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Post by doctorwho on Feb 23, 2010 22:31:16 GMT -6
DW, I do agree that there are many that are over 50 and finding it very difficult to find employment in their chosen fields. This is why a plan of action needs to be taken by "up and coming professionals" when they are in their thirties. The assumption must be that they have max. 20 good income producing years in their chosen fields. If they have the opportunity to get 25 or 30 years that should be considered a bonus. If this plan of action went into affect early in one's career silly things like imported fancy cars and "granite counter top" big homes would take a back seat to keogh pension plans, college accounts, Roth IRA's and the like. No one would be foolish enough to do silly things like take out 30 year mortgages, lease cars, and taking out second mortgages Instead all these folks would steadily keep their "eye on the ball' full well knowing that the best earning years would be in their forties. The real beauty of this plan is the children of the new "conservative minded" parents would immediately pick up on this value mindedness and mimic the same behavior. Fast forward to NOW... The twenty somethings of today take witness to a bunch of rather portly middle age folks who park their rather portly rear ends in their rather portly supersized SUVs. Driving their rather portly "gas hogging" steroid driven vehicles to the Walmart to $ave the reported $3000+/per year, purchasing cheap goods made in other countries, while their neighbor sits idle, collecting unemployment benefits because his job at Tellabs just got shipped off to India. The rather portly parent goes to Wallmart to pick some good quality food along with the $5.00 prescription generic drugs to treat his Diabetis, hypertension, and high cholesterol. When dad arrives home his twenty something son asks if he wants to play a little ball or take the dog for a walk. The dad replies he would like to but just doesn't have the energy. The dad then turns to his wife and exclaims the saving at the wallmart and informs her of the cheaper gas prices and that it only took $75.00 to fuel up the super tanker.. Now let me ask you, when the twenty something son takes a good look at the "old man", do you think he say's, Gee I can't wait to sign up for that program, when do I get to join AARP! or maybe they don't want to put the effort in, but most of those 20 somethings want all the perks and goods those overspending 50's people had. I witness it every day, it's not like they want an austere life. they have a chance to save more for themselves than my generation did. Unfortunately we bought into the corporate lies of a pension @ 30 years - benefits and all-- however the rug was pullled out 20-25 years in. We can Never recover from those lost savings periods. And before you say we should have been saving anyway - many of us were, but not at the level you need for retirement - we were supposedly earning that each year when the company told you that they didn't pay as much as some other companies, but look at the pension you'll have. SO many took less wages in exchange for the penion, and in the end got screwed - and the courts allowed it - as corp exec salaries rose 50 fold.
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Post by southsidesignmaker on Feb 23, 2010 22:50:09 GMT -6
Arch I can only say that with a conservative plan and the assumption that hurricanes will blow in on a regular basis the chances of being caught off guard are lessened.
As far as being screwed by the district ... count me out... Unhappy at times sure... But overall I feel content that my family received a first rate education thus far in our district. In fact in many ways specific teachers, advisors and administrators were always available when an occasional concern cropped up.
The preparation really showed as our students shoved off to college.
My real concern now has more to do with how much will have to be asked of our teachers as this economic crisis winds its way through the halls of our schools along with the halls of our homes. What has crushed the private sector will now work its way through the public sector, there is no doubt about that. All will share in this downturn.
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Post by Arch on Feb 23, 2010 23:14:13 GMT -6
sssm,
I don't doubt that you've prepared well and can weather it and I know some other empty nesters that will fair quite well, but the majority of the ones I know with kids in the system (especially with 1 or more at the ES level) are no where near the preparedness you explain about. While someone in your position might be able to take the tax hike punches already coming our direction with plenty more to follow... I submit to the floor that most simply can not for the myriad of reasons already mentioned. Job cuts and loss are nowhere near done either, IMO.
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Post by Arch on Feb 23, 2010 23:22:03 GMT -6
It will be interesting to see who has to take one for the team this time and precisely how.
They'd have to send us from Hill to some place like Crone to make it any worse distance wise, so it will be interesting to sit back and watch what comes as well as remind some who reminded us that it's about what's good for the whole district and not just some who feel entitled.
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Post by Arch on Feb 24, 2010 7:04:49 GMT -6
Motorola departing 3,000-5,000 jobs from the area and Plainfield and local businesses not even funding their Economic Partnership anymore.
Outlook: Peachy.
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Post by brant on Feb 24, 2010 7:46:35 GMT -6
Motorola departing 3,000-5,000 jobs from the area and Plainfield and local businesses not even funding their Economic Partnership anymore. Outlook: Peachy. There will be others as well. I think we all know that. What I am curious to see is how the lost jobs will affect the school enrollment and what schools are going to lose kids in the next few years that would lead to closings. Then we will all see the lack of sight on the part of the school board. In some ways I wish JC was still on the board now that the damage has been done. I would love to tell her what I think of her.
