like reagan use to say
there you go again
those congress folks are after us again
cant they leave us along
i know i know he said i wouldnt be touched
but
weve been here before
why cant they just do tax change stuff that
mainly affects all those rich folks like
the president
and
most of congress
back in the 90s this word popped up
on my radar
401k
my rainwater brother who is a certified financial planner
explained it all to me
of course
as he talked my eyes got real blurry
my mind started to wander
what the heck he is talking about
but
over time i read more about it
he talked to me more
i gradually started to understand it better
basically
i knew we couldnt live off social security
we needed more money
pension for teachers wasnt an issue at that time
since my wife she hadnt made that
i wanna be a teacher movement yet
it really didnt matter as it turns out
the teachers pension
since she is getting from the pension
what she lost from the social security that she earned
in the preteaching era and from my paying in it over the years
bottom line
teachers pension minus her would be social security equals zero
so i knew we needed more
investopedia.com
my rainwater brother finally got me to understand
how to do this
maximum how much you can put in in your 401k
so i did
make sure you put enough in to meet the match from
your employer
so i did
then
on the teacher side you have this thing called a 403b
just think of it like its a 401k
put as much in there as you can
i must add that most teachers dont make enough to put in
a 403b
very few do
so
over 25 years thats what we did
so when i had to quit and she retired
we have enough in our 401k/403b to live comfortably
when you add in our
well my social security
and her teachers pension
if that 401k had been not there
i am not sure all that incentive to make you save
make me save
would have been there
we would be hurting in retirement without it
so it is with a lot of folks
now
again
like i said the other day
this affects all of us
whether we are democratic republican independent
no matter our race
no matter our politic
no matter our religion
whether we are rich
whether we are poor
well
maybe not if we are rich
as this probably dont affect them much
so no matter your politics
you should be ticked at these congress people
trying to take this away from us
the only vehicle that many folks have to provide for
their retirement
i you are promised a pension by a company or government agency
be aware that some have stopped paying the pension
or greatly reduced it
so eg the texas teacher retirement doesnt give any
cost of living adjustment so thats their way of
reducing the payout
even then it can be reduced easily by a vote from
the legislature
we shouldnt let these folks do this to us
there are probably very few if any congress folks or cabinet members
or presidents or vice presidents that will be affected if they do
i think
congress if they want to cut things to save money
they might look at their own pocketbooks and financial statements
to find areas that really need to be cut
just leave us regular folks along
maybe we just need a regular folks movement
the organicgreen doctor
No comments:
Post a Comment