Monday, October 10, 2011

I am a 99 Percenter

I am a 99%'er. I am retired in December 2005 from a 32 year career with the federal government, 4 years with the USAF during the Vietnam war and 28 years with the U.S. Geological Survey. My post-retirement plan was to start and build a small, personal photography business and develop a photography guide to Mt. Rainier NP, first a Website, then a general guide book and then some iphone/ipad apps.

I was doing fine until the recession when the cost of the work start to strip my savings I set aside for my business. And then President Obama froze the annuities of all federal retirees starting in 2010 and will last through 2012 and likely through at least 2014 as both parties fight for political advantage making us fodder.

But in the last two years, while my annuity is frozen the cost of living, namely health, auto and other nsurance, rent, utilities, food, etc. has increased 8-10% per year and will continue, I'm not getting any increases in my annuity to help. Simply put, I'm losing money quickly.

To compensate I'm eating through my retirement savings I had for my business, life and emergencies, and in a few years it will be down to its minimum. To compensate I use my credit, and it's increasing faster than I can pay it down. Yes, I created it, but it was with the plan I could afford it, or thought so in 2009 when things looked reasonable.

While I'm still somewhat solvent, if things don't change, like the economy and getting increases to my annuity to overcome the losses and pay for the cost of living, I will be in serious financial trouble in a few years. Just like everyone else in my situation. And then what will I do?

I will join the poor who live month to month and hope nothing serious or major happens to me because I can't afford it. The reality of a good retirement is gone now, thanks to President Obama and the Democrats for not standing up for us and not fighting the Republicans.

So what will you do Mr. President? What will you do for us?

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