Quote:
Originally posted by robustpuppy
How does a pension cause that, rather than just salary? If someone can get away with doing the minimum because s/he's no longer concerned about promotions, etc., then why would a pension change that, assuming the person is not in a position to earn more money toward retirement by billing or selling a lot and earning big bonuses?
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I think the pension creates a sense of security. You watch it grow over years and it becomes the post retirement lifeline. Its "safe," whereas the account you have with your broker isn't psychologically seen as such a safe lifeline. Partly, my impression stems from hearing people I know gush about how they have it made based on their pensions. In these parts, people brag about moving from DE to PA when they get pensions for tax reasons. Its viewed as a safety net. And frankly, I think safety nets are bad things. They stunt growth and ambition. People don't take as many chances. But I guess you could say, when looking at the housing market, maybe its not such a good thing for Americans to take chances.
