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#1441263 --- 03/24/14 02:35 PM Re: ARROGANT TEACHERS [Re: bluezone]
Formermac Offline
Silver Member

Registered: 10/22/12
Posts: 12857
Loc: Above ground
Originally Posted By: bluezone
Originally Posted By: Formermac
if any of us were able to invested $1666.00 a month toward our retirement, we would have approximately 200.000 grand in 10 years not to mention the rate of return added to it.


so give us a rough number you think one needs to have to retire at age 55?

$500,000
$1 million
$2 million
...
...
...


Again, you failed specifics Blue, do you live in dump or upscale home, do you eat at McDonalds or a 5 star restaurant? Do you stay home year around or travel extensively? Are your children prone to have only the capability to work at that same McDonalds or are they attending a University that cost $50,000 a year? Do they stay at home until they're 44 due to the fact that they lack a decent education thus minimizing their earning potential. Do you drive rusty pick up or a shiny new European SUV? ROTFLMAO, this sounds like that commercial where any small mistake turns into a catastrophic event like lying in a roadside ditch all beaten up.

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#1441265 --- 03/24/14 02:38 PM Re: ARROGANT TEACHERS [Re: tubby]
Formermac Offline
Silver Member

Registered: 10/22/12
Posts: 12857
Loc: Above ground
Originally Posted By: tubby
Originally Posted By: Formermac
Originally Posted By: bluezone
Originally Posted By: Formermac
Many perks are not given to employees just to be benevolent.
then why offer a pension to a 'teacher' if you do not give a pension to your own employees?

do you not value your employees?



LMAO, I give my employees a pension plan which I've stated a couple of time. Either you're good a patronizing people, have a comprehension problem or actually possess an mental deficiency, I'm trying my best to lean toward your comprehension level being somewhat on the anemic side. blush
. So you give your employees a pension plan, which means they retire with 80% of their salary and do not have to contribute any money, your an awesome employer .


Only fools(YOU) would assume that employees get "FREE" Health and 401K plans, have you heard the term employee contribution?
BTW,Yes I am an awesome employer. I'll assume that you were just being coy or sarcastic but just in case, educate yourself.


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#1441267 --- 03/24/14 02:42 PM Re: ARROGANT TEACHERS [Re: Formermac]
bluezone Offline
Diamond Member

Registered: 12/19/04
Posts: 32557
Loc: USA
Originally Posted By: Formermac
Originally Posted By: bluezone
Originally Posted By: Formermac
if any of us were able to invested $1666.00 a month toward our retirement, we would have approximately 200.000 grand in 10 years not to mention the rate of return added to it.


so give us a rough number you think one needs to have to retire at age 55?

$500,000
$1 million
$2 million
...
...
...


Again, you failed specifics


if a 'teacher' makes $50K then tell us how much the 'teacher' needs in their pension to retire at age 55?

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"OUR COUNTRY IS IN MOURNING, A SOLDIER DIED TODAY."

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#1441268 --- 03/24/14 02:47 PM Re: ARROGANT TEACHERS [Re: Formermac]
bluezone Offline
Diamond Member

Registered: 12/19/04
Posts: 32557
Loc: USA
Originally Posted By: Formermac
Only fools(YOU) would assume that employees get "FREE" Health and 401K plans, have you heard the term employee contribution?


you are aware that 'teachers' only pay 3% in for the first ten years and then after that they pay zero for their pension

must be why the 'teacher' union fought against cuomo change over to a 401k plan
_________________________
"OUR COUNTRY IS IN MOURNING, A SOLDIER DIED TODAY."

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#1441269 --- 03/24/14 02:48 PM Re: ARROGANT TEACHERS [Re: bluezone]
Formermac Offline
Silver Member

Registered: 10/22/12
Posts: 12857
Loc: Above ground
If Johnny had two apples and gave one orange to Betty, how many peaches would Steve have if he ate 3 cherries? Remember that all 7 had vegetables when they arrived at the park on a one seat bicycle.

