Homeless migration to RVs creating problems
There seems to be a trend for the homeless to get an old RV and live on the streets. County officials admit their hands are are tied as they do not have proper laws in place to deal with the problem....
Forum Discussion
Did you lose your pension due to your company you worked for 28 years went BK? Sorry to hear that. Been happening to a lot of people and more to come.
All the more reason to embrace the 401k, IRA etc plans that you can control and cannot be taken (yet).
Did you not pay into SS?
Yes, I paid dearly into SS. The current value of that account the day I retired (using confirmed models) was 1.3E6$us. Because I had no choice but to start collection sooner than planned, I only have to live to be about 118 to break even.
A large portion of those savings were put into a private plan that was largely auto-company corporate bonds. Corporate bonds used to be no more than an inflation hedge. Even in bankruptcies, those bonds were treated as real property - like I owned a building or a huge stamping press or something - and in the event of bankruptcy, there would be value after liquidation. Well, they couldn't just wipe them out like common stock, they decided that they could "buy" them from us at about 5¢/$. But, the filing fee to get that 5¢ was 3¢ and I would still have to pay the plan administrator to collect that. That was how they rewarded the union for their support.
I did collect some small pensions, but the laws about that were different than they are now for most of my working time. Vesting took decades and companies kept track and if you got too close to vesting, you would get "RIF"fed. (That means canned through no fault of your own and that is supposed to make you feel batter.) Then, you are a 60+ white technical guy that nobody dare hire because you don't help their "Diversity" at all. You just happen to have years of experience that they can use. So, they bring you on as a "consultant" and you may get a lot per hour, but hours are irregular and you have to pay all the taxes that an employer would pay (look that one up).
Not all my investment were lost, but I was counting on some land that we purchased (see above) and some other things.
We will still be traveling as long as I am capable of keeping the coach in good order. So, things are not as grim for us as may be for others that I know. I do my best to not sound bitter in my outside contacts.
All the more reason to embrace the 401k, IRA etc plans that you can control and cannot be taken (yet).
Did you not pay into SS?
Yes, I paid dearly into SS. The current value of that account the day I retired (using confirmed models) was 1.3E6$us. Because I had no choice but to start collection sooner than planned, I only have to live to be about 118 to break even.
A large portion of those savings were put into a private plan that was largely auto-company corporate bonds. Corporate bonds used to be no more than an inflation hedge. Even in bankruptcies, those bonds were treated as real property - like I owned a building or a huge stamping press or something - and in the event of bankruptcy, there would be value after liquidation. Well, they couldn't just wipe them out like common stock, they decided that they could "buy" them from us at about 5¢/$. But, the filing fee to get that 5¢ was 3¢ and I would still have to pay the plan administrator to collect that. That was how they rewarded the union for their support.
I did collect some small pensions, but the laws about that were different than they are now for most of my working time. Vesting took decades and companies kept track and if you got too close to vesting, you would get "RIF"fed. (That means canned through no fault of your own and that is supposed to make you feel batter.) Then, you are a 60+ white technical guy that nobody dare hire because you don't help their "Diversity" at all. You just happen to have years of experience that they can use. So, they bring you on as a "consultant" and you may get a lot per hour, but hours are irregular and you have to pay all the taxes that an employer would pay (look that one up).
Not all my investment were lost, but I was counting on some land that we purchased (see above) and some other things.
We will still be traveling as long as I am capable of keeping the coach in good order. So, things are not as grim for us as may be for others that I know. I do my best to not sound bitter in my outside contacts.
