Financial decisions... and regerts.

[CalPersFatCat]

Originally Posted by biosurfer1

Wow, how did they pull that off??

From CalPERS website:
"In addition, for the 2020 calendar year, there is a cap on pensionable compensation of $126,291 for members who participate in Social Security and $151,549 for members who don't. Both limits are subject to increases in the Consumer Price Index"

He/she (Dave's city manager/ city treasurer) was already employed by a CALPERS Member (city/county/State) Agency prior to January 1, 2013 when the Public Employees Pension Reform Act kicked in.

In other words, they were both grandfathered in, like I was.

I retired from CALPERS in late 2014. In 2015 I sold all of my SoCal RE (including my 5,013 sq ft custom home that DAEPP poured the foundation for) and fled to my hometown of Cincinnati.

Sammy and Hugh convinced me that CALPERS was going to fail, Trump would pee on California as it circled the drain, and I would end up homeless and destitute, full of regerts...

Luckily, Joe Biden "won". So although I voted for Trump/Pence, I'm now Ridin' with Biden and he will see to it that CALPERS is propped up for the next 15 or 20 years.

DL

[3rd_gear_Ted]

Originally Posted by biosurfer1

I wish I would have found dividend growth investing sooner.
It's certainly not a perfect investing strategy but the consistent, reliable income will make retirement so much easier to prepare for.

It takes a while for the snowball to really get going but once it does, all you can think is "if I just started doing this a year earlier, imagine where I'd be!" But that's mostly for all kinds of investing

I AM PROUD TO BE A D.R.I.P. (Dividend Re Investment Program)

Last time I checked No one quit drinking Coca Cola( Dividend Yield 3.11%) or smoking cigarettes (British American Tobacco, dividend yield of 7.43%) together about 5.0% avg. yield with a diversified play

[KFC911]

DRIPs .... decades ago, that's how I started in equities... way before the Internet, online borokerages, etc.

Directly with the corps back then... 3 of them ... $50/$100 into them each month ... a slow & steady way to build equity starting from nada . Highly recommended ... but I switched tracks along the way. At my age now, I prefer bond yields instead .

[stevej37]

My drip stock is in my states utility....a solid, reliable company.
Purchased a couple hundered dollars worth 25 years ago @$7/share.
Through the reinvestment program...I now have two thousand shares...and the share price is over $60

[daepp]

Originally Posted by CalPersFatCat

He/she (Dave's city manager/ city treasurer) was already employed by a CALPERS Member (city/county/State) Agency prior to January 1, 2013 when the Public Employees Pension Reform Act kicked in.

In other words, they were both grandfathered in, like I was.

I retired from CALPERS in late 2014. In 2015 I sold all of my SoCal RE (including my 5,013 sq ft custom home that DAEPP poured the foundation for) and fled to my hometown of Cincinnati.

Sammy and Hugh convinced me that CALPERS was going to fail, Trump would pee on California as it circled the drain, and I would end up homeless and destitute, full of regerts...

Luckily, Joe Biden "won". So although I voted for Trump/Pence, I'm now Ridin' with Biden and he will see to it that CALPERS is propped up for the next 15 or 20 years.

DL

Haha - We've certainly poured a lot of foundations, for sure. We must have discussed this at some point - too funny.