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#1441270 --- 03/24/14 02:55 PM Re: ARROGANT TEACHERS [Re: Formermac]
bluezone Offline
Diamond Member

Registered: 12/19/04
Posts: 32557
Loc: USA
Originally Posted By: Formermac
BTW,Yes I am an awesome employer.


when you give your employees 12 months pay for 6 months of work, 5 day work weeks, full healthcare(vision, dental, health) for life, a full pension at age 55, and you can never terminate them even if they fail to perform

then you may get a gold star

1 week vacation does not make you an awesome employer
_________________________
"OUR COUNTRY IS IN MOURNING, A SOLDIER DIED TODAY."

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#1441271 --- 03/24/14 02:56 PM Re: ARROGANT TEACHERS [Re: Formermac]
tubby Offline
Senior Member

Registered: 03/12/08
Posts: 1341
Loc: N.Y.
You do not understand the difference between a 401k plan and a pension.

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#1441272 --- 03/24/14 02:57 PM Re: ARROGANT TEACHERS [Re: Formermac]
bluezone Offline
Diamond Member

Registered: 12/19/04
Posts: 32557
Loc: USA
Originally Posted By: Formermac
If Johnny

it is obvious you do not offer a pension because the government has set standards on how to implement those plans and you are not aware of the basic rules
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"OUR COUNTRY IS IN MOURNING, A SOLDIER DIED TODAY."

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#1441274 --- 03/24/14 03:04 PM Re: ARROGANT TEACHERS [Re: bluezone]
bluezone Offline
Diamond Member

Registered: 12/19/04
Posts: 32557
Loc: USA
Originally Posted By: Formermac
if any of us were able to invested $1666.00 a month toward our retirement, we would have approximately 200.000 grand in 10 years not to mention the rate of return added to it.


$276,328.98

could you retire on $276,328.98?
_________________________
"OUR COUNTRY IS IN MOURNING, A SOLDIER DIED TODAY."

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#1441276 --- 03/24/14 03:08 PM Re: ARROGANT TEACHERS [Re: tubby]
bluezone Offline
Diamond Member

Registered: 12/19/04
Posts: 32557
Loc: USA
Originally Posted By: tubby
You do not understand the difference between a 401k plan and a pension.


he only offers his employees a 401k because he wants to stay in his upperclass neighborhood and also keep all his rental properties

whistle

do not forget he gives them 1 week vacation after a year
he must think they do not work hard enough the entire year
_________________________
"OUR COUNTRY IS IN MOURNING, A SOLDIER DIED TODAY."

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#1441277 --- 03/24/14 03:11 PM Re: ARROGANT TEACHERS [Re: bluezone]
Formermac Offline
Silver Member

Registered: 10/22/12
Posts: 12857
Loc: Above ground
Originally Posted By: bluezone
Originally Posted By: Formermac
if any of us were able to invested $1666.00 a month toward our retirement, we would have approximately 200.000 grand in 10 years not to mention the rate of return added to it.


$276,328.98

could you retire on $276,328.98?





I can see that you were not a mathematic major.

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#1441278 --- 03/24/14 03:16 PM Re: ARROGANT TEACHERS [Re: Formermac]
bluezone Offline
Diamond Member

Registered: 12/19/04
Posts: 32557
Loc: USA
Originally Posted By: Formermac
I can see that you were not a mathematic major.


you disagree with the number?
if so, tell us what you have then
_________________________
"OUR COUNTRY IS IN MOURNING, A SOLDIER DIED TODAY."

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#1441288 --- 03/24/14 03:49 PM Re: ARROGANT TEACHERS [Re: Formermac]
Formermac Offline
Silver Member

Registered: 10/22/12
Posts: 12857
Loc: Above ground
$1666 a month X 12 months = 19992 a year X 10 years= 199920 over 10 year period




your figure $276,328.98

Your math is giving a net interest return of $76408.98
But tell me where you derive the interest rate over a 10 year period? or as you normally display, a lot of numbers thrown up in the air and where they fall only Blue knows.

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#1441289 --- 03/24/14 03:53 PM Re: ARROGANT TEACHERS [Re: Formermac]
bluezone Offline
Diamond Member

Registered: 12/19/04
Posts: 32557
Loc: USA
Originally Posted By: Formermac
Originally Posted By: bluezone
Originally Posted By: Formermac
we would have approximately 200.000 grand in 10 years not to mention the rate of return added to it.