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Post by brant on Feb 24, 2010 7:52:00 GMT -6
Another front page picture in the Sun of Brookdale and the "Sign". Hell those people don't give a damn since JC got them what they wanted. DW stated Brookdale was one of WVs big support areas. I wonder how much they will support their former school when it gets into trouble the next few years. My guess is very little if that.
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Post by casey on Feb 24, 2010 8:24:27 GMT -6
I thought the signs had been removed already. Is the Sun just behind or did they want to promote the two signature schools in the district - Metea and Brookdale?
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Post by rew on Feb 24, 2010 8:24:50 GMT -6
Even if you have lived financially conservatively, the future is shaky. Even if you have your nest egg, you wonder whether it will be worth any more ten years from now. Wages are certainly not increasing, even if your job is secure. As the value of my home decreases the % of that value my property taxes represent grows. All these things lead to alot of question marks re the future. Which makes folks vote against any tax increases.
Another reality is that our district is aging and voters become less likely to support the schools through refs as their families age. I am not saying right or wrong, it is a fact. SO I would say the district is not only facing a current crisis, but a real change for the foreseeable future. They will HAVE to cut spending because the likelihood of getting more money from the taxpayers is going down.
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Post by southsidesignmaker on Feb 24, 2010 8:31:46 GMT -6
Doc,
When you exclaim that the younger generation has more opportunity to $ave when compared to the portly, "environmentally unfriendly" 50 something generation, I have to ask how?
When looking at the average cost of a college education parked at a cool 100 grand, one must ask wouldn't these young'ins be at a substantial savings disadvantage. My generation spent nearly half as much in today's dollars to get a 4 year college degree. Team this along with the lack of good paying entry level jobs, a high cost of living for housing, medical, and transportation expenses, and it is hard to see how this younger generation will be able to save like our generation was able to.
I suspect that many of our children instead will question my generation's squandering ways. They will have very good cause to do so based on the lack of preparedness and self indulgence that is all around us. It never ceases to amaze me how the human race can justify wasting precious resources as if it is their "God given right " to do so. And then once the "crap has hit the fan", go out and blame some gov. agency for their lack of vision.
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Post by Arch on Feb 24, 2010 8:40:23 GMT -6
Part of the problem is believing you have to have that 100K education and screwing yourself right out of the gate or (if you still choose that route) believing that you have to pay for it yourself.
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Post by southsidesignmaker on Feb 24, 2010 8:43:50 GMT -6
Arch, I read the same disappointing news regarding Motorola.
On a regionally closer note, it seems stunning that we have a local large corporation trying to fill the 3 old Lucent buildings up just north of I88 with these buildings being semi vacant for nearly a decade. Of course we have our favorite attorney presenting his case against the project. And now the real mudslinging and accusations regarding local government impropriety begins.
I must hand it to my favorite attorney, at least his handy work for our district was instrumental in getting the Metea site moved a bit further south. Maybe his work can help the tenant trying to move into the Lucent site as well. It would be nice to get those dormant building occupied.
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Post by asmodeus on Feb 24, 2010 8:49:42 GMT -6
But it was the govt (Barney Frank et al) that insisted that anyone with a pulse deserved to own a house, regardless of whether they had any money, a job, or a positive credit score. Even now, after all the carnage and a nearly universal consensus that people should have more of a financial commitment in their house (i.e., 20% or more down), FHA loans still only require a tiny down payment (3.5%).
The WSJ recently exposed the skyrocketing number of "strategic defaults" that are happening. People who can easily make the mortgage payments they agreed to are walking away only because their house is worth less than the mortgage. They state that walking away is simply a smart business move. As many as 25% or more of all defaults are from people who can pay.
I once considered paying off my house, which used to be thought of as a noble goal, but now I will keep as much of a loan as possible, especially at these rates. I'd hate to think of myself as someone who would walk away (and right now I do have equity), but if our property tax rates rise to 5-6% of the home value--not unthinkable IMO--I may have to join the ranks of "if you can't beat 'em, join 'em."
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Post by Arch on Feb 24, 2010 8:51:16 GMT -6
He sucked on the MV thing (but that was more the choice of direction by the plaintiffs as a whole)... I don't think it was *his* handy work that got it moved. I suspect there was some Springfield arm bending along with some inconvenient things that came to light where someone didn't really want it further looked into... and as such a party backed out. Sadly, the fact remains just north of 'our' property.
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Post by doctorwho on Feb 24, 2010 8:57:13 GMT -6
Another front page picture in the Sun of Brookdale and the "Sign". Hell those people don't give a damn since JC got them what they wanted. DW stated Brookdale was one of WVs big support areas. I wonder how much they will support their former school when it gets into trouble the next few years. My guess is very little if that. You remember the 'orange shirt' march to try and get the Hell out of WVHS don't you- should tell you all you need to know. Only HC stopped that from happening at the time when JC tried the 11th hour throw Gombert under the bus move.
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