RE: No retirement

Krys,

This is coming from a person who accumulated personal loans to pay for
school and paid it back in full.  The real problem is not the number of
people who default on the loans, but the rules regarding their payback.
For example, if you have tried to pay a GSL for "X" number of years (I
think it is 10 years) and you still have a balance, the note gets
dropped.  It is actually better for students to accumulate as much debt
as possible on a GSL because they won't have to pay it all back.  That's
where the problem lies!  If your daughter needs extra money, it is easy
to find part-time work on campus. 

Richard Brown
TrailBlazer Systems, Inc.
http://www.softwarejungle.com
(770)850-6966

> -----Original Message-----
> From: Krys Theodore [SMTP:ktheodore@marksbros.com]
> Sent: Monday, November 30, 1998 12:13 PM
> To:   'MIDRANGE-L@midrange.com'
> Subject:      RE: No retirement
> 
> Actually, I was joking.  My daughter's account was set up when she was
> 3 
> mos old.  My point was that the rate that colleges are going, the cost
> of a 
> school will far outweigh what most people have in mind when they start
> up 
> their plans.  The loan program is already dried up (according to a
> relative 
> who is going through the situation now) for anyone in the middle to 
> upper-middle class, because of all of the people who defaulted on
> their 
> loans.  Any of you out there?
> 
> ----------
> From:         Carl Galgano[SMTP:cgalgano@ediconsulting.com]
> Reply To:     MIDRANGE-L@midrange.com
> Sent:         Wednesday, November 25, 1998 4:41 PM
> To:   MIDRANGE-L@midrange.com
> Subject:      Re: No retirement
> 
> Richard:
> I agree with you.  When both my sons were born I set up accounts at
> mutual
> fund companies for them and contribute a small amount every month.  I
> do
> this in addition to planning for my own retirement.  I am amazed how
> much
> money there will be for these kids educations.  Sure, the markets been
> great, but I believe the plan is as important as the economy.  I'm
> with Don
> and hope to retire young.
> Carl
> -----Original Message-----
> From: Rich Brown <RBrown@softwarejungle.com>
> To: 'MIDRANGE-L@midrange.com' <MIDRANGE-L@midrange.com>
> Date: Wednesday, November 25, 1998 4:10 PM
> Subject: RE: No retirement
> 
> 
> >I have been ignoring this thread until this email message.  It takes
> at
> >least 18 years for a child to make it to college from their birth,
> and
> >if you have not saved the money for them to go to college (which I
> >acknowledge is difficult) then it is your fault.  Why would you pay
> for
> >their college education from your retirement savings?  If you decide
> to
> >do that, the fair thing to do is insist that your child should take
> of
> >you after you retire since you paid for their college education from
> >your retirement savings.
> >
> >Richard Brown
> >TrailBlazer Systems, Inc.
> >http://www.softwarejungle.com
> >(770)850-6966
> >
> >> -----Original Message-----
> >> From: Krys Theodore [SMTP:ktheodore@marksbros.com]
> >> Sent: Wednesday, November 25, 1998 1:17 PM
> >> To: 'MIDRANGE-L@midrange.com'
> >> Subject: RE: No retirement
> >>
> >> As I have gotten older, I have become more concerned about this
> issue.
> >> I
> >> don't think that I have an option at this point.  I will be closing
> in
> >> on
> >> 60 when my daughter gets out of college.  I expect that will take
> most
> >> of
> >> my savings.  While I will never regret my 'late-in-life' child, I
> >> would
> >> love to know how I will ever be able to retire.
> >>
> >> ----------
> >> From: HankHeath@aol.com[SMTP:HankHeath@aol.com]
> >> Reply To: MIDRANGE-L@midrange.com
> >> Sent: Wednesday, November 25, 1998 9:36 AM
> >> To: MIDRANGE-L@midrange.com
> >> Subject: No retirement
> >>
> >> I've been reading recently that a lot of the baby boomers in the
> U.S.
> >> are
> >> coming to an astounding deduction: they may not be able to retire.
> >> Government
> >> assistance such as Social Security is unsupportable and too little,
> >> too
> >> late.
> >> The baby boomer generation has had to speculate on real estate,
> which
> >> has
> >> not
> >> shown the returns they need to settle into a retirement home. They
> >> have had
> >> children late in life, whom they now have to support through
> college
> >> and
> >> more.
> >> Pension plans  and savings have not been well managed. Inheritances
> >> are
> >> over-
> >> taxed. In other words, there is little left to take to the sunny
> >> beaches of
> >> retirement.
> >>
> >> For a person like my self, this is not a major problem. I have
> always
> >> loved
> >> work, and planned to stay on board until someone kicked me out of
> the
> >> organization. However, I am curious as to how this retirement
> scenario
> >> is
> >> viewed by Midrangers? What do you folks plan on doing?
> >> +---
> >> | This is the Midrange System Mailing List!
> >> | To submit a new message, send your mail to
> MIDRANGE-L@midrange.com.
> >> | To subscribe to this list send email to
> MIDRANGE-L-SUB@midrange.com.
> >> | To unsubscribe from this list send email to
> >> MIDRANGE-L-UNSUB@midrange.com.
> >> | Questions should be directed to the list owner/operator:
> >> david@midrange.com
> >> +---
> >>
> >> +---
> >> | This is the Midrange System Mailing List!
> >> | To submit a new message, send your mail to
> MIDRANGE-L@midrange.com.
> >> | To subscribe to this list send email to
> MIDRANGE-L-SUB@midrange.com.
> >> | To unsubscribe from this list send email to
> >> MIDRANGE-L-UNSUB@midrange.com.
> >> | Questions should be directed to the list owner/operator:
> >> david@midrange.com
> >> +---
> >+---
> >| This is the Midrange System Mailing List!
> >| To submit a new message, send your mail to MIDRANGE-L@midrange.com.
> >| To subscribe to this list send email to
> MIDRANGE-L-SUB@midrange.com.
> >| To unsubscribe from this list send email to
> MIDRANGE-L-UNSUB@midrange.com.
> >| Questions should be directed to the list owner/operator:
> david@midrange.com
> >+---
> 
> +---
> | This is the Midrange System Mailing List!
> | To submit a new message, send your mail to MIDRANGE-L@midrange.com.
> | To subscribe to this list send email to MIDRANGE-L-SUB@midrange.com.
> | To unsubscribe from this list send email to 
> MIDRANGE-L-UNSUB@midrange.com.
> | Questions should be directed to the list owner/operator: 
> david@midrange.com
> +---
> 
> +---
> | This is the Midrange System Mailing List!
> | To submit a new message, send your mail to MIDRANGE-L@midrange.com.
> | To subscribe to this list send email to MIDRANGE-L-SUB@midrange.com.
> | To unsubscribe from this list send email to
> MIDRANGE-L-UNSUB@midrange.com.
> | Questions should be directed to the list owner/operator:
> david@midrange.com
> +---
+---
| This is the Midrange System Mailing List!
| To submit a new message, send your mail to MIDRANGE-L@midrange.com.
| To subscribe to this list send email to MIDRANGE-L-SUB@midrange.com.
| To unsubscribe from this list send email to MIDRANGE-L-UNSUB@midrange.com.
| Questions should be directed to the list owner/operator: david@midrange.com
+---