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JoeJustJoe
Banned
Posts: 21045
Registered: 9-9-2010
Location: Occupied Aztlan
Member Is Offline
Mood: Mad as hell
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Quote: Originally posted by Hook  | I'm always amazed when people decry government workers making a decent wage and having a decent pension, compared to persons in private industry.
It wasn't very long ago when just the opposite was true. What's changed?
What changed is that government jobs are service oriented jobs that cant be shipped overseas. Private industry jobs involve manufacturing and selling
goods and they shipped those overseas. Then the remaining jobs, they stripped of decent benefit programs. Now, corporations sit on these huge piles of
cash, paying out exorbitant wages to execs and buying back company stock, instead of investing in America. Wages, overall, continue to drop.
Government workers retirements only look excessive in the light of how poorly private industry retirements look.
And people wonder why the economy can't get going like it was in the 50s-60s-70s.
American corporate greed happened. Don't blame government workers because no one has figured out a way to ship teachers and first responders jobs
overseas.
Now, there is this belief that because corporations screwed their employees out of retirements, why shouldn't government screw their employees out of
pensions, too. Why shouldn't everyone be screwed together?
And people wonder why the economy can't get going like it was in the 50s-60s-70s.
Apparently, JoeJustJoe is also not aware that there are INDEPENDENT financial planners that sell no products.
I am continually bemused by how ignorant JJJ is about so many of the things he rails about.
[Edited on 9-26-2016 by Hook] |
Hook is only partially right why the tables have turns for government workers, who used to have low paying government jobs, but always had good
benefits, and job protection from being fired.
Yes, many jobs manufacturing jobs did go overseas where US corporations can get away with paying near slave wages with little to no benefits, but
something else has been going on over the years, and that's the destruction of company unions by powerful companies that spend millions of dollars on
anti-union activities, and anti-union propaganda on workers at such places like Walmart, where unbelievably, the workers routinely workers vote
against their best interests and vote no to the union.
The US government doesn't play that type of hardball, and for the most part, unions membership is very high with government workers, and that's why
government workers have pretty good paychecks, and extremely good benefits.
On average, a union worker will make about $3 or $4 dollars more an hour than non-union workers, and the benefits are not even close when you compare
a union worker to a non-union worker's benefits, especially in regards to a pension. ( the private non-union sector has just about done away with
workers pensions in most industries)
I'm not one to really bash government workers, like teachers, firemen, or pig cops, because they have a good paycheck and an extremely good benefits
and pensions that allow them to retire early.
The only thing I said, is don't ask me to feel sorry for a school teacher,with two pensions, and is double-dipping in social security. although in
many cases they did have a first job where did they contribute to social security. ( I rather feel sorry for the homeless)
Yes, Hook, I'm aware of INDEPENDENT financial planners that sell no products, but the thing about independent financial planners, is that sell no
products, have high fee that they charge before or right after they give you that supposedly independent financial advice.
So that probably eliminates the majority of "Baja Nomad' members, who may be reaching retirement age but are lucky to have $50,000 dollars in a 401K
and a few thousand dollars in equity in their house.
Do you really expect these people to pay about $1000 dollars for a two hour one time consultation and up to $6000 dollars a year for a yearly for a
two-part annual retainer plan that in the end will probably steer you to their friends in the same financial consulting trade. It's all a racket.
Oh their financial friends, won't rip you off either, with a churn and burn, but rather they will take a flat fee of only 2 percent of your investment
monies. Of course if you only have $50,000 dollars, they are going to laugh at you and kick you out of the office.
I wish I could tell people to avoid going to financial planners, because most people will get bad financial advice, and those advisers usually put
their interests first regardless of the hat they wear or title they give themselves, but sadly most people are such poor investors, that they do need
help.
[Edited on 9-26-2016 by JoeJustJoe]
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DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
Member Is Offline
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Ain't many nurses with purses hangin' around in Anthony's.
