes with the company change and similar result. In fact, pensions are almost nonexistent in the private sector. You should plan for your retirement as if a pension doesn’t exist and count it as gravy. Complaining is a failure to take personal responsibility.
@mysterio5837
Жыл бұрын
well well 24 yrs and im set for retirement an ddone with teaching
@davidvaninwagen9391
7 ай бұрын
My wife has had it with the stress. She loves teaching, but the stress is killing her inside. Still, after 20 years teaching in NH she doesn’t qualify to retire because of a “70” rule, and even if she did, she’d be lucky to be getting $600 a month for her pension. The retirement system for teachers is an absolute ripoff.
@aliciabryant3656
6 жыл бұрын
Why can't we cut the medical population. My daughter without a degree is an RN and makes $80,000 being on the job only 4 years. Oh yes, a hell if a lot since I have a PhD and do not come close. Medical professionals we need, but many are finding alternative care as their chose.
@gerrywisner6301
6 жыл бұрын
alicia bryant j
@cginetto
6 жыл бұрын
The "medical population" provides needed services. PhDs do not.
@Baker.Matthew
6 жыл бұрын
Onofrio Bacigalupo most “medicine” is a scam
@starlitopensky1
8 жыл бұрын
If a teacher deserves a pension, so does a McDonald's worker
@davidherman3824
7 жыл бұрын
You must be joking....
@antoniochiappetta4833
6 жыл бұрын
David Herman No, you must be joking.
@marks1865
6 жыл бұрын
The dummest comment I've heard.
@PreventClutter
5 жыл бұрын
A McDonald worker deserves to take responsibility for his own ass and make himself better. You can't compare the two. You failed because you picked that life. Go watch some Tony Robin videos and grow
@AnaLopez-gx7li
5 жыл бұрын
It is up to the Mc Donald corporation (business) to set up a pension plan for their employees. If they really wanted too. It is possible.
Пікірлер: 66