Guest guest Posted December 18, 2011 Report Share Posted December 18, 2011 Considering the level of government spending which is occurring versus present and projected tax revenues and economic activity, one just wonders how much longer our government can " Pretend and Extend " . From ZeroHedge, here are 50 economic numbers about the US that are " almost too crazy to believe " . http://www.zerohedge.com/news/50-economic-numbers-about-us-are-almost-too-crazy-\ believe I would encourage everyone to read this article (and a myriad of other articles related to the present economic issues) to understand the dilemma we face. In short, our economic position as a nation and our economic positions as physical therapists are simply unsustainable, given the present circumstances and course of events. Given these circumstances, I'd be interested in hearing from folks as to the following: 1) At what age would you like to retire? 2) At what age do you think you can realistically or will have to realistically retire? 3) Do you have a defined benefit or defined contribution retirement plan, are you counting on a spouse's retirement plan, or what other retirement options do you have (i.e. pension from previous occupation, inheritance, Social Security, etc.)? 4) Do you feel you will achieve your financial goals for retirement by your desired age of retirement? These thoughts have come about from looking at the average salaries earned by physical therapists and looking at one of the retirement programs endorsed by the APTA and realizing that it is highly improbable that most physical therapists would be able to retire at a level above a low income or poverty level using those programs. I'd be interested in hearing others' thoughts. , PT, OCS Marquette, MI Senate Passes Bill Per an APTA email, the Senate bill does extend the therapy cap exception process for the first months of 2012 in addition to halting the 27.4% payment reduction. Rick Gawenda, PT President Gawenda Seminars & Consulting, Inc. www.gawendaseminars.com Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 18, 2011 Report Share Posted December 18, 2011 Considering the level of government spending which is occurring versus present and projected tax revenues and economic activity, one just wonders how much longer our government can " Pretend and Extend " . From ZeroHedge, here are 50 economic numbers about the US that are " almost too crazy to believe " . http://www.zerohedge.com/news/50-economic-numbers-about-us-are-almost-too-crazy-\ believe I would encourage everyone to read this article (and a myriad of other articles related to the present economic issues) to understand the dilemma we face. In short, our economic position as a nation and our economic positions as physical therapists are simply unsustainable, given the present circumstances and course of events. Given these circumstances, I'd be interested in hearing from folks as to the following: 1) At what age would you like to retire? 2) At what age do you think you can realistically or will have to realistically retire? 3) Do you have a defined benefit or defined contribution retirement plan, are you counting on a spouse's retirement plan, or what other retirement options do you have (i.e. pension from previous occupation, inheritance, Social Security, etc.)? 4) Do you feel you will achieve your financial goals for retirement by your desired age of retirement? These thoughts have come about from looking at the average salaries earned by physical therapists and looking at one of the retirement programs endorsed by the APTA and realizing that it is highly improbable that most physical therapists would be able to retire at a level above a low income or poverty level using those programs. I'd be interested in hearing others' thoughts. , PT, OCS Marquette, MI Senate Passes Bill Per an APTA email, the Senate bill does extend the therapy cap exception process for the first months of 2012 in addition to halting the 27.4% payment reduction. Rick Gawenda, PT President Gawenda Seminars & Consulting, Inc. www.gawendaseminars.com Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 18, 2011 Report Share Posted December 18, 2011 Considering the level of government spending which is occurring versus present and projected tax revenues and economic activity, one just wonders how much longer our government can " Pretend and Extend " . From ZeroHedge, here are 50 economic numbers about the US that are " almost too crazy to believe " . http://www.zerohedge.com/news/50-economic-numbers-about-us-are-almost-too-crazy-\ believe I would encourage everyone to read this article (and a myriad of other articles related to the present economic issues) to understand the dilemma we face. In short, our economic position as a nation and our economic positions as physical therapists are simply unsustainable, given the present circumstances and course of events. Given these circumstances, I'd be interested in hearing from folks as to the following: 1) At what age would you like to retire? 2) At what age do you think you can realistically or will have to realistically retire? 3) Do you have a defined benefit or defined contribution retirement plan, are you counting on a spouse's retirement plan, or what other retirement options do you have (i.e. pension from previous occupation, inheritance, Social Security, etc.)? 