Now I’m a capitalist

                       

I was looking at a red t-shirt that said, "Capitalist."  Most of my professional life I worked for the government: University of Illinois, Ohio State University, State of Ohio, and OhioNet ( state and federal grant money). I had a few jobs working in the free market economy when I was between "real" jobs, and of course, I was my husband's only staff for 20 years. So I have a state teacher's pension (not Social Security--can't have both). That sort of qualifies me as a capitalist, because pensions are invested in businesses/stock market/ real estate/ etc. While I was working, I socked away as much as was allowed in TIAA-CREF and IRAs (the stock market). For now those businesses and fat cats that are regularly maligned by this administration are doing well and paying me for investing my money—as a capitalist.

http://www2.ucsc.edu/whorulesamerica/power/pension_fund_capitalism.html

http://www.statecapitalist.org/category/pension/

http://www.giaging.org/documents/NIRS_Report_12-10-13.pdf

Start saving now, college grads

When I graduated from college I was 21 and 5 months pregnant. I had other things on my mind than saving for retirement.  .  . like rent, food, graduate school, paying off the hospital and doctor bills (it was a pay as you go baby).  I put it off until I was about 48 and the children were launched.  Then I opened a tax deferred account through TIAA-CREF and started setting aside the maximum allowed.  Since I didn’t go back to work full time until about that same time, I was really behind.  If you’re starting out, don’t do what I did.

Here's how interest compounds over time: If you save $10 a day at age 25, you'll have more than $1 million by age 65, assuming an 8% annual rate of return. If you start at age 35, you'll have $445,000. At age 45, you'll only have $180,000.

http://online.wsj.com/article/SB10001424052702304432704577348052844503384.html

Challenges to invest

This morning I got an e-mail from TIAA-CREF (Teachers Insurance and Annuity Association-College Retirement Equities Fund) encouraging me to invest more. I've already forgotten the reason. There were so many footnotes clarifying it, they outnumbered the sentences in the message. The "barrister" from Nigeria and the princess wife of the prisoner in Suckerstan who are offering me millions if I just help a little are starting to look more interesting, don't you think?