Even the teachers plan is under stress. There are something like 90 retired teachers over 100 years old now...so the comment from the CEO is that they need to increase yields to pay for changing life expectancy... well, that means more risk. So even if one of the flagship pension plans is feeling stress when they are not even at peak number of retirees...that leaves me very skeptical. How are they going to increase yields when the bulk of people are retiring? That said 40K indexed is more then enough to retire on.
At age 40, how much should the average person have in their retirement account?
- Thread starter poorboy
- Start date
Funny this is exactly the best scenario the actuaries in DB plan would love to see, the ideal way to solve the funding shortfalls and more importantly ballooning liabilities. No?
LOL. Good luck with that. Nobody could manage to achieve this feat.
Actually the better plan is to die owing tons... if you can find some bank stupid enough to give to credit lines... MAX IT UP!!!Funny this is exactly the best scenario the actuaries in DB plan would love to see, the ideal way to solve the funding shortfalls and more importantly ballooning liabilities. No?
LOL. Good luck with that. Nobody could manage to achieve this feat.
+1
re your earlier comment about live it up when you get older - I would rather live it up when my dick can still get hard without chemical help
Wow, are you serious? LOL... I just couldn't do that in good conscience.... going to settle down one of these days and have kids. Would like to ensure my future wife, kids, nephews and nieces are financially well off even once I kick the bucket.
For those who would like help figuring out how much saving they need to do, there are a lot of retirement calculators out there.
http://www.servicecanada.gc.ca/eng/isp/common/cricinfo.shtml
http://www.servicecanada.gc.ca/eng/isp/common/cricinfo.shtml
This coming from a guy that thinks cop are a-holes. I guess you have no family or care what friends think of you. If you owe tons you then pass on squatt to your family; nice legacy. Nuttyboi fucked everything, anything and everybody he could. Bubye!
You forget to mention he thinks the PM is an a-hole too.
Is this what we call Canadian Patriotism? Racism against white people?
Not me for sure but cannot tell for t-boy getting naughty or nutty.
BTW, don`t worry about those families. They inherit the same caliber and continue the "same legacy", namely robbing OPM and spending even more...for themselves.
Sounds like his mo is a symptom of a contagion called Pinko Kookism. No?
I help people when I am alive... not when I am dead. As usual you put words in my mouth, I have gone out of my way to say complimentary thing about police when they act with honour and courage. When they act like criminal you bet I think they are assholes...even worse then common criminals IMHO.
Political extremists for both the left and the right have no conscience whatsoever and it's all about me, me, me. Everything else, including the kids and SO are secondary.
That being said, between the nutty left and right, the left beat the right just a bit when it comes to no conscience.
Again these made no sense and sound like ancient Greek or Latin for those nut bars. Their mo are essentially seizing the government "peacefully", by force if necessary, then appropriating OPM by killing the golden geese and finally spending the precious resources like there's no tomorrow.
Rest assure any allocation of resources are not based on equality and fairness, but the cronyism within the new regime.
Do you guys really feel all broken up about screwing a bank? Unreal... after eveything that has happened in the last 2-3 years you still feel an obligation to make sure our banks are taken care off? Man, you guys are CHUMPS!!! No wonder they get away with sodomizing the public.Political extremists for both the left and the right have no conscience whatsoever and it's all about me, me, me. Everything else, including the kids and SO are secondary.
That being said, between the nutty left and right, the left beat the right just a bit when it comes to no conscience.
Again these made no sense and sound like ancient Greek or Latin for those nut bars. Their mo are essentially seizing the government "peacefully", by force if necessary, then appropriating OPM by killing the golden geese and finally spending the precious resources like there's no tomorrow.
Rest assure any allocation of resources are not based on equality and fairness, but the cronyism within the new regime.
Hmm...not so sure what you mean since many pension plans invest in the banks, Canada Big Six in particular. Is your debts up to your eyeballs lately and thus no money in retirement account??
Sounds like you are telling people to screw the banks by wrecking their nest eggs first. Maybe that's your vested interest since you state your mo is to max out LOC and die broke.
Did you get f*ck when they jack up the interest rates on your credit card outstanding balances and/or your HELOC due to your material deterioration on your FICO score?
I have no debts nor do I ever run a cc balance.....the banks will always get taken care off as they are too big to fail. The people that run the pension plans and banks are all largely the same community..and yes they will be fucking everyone that has a pension at some point. They have sold an empty promise of security... and will be well compensated and bonused along the road to fucking everyone in the end.Hmm...not so sure what you mean since many pension plans invest in the banks, Canada Big Six in particular. Is your debts up to your eyeballs lately and thus no money in retirement account??
Sounds like you are telling people to screw the banks by wrecking their nest eggs first. Maybe that's your vested interest since you state your mo is to max out LOC and die broke.
Did you get f*ck when they jack up the interest rates on your credit card outstanding balances and/or your HELOC due to your material deterioration on your FICO score?
Sure whatever that is.
But then what`s your alternatives? Transforming, supercharging CPP into Ponzi Plan, something the NDP and Liberals shill lately?
BTW, wouldn`t LSE takeover of TMX solve the problem of those community "fucking everyone" when the Bay Street is assumed to be hollowed out in the process? If so, how come I recall you are against the merger and trying to protect our own banksters here? Flip flopping?
It would be more efficient since the Govt is gonna have to bail out all the plans in the longer run anyway. They already blew 5B bailing out the GM pension plan.. so why GM and not Nortel? Also the Govt pension plans will be underfunded.. and then you have the problem of explaining why non-govt people have to be taxed to pay for ex govt... sooner or later a party will tap into the impending anger. We need a unified retirement plan... CPP should be expanded 2x. No opting out. That would be the best chance of providing a fair and decent retirement for Canadians.Sure whatever that is.
But then what's your alternatives? Transforming, supercharging CPP into Ponzi Plan, something the NDP and Liberals shill lately?
The people that run the CPP and banks are all largely the same community..and yes they will be fucking everyone that contribute to the CPP at some point. They have sold an empty promise of security... and will be well compensated and bonused along the road to fucking everyone in the end.
Sounds familiar to you, eh? No?
BTW, like TFSA, CPP is mis-named. CPP should never be set up as core pension plan and instead a supplement to people's savings. It's insane to have your own money to fund some John and Jane Does retirement.
Sounds like you jump up for joy as a pinko to share your wealth for somebody's retirement, somebody who have no qualms to burn your money asap.
You have no debt (loans, mortgage, LOC) and carry no CC balance, so how are you fucking the banks. They apparently don't care about you because you are of little importance to them.
