Quote:
Originally Posted by dd74
Five of my H.S. classmates now work for the City of L.A. Another five went to Ivy League schools. Assets, of the ten, seem almost to be even. Five of them get off at 5PM on the dot. All ten drive nicely-appointed German cars to single family dwellings.
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Does LA have those crazy pensions and lifetime free health insurance?
If so, your city friends are way ahead of your Ivy friends. To duplicate the pension and health insurance, your ivy friends would have to save a bunch of money, and make some very good investments to duplicate that pension and health insurance.
That pension and health insurance is the equivalent of owning many, many apartment units, free and clear (except without the headache and risk). That's what your ivy friends would have to do to generate that kind of passive income after retiring.