In article ,
says...

On Fri, 10 Aug 2012 08:18:15 -0400, X ` Man
wrote:

On 8/10/12 8:12 AM, BAR wrote:
In article ,
says...

Simple minded guy.

Get used to it. Lots of Gen X and millennial will be saying this when
the cost of those entitlements start showing up on their W-2

I am 51 and I have planned my retirement to not expect any government
handouts.


There's always the hope you'll be wiped out by more shenanigans on Wall
Street. Then you can start a new career as a Wal-Mart greeter, thus
proving the validity of the Peter Principle.

Harry, What's your plan, when the financial system crashes?
I bet your union pension is invested in Wall Street too.
Where are your personal investments?

Harry is the perfect example of the desire to perpetuate the nanny
state. I am in a position not to be a burden on society, my children,
the rest of my family and all Harry can say is that he hopes I am wiped
out.

Through several quirks of fate, I have very little of my retirement
income or assets in the "market." The defined benefit pension I have
from my nearly 40 years of union membership *is* decent and is at least
partially invested in the market, but the pension fund has diverse
holdings, and the last time I looked was worth substantially more than
it was during the Bush crash. I used to be a pension fund director and
when I was I kept a close watch because of my fiduciary liability, but I
(gladly) gave up that office when my last elected term was coming to a
close. The fund needed young blood. The fund's rules do not permit
unfunded liabilities, not even a dollar's worth.


Your assumption is that the pension will exist in a couple of years. Ask
the guys at the many union funded pension plans that had to be taken
over by the PBGC? Make sure your bookmark www.pbgc.gov.

I have a decent amount of cash at interest and in money market funds,
and I am a one-third partner in a nice, fully leased out strip shopping
mall in Connecticut. My two partners are two years older than I am, and
we are planning to sell the mall at some point in the not too distant
future. We all have adult children and young grandchildren, and all of
us are planning to leave most of what we have to them after our needs
and the needs of our spouses are met.

Cash is not an investment. In most cases cash is a depreciating asset.

You hope your "strip mall" stays fully leased. If the hard times persist
then your "strip mall" may become a liability.

I'm "maxed" in the Social Security benefit.

What does that mean? Quite a few people these days are maxed or near
maxed.

When the financial system crashes, I'll probably be under ground. Until
then, I have the liquidity to survive and when we sell the mall, I'll
figure out the best way to keep my share of the resulting cash safe.

Underground or under water? Do you have a custom bunker or are you
assuming your current dwelling will suffice, continuing to live in the
basement of your landlord's property?

I don't trust Wall Street. Not any of it.

In article ,
says...

On Fri, 10 Aug 2012 13:09:03 -0400, X ` Man
wrote:

On 8/10/12 12:47 PM, wrote:

Harry, What's your plan, when the financial system crashes?
I bet your union pension is invested in Wall Street too.
Where are your personal investments?


Through several quirks of fate, I have very little of my retirement
income or assets in the "market." The defined benefit pension I have
from my nearly 40 years of union membership *is* decent and is at least
partially invested in the market, but the pension fund has diverse
holdings, and the last time I looked was worth substantially more than
it was during the Bush crash. I used to be a pension fund director and
when I was I kept a close watch because of my fiduciary liability, but I
(gladly) gave up that office when my last elected term was coming to a
close. The fund needed young blood. The fund's rules do not permit
unfunded liabilities, not even a dollar's worth.

I have a decent amount of cash at interest and in money market funds,
and I am a one-third partner in a nice, fully leased out strip shopping
mall in Connecticut. My two partners are two years older than I am, and
we are planning to sell the mall at some point in the not too distant
future. We all have adult children and young grandchildren, and all of
us are planning to leave most of what we have to them after our needs
and the needs of our spouses are met.

I'm "maxed" in the Social Security benefit.

When the financial system crashes, I'll probably be under ground. Until
then, I have the liquidity to survive and when we sell the mall, I'll
figure out the best way to keep my share of the resulting cash safe.

I don't trust Wall Street. Not any of it.