$276,328.98

could you retire on $276,328.98?

I can see that you were not a mathematic major.


see the words in red
_________________________
"OUR COUNTRY IS IN MOURNING, A SOLDIER DIED TODAY."

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#1441290 --- 03/24/14 03:57 PM Re: ARROGANT TEACHERS [Re: Formermac]
bluezone Offline
Diamond Member

Registered: 12/19/04
Posts: 32557
Loc: USA
Originally Posted By: Formermac
$1666 a month X 12 months = 19992 a year X 10 years= 199920 over 10 year period




your figure $276,328.98

Your math is giving a net interest return of $76408.98
But tell me where you derive the interest rate over a 10 year period?

Worksheet # 1. How much will my investment be worth?

Interest 7.00
Number of periods 10
Amount of each investment $20,000.00
Initial value* $0.01
Total payments $200,000.01
Total interest $76,328.97
Total value of investment $276,328.98
_________________________
"OUR COUNTRY IS IN MOURNING, A SOLDIER DIED TODAY."

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#1441291 --- 03/24/14 04:04 PM Re: ARROGANT TEACHERS [Re: Formermac]
bluezone Offline
Diamond Member

Registered: 12/19/04
Posts: 32557
Loc: USA
Originally Posted By: Formermac
I can see that you were not a mathematic major.


are you sure?
_________________________
"OUR COUNTRY IS IN MOURNING, A SOLDIER DIED TODAY."

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#1441304 --- 03/24/14 04:24 PM Re: ARROGANT TEACHERS [Re: bluezone]
Formermac Offline
Silver Member

Registered: 10/22/12
Posts: 12857
Loc: Above ground
Originally Posted By: bluezone
Originally Posted By: Formermac
I can see that you were not a mathematic major.


are you sure?


I'm positive for one big reason, you don't have to ability to unilateral make up your own rate, it's more appropriate to add a rate based on a mutually debated equation or show me in past posting that this was an agreed equation. Realistically 7% is rather high in today's market but for the sake of argument I have in past time received a ROR in the 15% neighborhood. Now to your question, can I live off $278,000 for the rest of my life? yep! if I live only 3 more years. In another person's scenario, it may last 10 or 15 years. My other question, hypothetically where is all this math headed in relationship to a teacher's pension? Your fact and figures are all hypothetical and is in dire need of factual numbers, which you seem to negate all together.

https://www.edwardjones.com/en_US/market/rates/current_rates/index.html

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#1441311 --- 03/24/14 04:52 PM Re: ARROGANT TEACHERS [Re: Formermac]
tubby Offline
Senior Member

Registered: 03/12/08
Posts: 1341
Loc: N.Y.
www.seethroughny.net Easy math even for you. Teacher retires at 55 years old. Ten years ago no contribution now 3% from the teacher to their pension plan. Lives another 30 years at 80% of their salary as pension typically about $60,000 a year = $1,800,0000. With zero or 3% contribution a teacher has $1,800,000 for retirement how does your 401k plan compare to that ?

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#1441312 --- 03/24/14 04:53 PM Re: ARROGANT TEACHERS [Re: Formermac]
bluezone Offline
Diamond Member

Registered: 12/19/04
Posts: 32557
Loc: USA
Originally Posted By: Formermac
Realistically 7% is rather high in today's market


the 'teachers' pension system is based on 7% return year over year for a basis
_________________________
"OUR COUNTRY IS IN MOURNING, A SOLDIER DIED TODAY."

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#1441323 --- 03/24/14 05:13 PM Re: ARROGANT TEACHERS [Re: tubby]
bluezone Offline
Diamond Member

Registered: 12/19/04
Posts: 32557
Loc: USA
Originally Posted By: tubby
their salary as pension typically about $60,000 a year = $1,800,0000. With zero or 3% contribution a teacher has $1,800,000 for retirement how does your 401k plan compare to that ?


Formermac - you do realize that YOU would have to put aside $1,666 each month into your 401k for 30 years to have $1,800,000

$1,666 x 12 month = $19992

if you go back to the post where I mentioned that your employee would have to put $20,000 aside each year for their retirement and you said is was not possible
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"OUR COUNTRY IS IN MOURNING, A SOLDIER DIED TODAY."

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