Thank You Mr. President and the IBEW

[DaGoose]

After working 33 years of hot, dirty swing shift I will now be joining the ranks of the retired. It is because of the now booming economy (Thank you President Obama) and Union benefits (Thank you IBEW) that my wife (Union member too) and I will both be able to retire comfortably at age 55. We will be splitting our time between our house in Florida in the winter and spending time with our 6 grandkids at our house in Illinois during the other 9 months of the year.

Suddenly, in the last two years, the number of baby boomers dropping out of the workforce has taken a big jump, Bloomberg reports. It’s one reason the U.S. jobless rate has dropped to 6.3 percent.

Household wealth in the U.S. climbed by $2.95 trillion in the final three months of 2013 to an all-time high. Average 401(k) balances almost doubled from 2009 to reach a record $89,300 last year, with 78 percent of the annual increase due to the stock market rally, according to Fidelity Investments, the U.S.’s largest provider of 401(k) retirement assets. For pre-retirees 55 and older, the average balance was $165,200, Fidelity said.

“About 76 percent of those leaving the workforce in 2013 … represented people over age 55 who say they don’t want jobs, the Labor Department estimates.”

http://finance.yahoo.com/news/boomers-put-recession-behind-them-232652975.html

 

[Stephanie]

braggart or loyal subject to a Union who is now pushing for Amnesty so they come in and take your place

how lovely to see you bow to them instead of you and your wife's hard work to accomplish this

 

[koshergrl]

Getting paid with money you didn't earn to not work.

It's awesome.

 

[Mr Natural]

Congrats!

As someone who's been retired now for 13 years, I can tell you without a doubt this will be the best time of your life.

Enjoy!

 

[Sallow]

Grats!

Wish I could retire at 55.

But then again..I am greedy.

 

[Iceweasel]

You should thank all those who will be paying for your excess and thinking about all those who lost jobs due to the unfordable costs. But hey, you got yours, fuck everybody else.

 

[Mr Natural]

Classic and expected pettiness from the right firmly on display.

 

[GHook93]

After working 33 years of hot, dirty swing shift I will now be joining the ranks of the retired. It is because of the now booming economy (Thank you President Obama) and Union benefits (Thank you IBEW) that my wife (Union member too) and I will both be able to retire comfortably at age 55. We will be splitting our time between our house in Florida in the winter and spending time with our 6 grandkids at our house in Illinois during the other 9 months of the year.

Suddenly, in the last two years, the number of baby boomers dropping out of the workforce has taken a big jump, Bloomberg reports. It’s one reason the U.S. jobless rate has dropped to 6.3 percent.

Household wealth in the U.S. climbed by $2.95 trillion in the final three months of 2013 to an all-time high. Average 401(k) balances almost doubled from 2009 to reach a record $89,300 last year, with 78 percent of the annual increase due to the stock market rally, according to Fidelity Investments, the U.S.’s largest provider of 401(k) retirement assets. For pre-retirees 55 and older, the average balance was $165,200, Fidelity said.

“About 76 percent of those leaving the workforce in 2013 … represented people over age 55 who say they don’t want jobs, the Labor Department estimates.”

http://finance.yahoo.com/news/boomers-put-recession-behind-them-232652975.html

Oh what bullshit. My father-in-law (a hopeless liberal and sell out to the Unions) has been a labor lawyer for 4 decades in Illinois. He has told me many times about the state of the unions in IL. They are crap. Many are leaving the unions because they unions have no work. The pensions are broke and they leadership time and time against is caught with their hands in the cookie jar and end up in jail.

You are a liar and full of as much shit as your worthless article. One of the main reasons young people are having such a hard time finding a job is because baby boomers are NOT leaving the work force out of necessity (they need the money). Many lose their job and are unable to find another one at their age and they are forced to retire to poverty.

Nevertheless you are a liar. The driving force behind the faux unemployment rate going down is able body people so-called leaving the workforce. These people aren't leaving they work force they are unemployed. Interesting note that Slick Willy started this new calculation during his presidency!