You are more deeply invested in Wall Street than you want to admit. I
have a lot of cash right now too but I know I am barely keeping even
with inflation even at the best return. Most is actually losing money.
I am scared of the market right now because of all of this election
confusion and war talk but when it crashes I will do some bottom
feeding.
I did fine after the 2009 problems.

Look at Cardinal Bank in Virginia, they offer a pretty good interest
rate on checking accounts.

On 8/10/2012 7:17 PM, BAR wrote:


Through several quirks of fate, I have very little of my retirement
income or assets in the "market." The defined benefit pension I have
from my nearly 40 years of union membership *is* decent and is at least
partially invested in the market, but the pension fund has diverse
holdings, and the last time I looked was worth substantially more than
it was during the Bush crash. I used to be a pension fund director and
when I was I kept a close watch because of my fiduciary liability, but I
(gladly) gave up that office when my last elected term was coming to a
close. The fund needed young blood. The fund's rules do not permit
unfunded liabilities, not even a dollar's worth.


Your assumption is that the pension will exist in a couple of years. Ask
the guys at the many union funded pension plans that had to be taken
over by the PBGC? Make sure your bookmark www.pbgc.gov.

I have a decent amount of cash at interest and in money market funds,
and I am a one-third partner in a nice, fully leased out strip shopping
mall in Connecticut. My two partners are two years older than I am, and
we are planning to sell the mall at some point in the not too distant
future. We all have adult children and young grandchildren, and all of
us are planning to leave most of what we have to them after our needs
and the needs of our spouses are met.

Cash is not an investment. In most cases cash is a depreciating asset.

You hope your "strip mall" stays fully leased. If the hard times persist
then your "strip mall" may become a liability.

I'm "maxed" in the Social Security benefit.

What does that mean? Quite a few people these days are maxed or near
maxed.

When the financial system crashes, I'll probably be under ground. Until
then, I have the liquidity to survive and when we sell the mall, I'll
figure out the best way to keep my share of the resulting cash safe.

Underground or under water? Do you have a custom bunker or are you
assuming your current dwelling will suffice, continuing to live in the
basement of your landlord's property?

I don't trust Wall Street. Not any of it.




Ha, krause has quite an imagination...

On 8/10/12 7:04 PM, BAR wrote:
In article ,
says...

On Fri, 10 Aug 2012 08:18:15 -0400, X ` Man
wrote:

On 8/10/12 8:12 AM, BAR wrote:
In article ,
says...

Simple minded guy.

Get used to it. Lots of Gen X and millennial will be saying this when
the cost of those entitlements start showing up on their W-2

I am 51 and I have planned my retirement to not expect any government
handouts.


There's always the hope you'll be wiped out by more shenanigans on Wall
Street. Then you can start a new career as a Wal-Mart greeter, thus
proving the validity of the Peter Principle.

Harry, What's your plan, when the financial system crashes?
I bet your union pension is invested in Wall Street too.
Where are your personal investments?

Harry is the perfect example of the desire to perpetuate the nanny
state. I am in a position not to be a burden on society, my children,
the rest of my family and all Harry can say is that he hopes I am wiped
out.


You are lacking compassion.

--
I'm a liberal because the militant fundamentalist ignorant
science-denying religious xenophobic corporate oligarchy of modern
Republican conservatism just doesn't work for me or my country.

Eisboch wrote:


"X ` Man" wrote in message
m...


I don't trust Wall Street. Not any of it.

----------------------------------------------------------

This may sound harsh, but there was a time when Wall Street was only
for those who could afford to lose their investments.

When programs like 401K plans came along and suddenly everyone had the
opportunity to invest, the **** hit the fan.
Instead of calculated risk investments, they became "retirement plans".

I have never, ever considered Wall Street investments, either
privately invested or via a 401K type plan ... a retirement fund or plan.

In fact, I have never participated in a 401K plan period, even when I
had a company that offered one with company contributions.






Why not? You could have always directed those contributions into a
money market account and banked the 30%, or whatever, your employer was
matching in the good old days.