4) Do you feel you will achieve your financial goals for retirement by your desired age of retirement? These thoughts have come about from looking at the average salaries earned by physical therapists and looking at one of the retirement programs endorsed by the APTA and realizing that it is highly improbable that most physical therapists would be able to retire at a level above a low income or poverty level using those programs. I'd be interested in hearing others' thoughts. , PT, OCS Marquette, MI Senate Passes Bill Per an APTA email, the Senate bill does extend the therapy cap exception process for the first months of 2012 in addition to halting the 27.4% payment reduction. Rick Gawenda, PT President Gawenda Seminars & Consulting, Inc. www.gawendaseminars.com Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 18, 2011 Report Share Posted December 18, 2011 , Zerohedge is the best source of Real economics. It is written by high-frequency hedge fund traders who know how corrupt the system has become and the end of fiat money is near. It is real and the Federal reserve does not like them for exposing truth about modern finance and economics. I have been following them for over 3 years. Reading zerohedge may turn you anti-debt, anti-politics, anti-government, anti-waste, pro-private sector, pro defecit-reduction, pro- smaller government, and so on. If you read zerohedge, you must believe in cutting wasteful spending and that translates into cutting Medicare, SS, defense, etc.. And this means cutting PT reimbursements. Most folks who are fed by the gov't such as unions, state pensioners and those reimbursed by Medicare will not like what zerohedge has to say....even though it is the truth. " On a long enough timeline, the survival rate for everyone turns to zero " Meli Sent from my iPad > Considering the level of government spending which is occurring versus present and projected tax revenues and economic activity, one just wonders how much longer our government can " Pretend and Extend " . > > From ZeroHedge, here are 50 economic numbers about the US that are " almost too crazy to believe " . > http://www.zerohedge.com/news/50-economic-numbers-about-us-are-almost-too-crazy-\ believe > I would encourage everyone to read this article (and a myriad of other articles related to the present economic issues) to understand the dilemma we face. In short, our economic position as a nation and our economic positions as physical therapists are simply unsustainable, given the present circumstances and course of events. > > Given these circumstances, I'd be interested in hearing from folks as to the following: > 1) At what age would you like to retire? > 2) At what age do you think you can realistically or will have to realistically retire? > 3) Do you have a defined benefit or defined contribution retirement plan, are you counting on a spouse's retirement plan, or what other retirement options do you have > (i.e. pension from previous occupation, inheritance, Social Security, etc.)? > 4) Do you feel you will achieve your financial goals for retirement by your desired age of retirement? > These thoughts have come about from looking at the average salaries earned by physical therapists and looking at one of the retirement programs endorsed by the > APTA and realizing that it is highly improbable that most physical therapists would be able to retire at a level above a low income or poverty level using those programs. > I'd be interested in hearing others' thoughts. > > , PT, OCS > Marquette, MI > > Senate Passes Bill > > Per an APTA email, the Senate bill does extend the therapy cap exception process for the first months of 2012 in addition to halting the 27.4% payment reduction. > > Rick Gawenda, PT > President > Gawenda Seminars & Consulting, Inc. > www.gawendaseminars.com > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 18, 2011 Report Share Posted December 18, 2011 , Zerohedge is the best source of Real economics. It is written by high-frequency hedge fund traders who know how corrupt the system has become and the end of fiat money is near. It is real and the Federal reserve does not like them for exposing truth about modern finance and economics. I have been following them for over 3 years. Reading zerohedge may turn you anti-debt, anti-politics, anti-government, anti-waste, pro-private sector, pro defecit-reduction, pro- smaller government, and so on. If you read zerohedge, you must believe in cutting wasteful spending and that translates into cutting Medicare, SS, defense, etc.. And this means cutting PT reimbursements. Most folks who are fed by the gov't such as unions, state pensioners and those reimbursed by Medicare will not like what zerohedge has to say....even though it is the truth. " On a long enough timeline, the survival rate for everyone turns to zero " Meli Sent from my iPad > Considering the level of government spending which is occurring versus present and projected tax revenues and economic activity, one just wonders how much longer our government can " Pretend and Extend " . > > From ZeroHedge, here are 50 economic numbers about the US that are " almost too crazy to believe " . > http://www.zerohedge.com/news/50-economic-numbers-about-us-are-almost-too-crazy-\ believe > I would encourage everyone to read this article (and a myriad of other articles related to the present economic issues) to understand the dilemma we face. In short, our economic position as a nation and our economic positions as physical therapists are simply unsustainable, given the present circumstances and course of events. > > Given these circumstances, I'd be interested in hearing from folks as to the following: > 1) At what age would you like to retire? > 2) At what age do you think you can realistically or will have to realistically retire? > 3) Do you have a defined benefit or defined contribution retirement plan, are you counting on a spouse's retirement plan, or what other retirement options do you have > (i.e. pension from previous occupation, inheritance, Social Security, etc.)