Is Your Pension Safe?

  • Regular readers know that I'm someone who generally dislikes debt. Not only personal debt, but the debt of our cities, counties, states and federal government. The reason is simple. Debt often has very serious consequences.


    That can be especially true of government debt. This article from includes a map of cities that are in danger of declaring bankruptcy.


    Most of them share a similar problem. Not only with other cities, but with counties and states. The problem is that the politicians have made pension promises without providing the tax revenue to keep those promises. Now when people like you and I are expecting to collect those pensions we find out that they can't pay the pensions and also maintain government services.


    We looked at the issue in this article. Whether you're expecting a government pension or not you'll find it of interest.


    On a separate topic, I want to discuss savings. And share something that doesn't seem to get much attention.


    Just as we oppose debt, here at TDS we love savings. And we encourage saving as much as we can. But there's a dirty little secret. Most savings lose value every year.


    The reason is simple. Most savings accounts are earning less than 1%. But inflation ran 1.9% for the 12 months ending this August. So your savings are losing approximately 1% a year!


    To boost what your savings earn you might want to visit our

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