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Well, you're betting that government pensions will stay the same (or get better) over the next 20 or so years. That seems to me like a very bad bet to take. Cal

by btmorex 16y ago

Well, you're betting that government pensions will stay the same (or get better) over the next 20 or so years. That seems to me like a very bad bet to take. California is basically bankrupt from paying government worker pensions (among other reasons). What makes you think those programs will continue? Private industry is pretty much devoid of pensions for new workers now and my best guess is that government isn't very far away from that.

lsc 16y ago
>Private industry is pretty much devoid of pensions for new workers now and my best guess is that government isn't very far away from that. You may very well be correct. I think it depends on how long and deep this recession is, and how much debt we are willing to take on to support the public sector workers and unions. My point was just that, at least for people retiring now, the pension doesn't seem 'meager' - if you can get the deal the people retiring now are getting, it seems like pretty good deal. (Though yes, I don't know if if that will be possible in the future.)