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This statistic ignores the stocks owned by pension funds on behalf of workers. Many government workers are still entitled to pensions.
by Bostonian 3y ago
This statistic ignores the stocks owned by pension funds on behalf of workers. Many government workers are still entitled to pensions.
- alephnan 3y agoPensions have been on the decline
- lapcat 3y agohttps://en.wikipedia.org/wiki/Pensions_crisis https://en.wikipedia.org/wiki/Pensions_crisis
- ruined 3y agoyeah, just like all the money in the bank isn't actually the bank's money. the bank still has the money
- jampekka 3y agoExcept for the money you owe to the bank that created it by pressing a button.
- rthkljlkrj 3y ago[dead]
- FooBarBizBazz 3y agoIndeed, and if you divide that pension cashflow by, say, 4%, you arrive at equivalent wealth figures that can be very significant. Say somebody retires from the military as a low-ranking officer. You don't think of them as particularly wealthy, but once you value their cashflow, you realize they're loaded.
- wolverine876 3y agoThe value is money/time. $1M over 40 years is only $25,000/yr, minus inflation and tax. Wherever that person lives, I don't suppose they feel 'loaded'.
- dwallin 3y agoIt ignores it, but not in favor of the bottom 90%, it looks like the numbers for % of pension entitlements have dropped significantly for the bottom 90% and went up only for the top decile. 50-90% https://fred.stlouisfed.org/series/WFRBSN40178 https://fred.stlouisfed.org/series/WFRBSN40178 1-50% https://fred.stlouisfed.org/series/WFRBSB50205 https://fred.stlouisfed.org/series/WFRBSB50205 90-99% https://fred.stlouisfed.org/series/WFRBSN09151 https://fred.stlouisfed.org/series/WFRBSN09151