? > 4) Do you feel you will achieve your financial goals for retirement by your desired age of retirement? > These thoughts have come about from looking at the average salaries earned by physical therapists and looking at one of the retirement programs endorsed by the > APTA and realizing that it is highly improbable that most physical therapists would be able to retire at a level above a low income or poverty level using those programs. > I'd be interested in hearing others' thoughts. > > , PT, OCS > Marquette, MI > > Senate Passes Bill > > Per an APTA email, the Senate bill does extend the therapy cap exception process for the first months of 2012 in addition to halting the 27.4% payment reduction. > > Rick Gawenda, PT > President > Gawenda Seminars & Consulting, Inc. > www.gawendaseminars.com > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 18, 2011 Report Share Posted December 18, 2011 Hi , I've been following ZeroHedge a few years myself so I have more than a passing familiarity with it. I don't know if I'd say its the best source of " real " economics but I agree, it certainly is a useful one and one of many that I regularly read and extract information from. As for extrapolating one's behavior from reading ZeroHedge, that's a bit of a reach. For the most part, I agree with you but there a few issues where we probably differ. Since the discussion would take more time than I have right now, I hope you'll allow me to revisit the topic in the near future. Briefly though, if we would eliminate the Federal Reserve and vigorously prosecute Wall Street, corporate, and government corruption, it would be a good start towards providing the money for some of the essential social services that US citizens will need more than ever now. However, the likelihood of such elimination and prosecution is virtually nil at the present time. As one analyst says, we face a dilemma, not a problem. Problems have solutions, dilemmas have outcomes. , PT, OCS Marquette, MI Senate Passes Bill > > Per an APTA email, the Senate bill does extend the therapy cap exception process for the first months of 2012 in addition to halting the 27.4% payment reduction. > > Rick Gawenda, PT > President > Gawenda Seminars & Consulting, Inc. > www.gawendaseminars.com > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 18, 2011 Report Share Posted December 18, 2011 Hi , I've been following ZeroHedge a few years myself so I have more than a passing familiarity with it. I don't know if I'd say its the best source of " real " economics but I agree, it certainly is a useful one and one of many that I regularly read and extract information from. As for extrapolating one's behavior from reading ZeroHedge, that's a bit of a reach. For the most part, I agree with you but there a few issues where we probably differ. Since the discussion would take more time than I have right now, I hope you'll allow me to revisit the topic in the near future. Briefly though, if we would eliminate the Federal Reserve and vigorously prosecute Wall Street, corporate, and government corruption, it would be a good start towards providing the money for some of the essential social services that US citizens will need more than ever now. However, the likelihood of such elimination and prosecution is virtually nil at the present time. As one analyst says, we face a dilemma, not a problem. Problems have solutions, dilemmas have outcomes. , PT, OCS Marquette, MI Senate Passes Bill > > Per an APTA email, the Senate bill does extend the therapy cap exception process for the first months of 2012 in addition to halting the 27.4% payment reduction. > > Rick Gawenda, PT > President > Gawenda Seminars & Consulting, Inc. > www.gawendaseminars.com > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 18, 2011 Report Share Posted December 18, 2011 Hi , I've been following ZeroHedge a few years myself so I have more than a passing familiarity with it. I don't know if I'd say its the best source of " real " economics but I agree, it certainly is a useful one and one of many that I regularly read and extract information from. As for extrapolating one's behavior from reading ZeroHedge, that's a bit of a reach. For the most part, I agree with you but there a few issues where we probably differ. Since the discussion would take more time than I have right now, I hope you'll allow me to revisit the topic in the near future. Briefly though, if we would eliminate the Federal Reserve and vigorously prosecute Wall Street, corporate, and government corruption, it would be a good start towards providing the money for some of the essential social services that US citizens will need more than ever now. However, the likelihood of such elimination and prosecution is virtually nil at the present time. As one analyst says, we face a dilemma, not a