Who's dropping out of the labor force? Not just retiring Baby Boomers | NJ.com
Just who is leaving is a point of debate. But government data suggest it is not simply a matter of Baby Boomers reaching retirement age. Rather, it is the boomers’ children who appear to be falling out the most, data from the U.S. Bureau of Labor Statistics show. And in time, that could have an impact on the economy, experts say.

Since the year 2000, and particularly since the Great Recession, the labor force participation rate — or the measure of working-age people who either have a job or are looking for one — has dropped to its lowest levels in decades. And it should continue to fall over the next eight years or so, according to BLS projections.

The labor force participation rate in the United States stood at 63 percent for February. That’s slightly higher than where it was in December, but still a low it hadn’t previously fallen to since April 1978, according to BLS data.

New Jersey’s participation rate, which until recently was much higher than the national average, dropped to 63.6 percent for January, the lowest since June 1983, from 65.5 percent a year earlier.

 

[GHook93]

Grats!

Wish I could retire at 55.

But then again..I am greedy.

Of course you are greedy you want other people's money!

 

[Mr Natural]

Grats!

Wish I could retire at 55.

But then again..I am greedy.

Of course you are greedy you want other people's money!

Show me a business that's not based on other people's money.

 

[bedowin62]

Grats!

Wish I could retire at 55.

But then again..I am greedy.

Of course you are greedy you want other people's money!

Show me a business that's not based on other people's money.

show me a government that isnt leftard


at least a business cant fail and print money to cover it

ur an idiot

 

[Sallow]

Grats!

Wish I could retire at 55.

But then again..I am greedy.

Of course you are greedy you want other people's money!

Been working since the age of nine, never in a union and never held a government job.

And during some of that time, I ran my own business.

So I have no idea what you are talking about.

 

[Sallow]

Of course you are greedy you want other people's money!

Show me a business that's not based on other people's money.

show me a government that isnt leftard


at least a business cant fail and print money to cover it

ur an idiot

Sez a government employee.

Incredible.

 

[Mr Natural]

Of course you are greedy you want other people's money!

Show me a business that's not based on other people's money.

show me a government that isnt leftard


at least a business cant fail and print money to cover it

ur an idiot

You just say stupid shit just for the sake of saying it, don't you?

 

[bedowin62]

Show me a business that's not based on other people's money.

show me a government that isnt leftard


at least a business cant fail and print money to cover it

ur an idiot

You just say stupid shit just for the sake of saying it, don't you?

i'm on your level now; so yes

 

[Freewill]

Getting paid with money you didn't earn to not work.

It's awesome.

Not true, delayed compensation as outlined in their labor agreement. Like it or not.

 

[bendog]

congrats, if retirement's what you want. Though I wouldn't want to be an electrician after 55 either. I don't think Obama's the cause the economy not tanking. Anyone not a teapartier would have done roughly the same. Obamacare is another matter.

 

[JakeStarkey]

braggart or loyal subject to a Union who is now pushing for Amnesty so they come in and take your place

how lovely to see you bow to them instead of you and your wife's hard work to accomplish this

STFU crazy lady

You squandered your life and your wealth, your problem

 

[Freewill]

I will ask, you said booming economy, where?

And are you thanking GWB for the auto loans?

 

[g4racer]

You should thank all those who will be paying for your excess and thinking about all those who lost jobs due to the unfordable costs. But hey, you got yours, fuck everybody else.

I'd like to find a way to make your mind work. The couple worked all their lives and will get Social Security and Medicare plus a retirement from the Union which is paid for by what they put into the Union.
I'm on SS and lost all except 22k of my retirement in the crash. You remember the crash, don't you? It was caused by the financial institutions that in most cases were acts that were dishonest and unethical but were legal thanks to their ability to buy Congress. Not much has changed for them as they are now back with the ability to do their business as usual. Remember a large part of their income is from bonuses paid for finding legal ways to screw the people that work for a living.

I wonder how many of those trying to get rid of SS will be in line to collect SS and Get on Medicare. I'm 78 in poor health and must work so I don't have to move to one of the cheap southern states and I see nothing wrong with this post.

We can look at the Military where you can retire after 20 years and start getting a pension. Take a job at the post office and get a pension from them. SS is also available after that. They may have stopped the combination of Mil and Civil Service pensions I'm not sure I know they talked about it.