Quote:but I also don't like them changing the rules on retirement savings for those who follow their rules and do exceptionally well, only to have the rug pulled out from under them because our government won't control their own spending and balance their budget , and start to view retirement accounts as resources for their continued lack of fiscal responsibility . If we all ran our personal finances like the government runs theirs, we'd all be bankrupt.
It irritates me to no end for some government as swipe like Obama thinks they have the right to decide what is a "good enough" retirement income for the American people. Isn't that up to each of us to determine for ourselves, and invest accordingly?
I don't like them changing the rules either. In Canada the graduated retirement age qualification transition is in swing. Used to be able to retire at age 65 to qualify for both CPP and the Old Age Security benefit. The Government has now rammed 67 age eligibility down tax-payers throats. Talk of age 70 is in the air. Short of an armed revolt things don't change here. I can't count how many of those have happened here lately (insert sarcasm here).
On the flip side, MP's can and are eligible for tax-payer subsidized pensions after only 6 years of service beginning at age 55. That figure is to the tune of $6 from the tax-payers for every $1 member contributed dollar...not to shabby for 6 grueling years in Parliament! I assume there are similarities in the US system. Meanwhile through the course of tax-payer working lives we counted on 65 and out. Gotta love the system! 2Diablos has some good arguments for tax saving in becoming an expat...
Retirement savings in our "locked-in" pension can't normally be touched until 65, I was told 70 the other day and I was hoppin' I tell you. I contributed my hard-earned dollars to that account and they say I can't have it until 70 years of age?? I could be on the wrong side of the turf if I have to wait that long!
AMBS I am counting on to supplement my retirement fund though...we will see....
http://news.nationalpost.com/2013/07/05/many-...-for-life/
http://o.canada.com/news/national/by-the-numb...on-payouts
South...
