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/biz/ - Business & Finance

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22214874 No.22214874 [Reply] [Original]

My parents insist that pensions are the way to go. That feels like boomer logic that made sense in the 80's and 90's but no longer is applicable to the economy. What do you think?

>> No.22214940

>>22214874
sure, if you can get one

>> No.22215068

Pensions are a myth

>> No.22215130
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22215130

>>22214874
Did you ask your parents why if they think they have it all figured out they're still poor?

>> No.22215178

>>>/pol/
and it didn't even made sense in the 19th century. A pyramid scam stays a pyramid scam

>> No.22215276

>>22214940
>>22215068
Government jobs.

>>22215130
They aren't quite poor.

>>22215178
See private pensions are definitely a pyramid scheme when they can fold any minute.

>> No.22215418
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22215418

>>22215276
Do they still have to work to make money, or can they live off their capital? If they still have to work, they are poor.

>> No.22215451

>>22215418
They live off of their pensions.

>> No.22215631

My dad works in a skilled trade and was a union member for 25ish years. Pension is $2200/month. Combined with social security my parents get over $5k per month. Also live in flyover nowhere so that's comfy as fuck. Pensions seem pretty based to me.

>> No.22215751
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22215751

>>22215451
And did they get their pensions in their 20s, or did they have to work their lives for them?

>> No.22215835

>>22215276
government jobs are moving away from the pension system. they're legacy agreements for people hired before a certain date in certain cases.

>> No.22215844

>>22215631
I don't think they'll be there for us desu. Flyover country or pensions.

>>22215751
They weren't born rich and didn't win the lottery, what are you even trying to say?

>> No.22215994
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22215994

>>22215844
This is an anti-wagecucking board and no one here is dumb enough to waste their lives in a job until they're old. You have to go back.

>> No.22216086

>>22214874
dunno, i cant park my yacht in my jacuzzi with pension

>> No.22216131

>>22215994
And aside from speculative gambling or being lucky enough to have a skill that pays at least seven figures a year how do you propose that one acquires sufficient capital to live on for the rest of their lives in their 20's? Trust fund babies need not answer.

>> No.22216415

>>22216086
True but I'm guessing you aren't doing that anyway.

>> No.22216602

>>22215276
government pensions aren't? lel
With public debt at an average of 200%, public pensions falling into the 30% Gibs of gdp a year and holes in the pension systems as big as whole countries gdps. I repeat my self, a pyramid scheme stays a pyramid scheme. Governments and political systems have never been build to last infinite, even less if they bas their legitimacy on scams

>> No.22216637

>>22216602
federal government pensions are solid (currency will be debased before they scam employees like that). State government pensions are about to fold.

>> No.22216735

>>22216637
okay zoomer.

>> No.22216807

When I retire there will be no social security, pensions, 401ks will have been even more cucked at matches will be like .5%.

>> No.22216867

>>22216807
>He doesn't regularly plunder his 401k to remove more capital from the pension system and have it crash sooner and triple his funds investing in something useful, instead of Boomers
ngmi

>> No.22217807

>>22214874
The world will have become one with an omnipotent ASI in a couple of decades. What the fuck do you think your boomerfund and it's 3.5% average annual returns will matter at that point? Invest in companies that can pivot and scale. The world will change more and more each year and new technological innovations will pop up at an ever increasing pace. You need to start thinking "how relevant will this company potentially be in 10 years".