Dear Ric,

I very much respect your opinions on financial information. I have partially read one of your books, wish I had more time to read and occasionally listen to your Saturday show when I can.

I am 63 and like many of us, I am uncertain about our future from a financial standpoint due to our national debt. Fortunately I work for what I believe is one of the best run companies in the US where at this point we are valued as employees. We still have a defined benefit pension and they match $ for $ on the first 6% in our 401 K. I will not have medical in retirement as I left for 17 months but came back and when I retire at 66 ½ I will have a total of 37 years with the company. Despite this I am concerned.

However, I take exception to the discussion you had with a caller (lady) from I believe Long island who is 51 and works for the county or city. She wanted your opinion on whether she should retire at 51 because she could immediately start collecting 60% of her salary as pension and will have full healthcare benefits for life. You asked her a bunch of questions regarding what other assets she had, whether she owned her own home etc. I believe the conclusion you made was it looked pretty could to you and she should go for it.

I thought about what you said and have been fuming ever since. Not because your advice wasn’t correct for her situation and not because your Saturday show would discuss what you may really think. Are you confused by me right now?

What I am fuming about and I guess what your show on Saturday would not get in to is some of the obvious facts from this lady and the overall issues with towns, municipalities, cities, counties, states and our federal government. Here goes:

1. She is 51 and will start collecting 60% of salary ($50,000 a year) as pension and get full healthcare immediately. Must be nice. It is not her fault, it is the benefit.
2. Her $50,000 a year pension means her salary now is around $83,000 ($50K divided by 60%). Her salary now isn’t too bad compared to many other 51 year olds.
3. Keeping 1. and 2. in mind, you couldn’t comment on the fact unless she is police, fire or EMT, no governmental employees should start collecting full benefits for life at 51 when the rest of us cannot do it. All these governmental entities will never be able to keep these lavish benefits now or in the future. Who pays all of this, the taxpayers? And who will be the ones who will pay higher taxes so that these union and non-union governmental employees can continue to receive these benefits for life, yes us taxpayers.

Do you ever discuss issues like this on Saturday? Perhaps you agree with me or not. The fact is we cannot afford it and if these governmental entities don’t change we are done financially as a country. Obama and his army are socialists and we are slowly losing our freedoms.

I do not expect you to respond or discuss my comment on your show. Just wanted you to know my thoughts.

Thank you.