problem. Problems have solutions, dilemmas have outcomes. , PT, OCS Marquette, MI Senate Passes Bill > > Per an APTA email, the Senate bill does extend the therapy cap exception process for the first months of 2012 in addition to halting the 27.4% payment reduction. > > Rick Gawenda, PT > President > Gawenda Seminars & Consulting, Inc. > www.gawendaseminars.com > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 19, 2011 Report Share Posted December 19, 2011 Regarding this: " As one analyst says, we face a dilemma, not a problem. Problems have solutions, dilemmas have outcomes. " Translation: We will be forced to adapt to an inevitable outcome, as opposed to contrive solutions to avoid an outcome. We tend to behave as if the status quo can be infinitely sustained, but with this particular status quo, it just ain't so. The really incredible financial mess we are in from manipulated financial markets, over-leveraged investing, and pure, over-consumption debt---globally, nationally, and for many of us, personally as well---is indeed dragging us into a serious disaster. At this point it looks like no amount of last-minute fiddling will prevent the worst from happening, and anyway, despite the dire warning signs, taking action to stabilize is extremely unpopular. We healthcare providers need only look in the mirror for evidence of that. With our economy circling the drain and medical care already soaking up17 percent of GDP (and with GDP shrinking overall on a per-capita basis!) we continue to demand more money and freer utilization. Can we fully appreciate this? Yes, we do have a needy population, but we also have negative bank accounts---clearly a rock and a hard place. Since unanticipated and anticipated realities are equally cold, providers looking for more money are likely in for a very rude awakening. Bad timing I'd say for a profession that has made enlarging its income potential a primary practice management feature. Dave Milano, PT Laurel Health System Rehabilitation Director ________________________________ From: PTManager [mailto:PTManager ] On Behalf Of Sent: Sunday, December 18, 2011 11:09 PM To: PTManager Subject: Re: Senate Passes Bill Hi , I've been following ZeroHedge a few years myself so I have more than a passing familiarity with it. I don't know if I'd say its the best source of " real " economics but I agree, it certainly is a useful one and one of many that I regularly read and extract information from. As for extrapolating one's behavior from reading ZeroHedge, that's a bit of a reach. For the most part, I agree with you but there a few issues where we probably differ. Since the discussion would take more time than I have right now, I hope you'll allow me to revisit the topic in the near future. Briefly though, if we would eliminate the Federal Reserve and vigorously prosecute Wall Street, corporate, and government corruption, it would be a good start towards providing the money for some of the essential social services that US citizens will need more than ever now. However, the likelihood of such elimination and prosecution is virtually nil at the present time. As one analyst says, we fa ce a dilemma, not a problem. Problems have solutions, dilemmas have outcomes. , PT, OCS Marquette, MI Senate Passes Bill > > Per an APTA email, the Senate bill does extend the therapy cap exception process for the first months of 2012 in addition to halting the 27.4% payment reduction. > > Rick Gawenda, PT > President > Gawenda Seminars & Consulting, Inc. > www.gawendaseminars.com > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 19, 2011 Report Share Posted December 19, 2011 , I agree;that this is a discussion that is far too large for this forum but if you would like a more objective global economic reading, check out www.RGEmonitor.com. Their economonitor section is free. The rest is for multinational companies....out of our price range. You can get the gist of things without having to pay for the in-dept industry-specific data. Nouriel Roubini is head of NYU and predicted the crisis in the mid 2000's. By the way, your first e-mail talks about retirement and pensions. In my opinion, 401k's, IRA's and the like are methods for holding middle class money hostage. You cannot touch it but the 'powers that be' play with it and leverage the system to where it is today....at risk of a derivatives disaster. One is better off buying a small multi-family home and the rental income will be your retirement nest egg (besides the equity after 30 years). Meli Re: Senate Passes Bill Hi , I've been following ZeroHedge a few years myself so I have more than a passing familiarity with it. I don't know if I'd say its the best source of " real " economics but I agree, it certainly is a useful one and one of many that I regularly read and extract information from. As for extrapolating one's behavior from reading ZeroHedge, that's a bit of a reach. For the most part, I agree with you but there a few issues where we probably differ. Since the discussion would take more time than I have right now, I hope you'll allow me to revisit the topic in the near future. Briefly though, if we would eliminate the Federal Reserve and vigorously prosecute Wall Street, corporate, and government corruption, it would be a good start towards providing the money for some of the essential social services that US citizens will need more than ever now. However, the likelihood