"YOU CAN'T LITTER ALUMINUM"
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Martyman
Super Nomad
Posts: 1904
Registered: 9-10-2004
Member Is Offline
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[rquote=1049909&tid=84054&author=JoeJustJoe
Yes, Hook, I'm aware of INDEPENDENT financial planners that sell no products, but the thing about independent financial planners, is that sell no
products, have high fee that they charge before or right after they give you that supposedly independent financial advice.
So that probably eliminates the majority of "Baja Nomad' members, who may be reaching retirement age but are lucky to have $50,000 dollars in a 401K
and a few thousand dollars in equity in their house.
Do you really expect these people to pay about $1000 dollars for a two hour one time consultation and up to $6000 dollars a year for a yearly for a
two-part annual retainer plan that in the end will probably steer you to their friends in the same financial consulting trade. It's all a racket.
Oh their financial friends, won't rip you off either, with a churn and burn, but rather they will take a flat fee of only 2 percent of your investment
monies. Of course if you only have $50,000 dollars, they are going to laugh at you and kick you out of the office.
I wish I could tell people to avoid going to financial planners, because most people will get bad financial advice, and those advisers usually put
their interests first regardless of the hat they wear or title they give themselves, but sadly most people are such poor investors, that they do need
help.
[Edited on 9-26-2016 by JoeJustJoe][/rquote]
Good advice Joe. There are a lot of financial planners that take advantage of people who know nothing about investing, and proceed to nickel and
dime everything away. I guess some can afford the 2-3% fees. Not me!
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bajaguy
Elite Nomad
Posts: 9247
Registered: 9-16-2003
Location: Carson City, NV/Ensenada - Baja Country Club
Member Is Offline
Mood: must be 5 O'clock somewhere in Baja
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It appears that you might be dealing with the wrong financial planners
As with everything, especially when dealing with (your) money, do your due diligence.
We started seeing a FP about 15 years ago and with the investment strategy and options she suggested we were able to (both) retire, pay off our US
house, get a place in Baja, live comfortably......and continue to make money. We have no financial needs and can go where we want and do what we want
It's all about choices.......if you think you know more than a professional financial planner, more power to you
| Quote: Originally posted by Martyman | [rquote=1049909&tid=84054&author=JoeJustJoe
Yes, Hook, I'm aware of INDEPENDENT financial planners that sell no products, but the thing about independent financial planners, is that sell no
products, have high fee that they charge before or right after they give you that supposedly independent financial advice.
So that probably eliminates the majority of "Baja Nomad' members, who may be reaching retirement age but are lucky to have $50,000 dollars in a 401K
and a few thousand dollars in equity in their house.
Do you really expect these people to pay about $1000 dollars for a two hour one time consultation and up to $6000 dollars a year for a yearly for a
two-part annual retainer plan that in the end will probably steer you to their friends in the same financial consulting trade. It's all a racket.
Oh their financial friends, won't rip you off either, with a churn and burn, but rather they will take a flat fee of only 2 percent of your investment
monies. Of course if you only have $50,000 dollars, they are going to laugh at you and kick you out of the office.
I wish I could tell people to avoid going to financial planners, because most people will get bad financial advice, and those advisers usually put
their interests first regardless of the hat they wear or title they give themselves, but sadly most people are such poor investors, that they do need
help.
[Edited on 9-26-2016 by JoeJustJoe][/rquote]
Good advice Joe. There are a lot of financial planners that take advantage of people who know nothing about investing, and proceed to nickel and
dime everything away. I guess some can afford the 2-3% fees. Not me!
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ncampion
Super Nomad
Posts: 1238
Registered: 4-15-2006
Location: Loreto
Member Is Offline
Mood: Retired and Loving it
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When you talk about how great government pay, benefits and pensions are compared to private industry you have to remember that the Government is
currently almost $20 trillion in debt. They borrow money every month to pay those great benefits. No private company could get away with that. Someday
that will come crashing down on the Government as well.
Living Large in Loreto. Off-grid and happy.
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