Is there a disconnect between real life and the "professionals"?

[Andre1969]

Quote:

Originally Posted by ERD50 Please do explain this. I am taxed by my local government, and most of it (at least from my property tax) goes to the school district. Their largest expense is salaries (teachers and others). Those teachers, admins, etc, get their paycheck from the school district. How are they not government workers? -ERD50

I always thought of teachers as government workers as well. After all, that's where something like 55% of my Maryland property tax bill goes to. But, I wonder if the teachers themselves are considered contractors, rather than direct employees of the government?

[Mulligan]

Quote:

Originally Posted by Andre1969 I always thought of teachers as government workers as well. After all, that's where something like 55% of my Maryland property tax bill goes to. But, I wonder if the teachers themselves are considered contractors, rather than direct employees of the government?

Teachers in my state (no union) without question consider themselves working for the government. But I imagine the Catholic school teachers here do share that line of thinking.


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[LitGal]

As a public school teacher in CA--and as a community college instructor-- I sat in meetings every year where administrators would admonish us to remember that we were there to serve the taxpayers. As public servants we were to do the best we could to develop the skills of the next generation.

As a teacher in Catholic school here, I was encouraged to reflect the mission and vision of the school. Many features of that mission paralleled the values of public school colleagues with whom I had worked. But here we did not view ourselves as government employees; instead, the principal would remind us that the parents contracted with the school for us to act "in loco parentis." That is, we were there to follow through in helping to mold the students in the same way where their parents would, if they were there.

Certainly not the function of a government worker.

[Mulligan]

Quote:

Originally Posted by LitGal As a public school teacher in CA--and as a community college instructor-- I sat in meetings every year where administrators would admonish us to remember that we were there to serve the taxpayers. As public servants we were to do the best we could to develop the skills of the next generation. As a teacher in Catholic school here, I was encouraged to reflect the mission and vision of the school. Many features of that mission paralleled the values of public school colleagues with whom I had worked. But here we did not view ourselves as government employees; instead, the principal would remind us that the parents contracted with the school for us to act "in loco parentis." That is, we were there to follow through in helping to mold the students in the same way where their parents would, if they were there. Certainly not the function of a government worker.

"In loco parentis" is a basic tenant of all public education teachers. I really don't think most teachers see themselves as "government workers" but simply as an educator. As you know schools are funded by a blend of local, state, and national monies so its a bit messier when saying "government worker" to describe a teacher.


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[HFWR]

Plenty of loco parents...

[jim584672]

"So is all the doom and gloom about a nation of retirees about to implode media inspired hysteria?"

Hard to say. I see posts on here where people are asking if they can make it on only 2.5 / 3 million. My reaction is they need to get a grip on spending if they can't make it on that amount.

[MrLoco]

Quote:

Originally Posted by jim584672 "So is all the doom and gloom about a nation of retirees about to implode media inspired hysteria?" Hard to say. I see posts on here where people are asking if they can make it on only 2.5 / 3 million. My reaction is they need to get a grip on spending if they can't make it on that amount.

Hmmmm...well too much generalizing. A 4% withdrawal rate on $2.5 million is only $100,000. For a retired couple under 65....health insurance and deductibles will take a big chunk of this. Also taxes depending where the money is taken from. Then all the fixed usual expenses.
For my wife and I , we spent years saving and now is the time to enjoy that money, especially before old(er) age makes travel less enjoyable. Now is the time we will take those 3 week cruises, eat out whenever we want, travel here , there, and everywhere. In fact I think , at least for us, 2.5 - 3 million would not be nearly enough. $4 - 4.5 million is more like it.

My reaction is that many people need to get a grip on saving if they feel they will fall short in retirement savings

[HFWR]

Quote:

Originally Posted by MrLoco Hmmmm...well too much generalizing. A 4% withdrawal rate on $2.5 million is only $100,000. For a retired couple under 65....health insurance and deductibles will take a big chunk of this. Also taxes depending where the money is taken from. Then all the fixed usual expenses. For my wife and I , we spent years saving and now is the time to enjoy that money, especially before old(er) age makes travel less enjoyable. Now is the time we will take those 3 week cruises, eat out whenever we want, travel here , there, and everywhere. In fact I think , at least for us, 2.5 - 3 million would not be nearly enough. $4 - 4.5 million is more like it. My reaction is that many people need to get a grip on saving if they feel they will fall short in retirement savings

If I'd never spent one cent of my life's earnings, I still wouldn't have near that much...

[MikeWillRetire]

Quote:

Originally Posted by HFWR If I'd never spent one cent of my life's earnings, I still wouldn't have near that much...

If I saved all of the money I earned during the last 30 years of my career, and invested it to just keep up with inflation, it doesn't even add up to 2.5 million ( and my salary puts me in the top 10%).