of such elimination and prosecution is virtually nil at the present time. As one analyst says, we fa ce a dilemma, not a problem. Problems have solutions, dilemmas have outcomes. , PT, OCS Marquette, MI Senate Passes Bill > > Per an APTA email, the Senate bill does extend the therapy cap exception process for the first months of 2012 in addition to halting the 27.4% payment reduction. > > Rick Gawenda, PT > President > Gawenda Seminars & Consulting, Inc. > www.gawendaseminars.com > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 19, 2011 Report Share Posted December 19, 2011 To All Readers Mr. raises an issue that should be critically important to every individual. Based on independent data from the EBRI, the vast majority of Americans, without a defined benefit program, are on track to retire into poverty. Very few have the mathematical skills or have attempted to develop a realistic actuarial analysis regarding their individual financial needs. In spite of political procrastination in addressing our escalating national debt, the simple fact is that at some point we will be forced to incur significant reductions in entitlements which will only increase the level of individual resources required for even a modestly secure retirement. From personal experience, I can state that a significant percentage of the population is under the illusion that they will be secure because of their systematic contributions to a deferred compensation program. Plan fiduciaries have generally provided minimal or misleading information. Investment fees are not disclosed, overly optimistic assumptions are used for capital appreciation, the erosive effects of inflation are neglected, and aggressive distribution rates are encouraged. To select some arbitrary age for retirement would be fiscally irresponsible. The true determining factor should be whether you have sufficient resources to sustain yourself over the remainder of your lifetime. The following is an excerpt from a recent article. “Retirement: $2 million†“Gen X & Y will need to save much more than their parents did for retirement. To do that, they'll need an early start -- and a game plan. Retirement won't be impossible for Generations X and Y, but compared with the baby boomers, they will need to save considerably more to make up for less employer and government help.†Finally, I would like to answer Mr. ’s questions. 1. Approximately 5 years ago 2. Depending on the performance of my investments, I would like to retire at 66. Then I am eligible for full Social Security 3. Defined contribution, Roth IRA, non-qualified savings, real-estate I might add that I also prepaid a LTC policy so that I don’t have that expense after I retire 4. Based on a variety of spreadsheet calculations and Monte Carlo modeling, I feel that I am on track to achieve my goals. Jim Haglund PT, DPT, MPA, MSR, MBA Sault Ste Marie From: PTManager [mailto:PTManager ] On Behalf Of Sent: Sunday, December 18, 2011 9:53 PM To: PTManager Subject: Re: Senate Passes Bill , Zerohedge is the best source of Real economics. It is written by high-frequency hedge fund traders who know how corrupt the system has become and the end of fiat money is near. It is real and the Federal reserve does not like them for exposing truth about modern finance and economics. I have been following them for over 3 years. Reading zerohedge may turn you anti-debt, anti-politics, anti-government, anti-waste, pro-private sector, pro defecit-reduction, pro- smaller government, and so on. If you read zerohedge, you must believe in cutting wasteful spending and that translates into cutting Medicare, SS, defense, etc.. And this means cutting PT reimbursements. Most folks who are fed by the gov't such as unions, state pensioners and those reimbursed by Medicare will not like what zerohedge has to say....even though it is the truth. " On a long enough timeline, the survival rate for everyone turns to zero " Meli Sent from my iPad On Dec 18, 2011, at 3:34 PM, " " <ao@... <mailto:ao%40chartermi.net> > wrote: > Considering the level of government spending which is occurring versus present and projected tax revenues and economic activity, one just wonders how much longer our government can " Pretend and Extend " . > > From ZeroHedge, here are 50 economic numbers about the US that are " almost too crazy to believe " . > http://www.zerohedge.com/news/50-economic-numbers-about-us-are-almost-too-crazy-\ believe > I would encourage everyone to read this article (and a myriad of other articles related to the present economic issues) to understand the dilemma we face. In short, our economic position as a nation and our economic positions as physical therapists are simply unsustainable, given the present circumstances and course of events. > > Given these circumstances, I'd be interested in hearing from folks as to the following: > 1) At what age would you like to retire? > 2) At what age do you think you can realistically or will have to realistically retire? > 3) Do you have a defined benefit or defined contribution retirement plan, are you counting on a spouse's retirement plan, or what other retirement options do you have > (i.e. pension from previous occupation, inheritance, Social Security, etc.)