<p>“My Mom was a NYC teacher who retired over 20 years ago. Her portfolio is now close to $1.4m (down $200k from last year) and her monthly benefits are a healthy $6k a month - she doesn’t need to touch the portfolio at all, so it keeps rolling over. She recently came back from a cruise that passed through Cape Horn and got to see the melting glaciers first hand. She called it okay, but a “been to”. And, she’s been all over Africa, and Asia - not too crazy about Europe - too ordinary for her. She sure hated teaching tho, so it’s nice to see her enjoying the benefits The union sure knows how to do its job up there, and the schools are a whole lot better than down here.”</p>
<p>Sounds like my mother’s twin. Cruises two or three times a year. Hubby is a retired pharmacist. Between them they are multimillionaires. Meanwhile, the median individual retires with little more than Social Security (and has that thanks to immigrants paying huge amounts into Social Security year afrer year without ever collecting, and African-Americans - especially males - dying before they can ever collect a penny, in a massive wealth transfer.)</p>