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Comments about ‘Comparing the average Joe's retirement to members of Congress’

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Published: Monday, Aug. 5 2013 12:30 p.m. MDT

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Blitz Chomney
Holladay, UT

Good article, but the 5% fee on 401k investments and such seems rather high. Plenty of high-performing mutual funds that are actively managed have fees between 0.5% and 1%, which would put costs between $5 and $10 per $1,000 invested (clearly not as good as 27 cents but certainly much better than $50).

splitme2
West Jordan, UT

The problem is 'the average Joe' are the people paying for the federal benefits for congress, etc. That's why we can't retire like we would like.

Obama10
SYRACUSE, UT

I laugh every time I hear a politician "profess" to being a "public servant" and providing service to their constituents. This is a farce!!! Politicians routinely become multi-millionaires while serving in Congress. From pauper to millionaire is the story of Congress. If this was true service, they would be paid the median wage from their state. Then lets see how many of them sign up to "serve". Hypocrites.

worf
Mcallen, TX

Our retirement are delayed while paying for IRS conferences, Obama vacations.

Z
South Jordan, UT

Failing to plan for something is not the same as not being able to do something. Most working Americans have the ability to save for retirement, but few have shown the willingness to defer today's big screen purchase for tomorrow's security.

This is the reason that the default option for 401(k) plans was changed several years ago from 'opt in' to 'opt out'. This at least gives the average employee a fighting chance of saving SOMETHING.

SCfan
clearfield, UT

These politicians sure know how to feather their own nests with our money. What a racket.

Mark from Montana
Aurora, CO

My retirement fund was destroyed in 2009. My only hope now is that I will die before I am no long physically able to work.

Mark from Montana
Aurora, CO

@SCFan

Did you vote for Mike Lee or Jason Chaffetz or any other incumbent in the last election?

All who vote to reelect any politician need only look in the mirror to see where the fault lies, myself included.

@ Obama10

I could not agree more with you. The only 'public servants' are those that volunteer their time. All others earn a wage and are filling a job. They are employees, nothing more or less. There is nothing altruistic about them in the least. In particular members of congress, the president and any senior officials.

Hutterite
American Fork, UT

I'm not sure what the actual intent of an article comparing congressional retirement versus 'average joe' retirement would be. I hope it wasn't just to exacerbate an existing hatred of government by taking a cheap and easy shot, and pointing out what pretty much everyone already knows.

worf
Mcallen, TX

@Hutterite--You're right. We should just let it go. Silence is golden.

isrred
South Jordan, UT

"From pauper to millionaire is the story of Congress"
Oh please, don't fool yourself. None of these people were paupers before getting into office. They were already wealthy and well connected or they wouldn't have been elected in the first place.

yarrlydarb
Ogden, UT

The perks that congressmen and senators are so numerous and costly that they are indeed the biggest recipients of "welfare" than any other and group of citizens in the country.

As a group, they quickly seem to develop the attitude that the public citizenry work for them, rather than vice versa.

It makes no difference what political party they represent, they see themselves as having the power and the right to vote for important issues solely as they please, rather than doing what they were elected to do; i.e., to vote according to the view of their constituents.

Rather than representing the people they were place in office to represent they kowtow to either big business or big government.

They view themselves as above the law (exempted from Obamacare and Social Security, for example) and are therefore no different than royalty.

Obstructionism in the halls of Congress has gotten so bad the past twelve years or so, I am less and less able to find any way at all to respect them.

carman
Wasatch Front, UT

Congress is a total of a few hundred people. It matters, but not that much.

The real take-away from the article is that you can retire nicely, but you will have to prepare on your own. If you are young, save a minimum of 10% of your income every paycheck, invest it wisely in high quality stocks. If you are older, and behind the pitch, you may have to save much more.

Apologies if this sounds harsh, but if you are behind the pitch, in most cases it is your own fault - not the fault of your employers or the government. Instead of complaining about it, adjust your lifestyle and get saving. Also, take the time to learn how to invest wisely. If you don't know much, this will take a significant effort, but it will be worth it. If you already are a bit financially savvy, the process will be easier and more fun. But whatever you do, don't just throw up your hands and give up, or sit around blaming others. Do something about it. In a few years, you will be grateful you did.

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