? > 4) Do you feel you will achieve your financial goals for retirement by your desired age of retirement? > These thoughts have come about from looking at the average salaries earned by physical therapists and looking at one of the retirement programs endorsed by the > APTA and realizing that it is highly improbable that most physical therapists would be able to retire at a level above a low income or poverty level using those programs. > I'd be interested in hearing others' thoughts. > > , PT, OCS > Marquette, MI > > Senate Passes Bill > > Per an APTA email, the Senate bill does extend the therapy cap exception process for the first months of 2012 in addition to halting the 27.4% payment reduction. > > Rick Gawenda, PT > President > Gawenda Seminars & Consulting, Inc. > www.gawendaseminars.com > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 19, 2011 Report Share Posted December 19, 2011 , Thanks for the tip. I'll check out that site. FWIW, I'm a little bit leery of Nouriel Roubini for a number of reasons including the fact that the mainstream media seems to love him (which immediately makes me suspicious of his motives, given the ownership of the MSM) and the fact that his track record is mixed, including (if my memory serves me correctly) repeated errors in predicting the direction of gold prices. One of my favorites instead is Steve Keen. I agree with you about the retirement accounts. Nationalizing them (to boost up domestic investment in Treasury debt) has been on the table for some time now and has been done in countries such as Argentina and Hungary. It could easily happen here. Furthermore, the investment choices offered by most 401Ks are dismal in our present market and almost completely devoid of alternative investments. Residential real estate designed to accomodate those individuals who have been foreclosed out of their homes is, I would agree, a very reasonable choice. being consistently quite wrong abo Senate Passes Bill > > Per an APTA email, the Senate bill does extend the therapy cap exception process for the first months of 2012 in addition to halting the 27.4% payment reduction. > > Rick Gawenda, PT > President > Gawenda Seminars & Consulting, Inc. > www.gawendaseminars.com > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 19, 2011 Report Share Posted December 19, 2011 , Thanks for the tip. I'll check out that site. FWIW, I'm a little bit leery of Nouriel Roubini for a number of reasons including the fact that the mainstream media seems to love him (which immediately makes me suspicious of his motives, given the ownership of the MSM) and the fact that his track record is mixed, including (if my memory serves me correctly) repeated errors in predicting the direction of gold prices. One of my favorites instead is Steve Keen. I agree with you about the retirement accounts. Nationalizing them (to boost up domestic investment in Treasury debt) has been on the table for some time now and has been done in countries such as Argentina and Hungary. It could easily happen here. Furthermore, the investment choices offered by most 401Ks are dismal in our present market and almost completely devoid of alternative investments. Residential real estate designed to accomodate those individuals who have been foreclosed out of their homes is, I would agree, a very reasonable choice. being consistently quite wrong abo Senate Passes Bill > > Per an APTA email, the Senate bill does extend the therapy cap exception process for the first months of 2012 in addition to halting the 27.4% payment reduction. > > Rick Gawenda, PT > President > Gawenda Seminars & Consulting, Inc. > www.gawendaseminars.com > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 19, 2011 Report Share Posted December 19, 2011 , Thanks for the tip. I'll check out that site. FWIW, I'm a little bit leery of Nouriel Roubini for a number of reasons including the fact that the mainstream media seems to love him (which immediately makes me suspicious of his motives, given the ownership of the MSM) and the fact that his track record is mixed, including (if my memory serves me correctly) repeated errors in predicting the direction of gold prices. One of my favorites instead is Steve Keen. I agree with you about the retirement accounts. Nationalizing them (to boost up domestic investment in Treasury debt) has been on the table for some time now and has been done in countries such as Argentina and Hungary. It could easily happen here. Furthermore, the investment choices offered by most 401Ks are dismal in our present market and almost completely devoid of alternative investments. Residential real estate designed to accomodate those individuals who have been foreclosed out of their homes is, I would agree, a very reasonable choice. being consistently quite wrong abo Senate Passes Bill > > Per an APTA email, the Senate bill does extend the therapy cap exception process for the first months of 2012 in addition to halting the 27.4% payment reduction. > > Rick Gawenda, PT > President > Gawenda Seminars & Consulting, Inc. > www.gawendaseminars.com > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 19, 2011 Report Share Posted December 19, 2011 , Thank you for making the point I was alluding to far more eloquently than I did. In addition to the wake-up call you noted, the American public is just beginning to realize that the vast majority of pension plans are underfunded and unlikely to deliver as promised. Corporate plans have already come onto the chopping block and municipal, county, and state plans are being nudged into position to be next for