BAR wrote:
Through several quirks of fate, I have very little of my retirement
income or assets in the "market." The defined benefit pension I have
from my nearly 40 years of union membership *is* decent and is at least
partially invested in the market, but the pension fund has diverse
holdings, and the last time I looked was worth substantially more than
it was during the Bush crash. I used to be a pension fund director and
when I was I kept a close watch because of my fiduciary liability, but I
(gladly) gave up that office when my last elected term was coming to a
close. The fund needed young blood. The fund's rules do not permit
unfunded liabilities, not even a dollar's worth.

Your assumption is that the pension will exist in a couple of years. Ask
the guys at the many union funded pension plans that had to be taken
over by the PBGC? Make sure your bookmark www.pbgc.gov.

I have a decent amount of cash at interest and in money market funds,
and I am a one-third partner in a nice, fully leased out strip shopping
mall in Connecticut. My two partners are two years older than I am, and
we are planning to sell the mall at some point in the not too distant
future. We all have adult children and young grandchildren, and all of
us are planning to leave most of what we have to them after our needs
and the needs of our spouses are met.
Cash is not an investment. In most cases cash is a depreciating asset.

You hope your "strip mall" stays fully leased. If the hard times persist
then your "strip mall" may become a liability.


I'm sure it has 100% occupancy at rates 20% higher than anywhere else in
the area due to it's fantastic location.

On 8/10/12 9:49 PM, Earl wrote:
BAR wrote:
Through several quirks of fate, I have very little of my retirement
income or assets in the "market." The defined benefit pension I have
from my nearly 40 years of union membership *is* decent and is at least
partially invested in the market, but the pension fund has diverse
holdings, and the last time I looked was worth substantially more than
it was during the Bush crash. I used to be a pension fund director and
when I was I kept a close watch because of my fiduciary liability,
but I
(gladly) gave up that office when my last elected term was coming to a
close. The fund needed young blood. The fund's rules do not permit
unfunded liabilities, not even a dollar's worth.

Your assumption is that the pension will exist in a couple of years. Ask
the guys at the many union funded pension plans that had to be taken
over by the PBGC? Make sure your bookmark www.pbgc.gov.

I have a decent amount of cash at interest and in money market funds,
and I am a one-third partner in a nice, fully leased out strip shopping
mall in Connecticut. My two partners are two years older than I am, and
we are planning to sell the mall at some point in the not too distant
future. We all have adult children and young grandchildren, and all of
us are planning to leave most of what we have to them after our needs
and the needs of our spouses are met.
Cash is not an investment. In most cases cash is a depreciating asset.

You hope your "strip mall" stays fully leased. If the hard times persist
then your "strip mall" may become a liability.


I'm sure it has 100% occupancy at rates 20% higher than anywhere else in
the area due to it's fantastic location.

We had two vacancies for some months during the Bush Recession, but
we're done to one now. It's in a good location, for sure. Lots of traffic.


--
I'm a liberal because the militant fundamentalist ignorant
science-denying religious xenophobic corporate oligarchy of modern
Republican conservatism just doesn't work for me or my country.

In article , earl11875
@hotmail.com says...

Eisboch wrote:


"X ` Man" wrote in message
m...


I don't trust Wall Street. Not any of it.

----------------------------------------------------------

This may sound harsh, but there was a time when Wall Street was only
for those who could afford to lose their investments.

When programs like 401K plans came along and suddenly everyone had the
opportunity to invest, the **** hit the fan.
Instead of calculated risk investments, they became "retirement plans".

I have never, ever considered Wall Street investments, either
privately invested or via a 401K type plan ... a retirement fund or plan.

In fact, I have never participated in a 401K plan period, even when I
had a company that offered one with company contributions.






Why not? You could have always directed those contributions into a
money market account and banked the 30%, or whatever, your employer was
matching in the good old days.

With Eisboch it is a matter of control, he can't let anybody else
interfere with his direct control.

In article ,
says...

On Fri, 10 Aug 2012 19:17:56 -0400, BAR wrote:

Look at Cardinal Bank in Virginia, they offer a pretty good interest
rate on checking accounts.

Money in the bank is always slow bleeding. Inflation will eventually
eat up any profits you would ever see.

You can get 2% up to $100,000.