this dubious distinction. Federal plans will be last (due to the fact that the federal government can endlessly print money) but they too are facing progressively increasing risk for being reduced to a fraction of what was promised, either overtly through re-negotation or forced revision (which, for example, could theoretically occur through the signing of an executive order for national security reasons) or covertly through inflation or other, as of yet, undetermined means. In answer to the question I posed, for myself: 1) age 62 2) age 62, at least partially, since I don't know if I'll ever want to fully retire 3) defined contribution, IRAs, income producing property, business ownership, productive land, savings/investments 4) yes, with no thanks to Wall Street or the government , PT, OCS Marquette, MI Senate Passes Bill > > Per an APTA email, the Senate bill does extend the therapy cap exception process for the first months of 2012 in addition to halting the 27.4% payment reduction. > > Rick Gawenda, PT > President > Gawenda Seminars & Consulting, Inc. > www.gawendaseminars.com > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 19, 2011 Report Share Posted December 19, 2011 , Thank you for making the point I was alluding to far more eloquently than I did. In addition to the wake-up call you noted, the American public is just beginning to realize that the vast majority of pension plans are underfunded and unlikely to deliver as promised. Corporate plans have already come onto the chopping block and municipal, county, and state plans are being nudged into position to be next for this dubious distinction. Federal plans will be last (due to the fact that the federal government can endlessly print money) but they too are facing progressively increasing risk for being reduced to a fraction of what was promised, either overtly through re-negotation or forced revision (which, for example, could theoretically occur through the signing of an executive order for national security reasons) or covertly through inflation or other, as of yet, undetermined means. In answer to the question I posed, for myself: 1) age 62 2) age 62, at least partially, since I don't know if I'll ever want to fully retire 3) defined contribution, IRAs, income producing property, business ownership, productive land, savings/investments 4) yes, with no thanks to Wall Street or the government , PT, OCS Marquette, MI Senate Passes Bill > > Per an APTA email, the Senate bill does extend the therapy cap exception process for the first months of 2012 in addition to halting the 27.4% payment reduction. > > Rick Gawenda, PT > President > Gawenda Seminars & Consulting, Inc. > www.gawendaseminars.com > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 19, 2011 Report Share Posted December 19, 2011 , Thank you for making the point I was alluding to far more eloquently than I did. In addition to the wake-up call you noted, the American public is just beginning to realize that the vast majority of pension plans are underfunded and unlikely to deliver as promised. Corporate plans have already come onto the chopping block and municipal, county, and state plans are being nudged into position to be next for this dubious distinction. Federal plans will be last (due to the fact that the federal government can endlessly print money) but they too are facing progressively increasing risk for being reduced to a fraction of what was promised, either overtly through re-negotation or forced revision (which, for example, could theoretically occur through the signing of an executive order for national security reasons) or covertly through inflation or other, as of yet, undetermined means. In answer to the question I posed, for myself: 1) age 62 2) age 62, at least partially, since I don't know if I'll ever want to fully retire 3) defined contribution, IRAs, income producing property, business ownership, productive land, savings/investments 4) yes, with no thanks to Wall Street or the government , PT, OCS Marquette, MI Senate Passes Bill > > Per an APTA email, the Senate bill does extend the therapy cap exception process for the first months of 2012 in addition to halting the 27.4% payment reduction. > > Rick Gawenda, PT > President > Gawenda Seminars & Consulting, Inc. > www.gawendaseminars.com > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 21, 2011 Report Share Posted December 21, 2011 , I agree with your views on the status of existing pensions. My concern about state, municipal, and county unfunded pension liabilities is that politicians will place this burden on current and future taxpayers. We will be left responsible for these exorbitant promises that were made in the interest of securing votes and getting re-elected. Jim Haglund PT, DPT, MPA, MSR, MBA Sault Ste Marie From: PTManager [mailto:PTManager ] On Behalf Of Sent: Monday, December 19, 2011 9:06 PM To: PTManager Subject: Re: Senate Passes Bill , Thank you for making the point I was alluding to far more eloquently than I did. In addition to the wake-up call you noted, the American public is just beginning to realize that the vast majority of pension plans are underfunded and unlikely to deliver as promised. Corporate plans have already come onto the chopping block and municipal, county, and state plans are being nudged into position to be next for this dubious distinction. Federal plans will be last (due to the fact that the federal government can endlessly print money) but they too are facing progressively increasing risk for being reduced to a fraction of what was promised, either overtly through re-negotation or forced revision (which, for example, could theoretically occur through the signing of an executive order for national security reasons) or covertly through inflation or other, as of yet, undetermined means. In answer to the question I posed, for myself: 1) age 62 2) age 62, at least partially, since I don't know if I'll ever want to fully retire 3) defined contribution, IRAs, income producing property, business ownership, productive land, savings/investments 4) yes, with no thanks to Wall Street or the government , PT, OCS Marquette, MI Senate Passes Bill > > Per an APTA email, the Senate bill does extend the therapy cap exception process for the first months of 2012 in addition to halting the 27.4% payment reduction. > > Rick Gawenda, PT > President > Gawenda Seminars & Consulting, Inc. > www.gawendaseminars.com > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 21, 2011 Report Share Posted December 21, 2011 , I agree with your views on the status of existing pensions. My concern about state, municipal, and county unfunded pension liabilities is that politicians will place this burden on current and future taxpayers. We will be left responsible for these exorbitant promises that were made in the interest of securing votes and getting re-elected. Jim Haglund PT, DPT, MPA, MSR, MBA Sault Ste Marie From: PTManager [mailto:PTManager ] On Behalf Of Sent: Monday, December 19, 2011 9:06 PM To: PTManager Subject: Re: Senate Passes Bill , Thank you for making the point I was alluding to far more eloquently than I did. In addition to the wake-up call you noted, the American public is just beginning to realize that the vast majority of pension plans are underfunded and unlikely to deliver as promised. Corporate plans have already come onto the chopping block and municipal, county, and state plans are being nudged into position to be next for this dubious distinction. Federal plans will be last (due to the fact that the federal government can endlessly print money) but they too are facing progressively increasing risk for being reduced to a fraction of what was promised, either overtly through re-negotation or forced revision (which, for example, could theoretically occur through the signing of an executive order for national security reasons) or covertly through inflation or other, as of yet, undetermined means. In answer to the question I posed, for myself: 1) age 62 2) age 62, at least partially, since I don't know if I'll ever want to fully retire 3) defined contribution, IRAs, income producing property, business ownership, productive land, savings/investments 4) yes, with no thanks to Wall Street or the government , PT, OCS Marquette, MI Senate Passes Bill > > Per an APTA email, the Senate bill does extend the therapy cap exception process for the first months of 2012 in addition to halting the 27.4% payment reduction. > > Rick Gawenda, PT > President > Gawenda Seminars & Consulting, Inc. > www.gawendaseminars.com > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted December 21, 2011 Report Share Posted December 21, 2011 , I agree with your views on the status of existing pensions. My concern about state, municipal, and county unfunded pension liabilities is that politicians will place this burden on current and future taxpayers. We will be left responsible for these exorbitant promises that were made in the interest of securing votes and getting re-elected. Jim Haglund PT, DPT, MPA, MSR, MBA Sault Ste Marie From: PTManager [mailto:PTManager ] On Behalf Of Sent: Monday, December 19, 2011 9:06 PM To: PTManager Subject: Re: Senate Passes Bill , Thank you for making the point I was alluding to far more eloquently than I did. In addition to the wake-up call you noted, the American public is just beginning to realize that the vast majority of pension plans are underfunded and unlikely to deliver as promised. Corporate plans have already come onto the chopping block and municipal, county, and state plans are being nudged into position to be next for this dubious distinction. Federal plans will be last (due to the fact that the federal government can endlessly print money) but they too are facing progressively increasing risk for being reduced to a fraction of what was promised, either overtly through re-negotation or forced revision (which, for example, could theoretically occur through the signing of an executive order for national security reasons) or covertly through inflation or other, as of yet, undetermined means. In answer to the question I posed, for myself: 1) age 62 2) age 62, at least partially, since I don't know if I'll ever want to fully retire 3) defined contribution, IRAs, income producing property, business ownership, productive land, savings/investments 4) yes, with no thanks to Wall Street or the government , PT, OCS Marquette, MI Senate Passes Bill > > Per an APTA email, the Senate bill does extend the therapy cap exception process for the first months of 2012 in addition to halting the 27.4% payment reduction. > > Rick Gawenda, PT > President > Gawenda Seminars & Consulting, Inc. > www.gawendaseminars.com > > Quote Link to comment Share on other sites More sharing options...
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