What is your net worth if you are 55 years of age

[Anonymous]

Anonymous wrote:Interesting on the pension. The poster said only one person working. I think law enforcement that is on the front line (not sure of the terminology but carry weapons) gets a significantly higher pension than regular government employees.

Also, maybe a partner in big 4 accounting, Fortune 5, or the likes??

IFC/WB/IMF plans for those joining before 1998 guaranteed 70% of gross income at retirement. A one income household could mean one of these folks making 250K just before retirement (which is not even the maximum scale for international orgs). I know several families where each spouse was making 340K max salary and they retired each with this pension

[Anonymous]

Anonymous wrote:

Anonymous wrote:Interesting on the pension. The poster said only one person working. I think law enforcement that is on the front line (not sure of the terminology but carry weapons) gets a significantly higher pension than regular government employees.

Also, maybe a partner in big 4 accounting, Fortune 5, or the likes??

IFC/WB/IMF plans for those joining before 1998 guaranteed 70% of gross income at retirement. A one income household could mean one of these folks making 250K just before retirement (which is not even the maximum scale for international orgs). I know several families where each spouse was making 340K max salary and they retired each with this pension

Forgot to add: many of these folks were foreign nationals/turned US citizens at retirement, or going back to their countries. None of them were US attorneys, doctors, Big 4 auditors, SVPs of large companies. Most were folks with degrees from their countries former regulators from Turkey, Bulgaria etc (e.g. ex deputy department chief in a Ministry of Finance or similar), pretty average folks with connections that got them into the WB via their country office, and then transferred to HQ. It's a very cushy life and none produced anything valuable for developing countries beside the reports that nobody reads. Partying, cheating, drinking at missions is also very common. International financial orgs don't like talking about it, but income from lending to developing countries is in fact a very small portion of their business. By at large they make money managing their huge assets/contributions from member countries

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Interesting on the pension. The poster said only one person working. I think law enforcement that is on the front line (not sure of the terminology but carry weapons) gets a significantly higher pension than regular government employees.

Also, maybe a partner in big 4 accounting, Fortune 5, or the likes??

IFC/WB/IMF plans for those joining before 1998 guaranteed 70% of gross income at retirement. A one income household could mean one of these folks making 250K just before retirement (which is not even the maximum scale for international orgs). I know several families where each spouse was making 340K max salary and they retired each with this pension

Forgot to add: many of these folks were foreign nationals/turned US citizens at retirement, or going back to their countries. None of them were US attorneys, doctors, Big 4 auditors, SVPs of large companies. Most were folks with degrees from their countries former regulators from Turkey, Bulgaria etc (e.g. ex deputy department chief in a Ministry of Finance or similar), pretty average folks with connections that got them into the WB via their country office, and then transferred to HQ. It's a very cushy life and none produced anything valuable for developing countries beside the reports that nobody reads. Partying, cheating, drinking at missions is also very common. International financial orgs don't like talking about it, but income from lending to developing countries is in fact a very small portion of their business. By at large they make money managing their huge assets/contributions from member countries

Oh look it’s the World Bank hater again. Stop spreading lies. My friend has a top position there, very long hours, no partying, no cheating, and yes, the work matters. Shame on you, PP.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Interesting on the pension. The poster said only one person working. I think law enforcement that is on the front line (not sure of the terminology but carry weapons) gets a significantly higher pension than regular government employees.

Also, maybe a partner in big 4 accounting, Fortune 5, or the likes??

IFC/WB/IMF plans for those joining before 1998 guaranteed 70% of gross income at retirement. A one income household could mean one of these folks making 250K just before retirement (which is not even the maximum scale for international orgs). I know several families where each spouse was making 340K max salary and they retired each with this pension

Forgot to add: many of these folks were foreign nationals/turned US citizens at retirement, or going back to their countries. None of them were US attorneys, doctors, Big 4 auditors, SVPs of large companies. Most were folks with degrees from their countries former regulators from Turkey, Bulgaria etc (e.g. ex deputy department chief in a Ministry of Finance or similar), pretty average folks with connections that got them into the WB via their country office, and then transferred to HQ. It's a very cushy life and none produced anything valuable for developing countries beside the reports that nobody reads. Partying, cheating, drinking at missions is also very common. International financial orgs don't like talking about it, but income from lending to developing countries is in fact a very small portion of their business. By at large they make money managing their huge assets/contributions from member countries

Oh look it’s the World Bank hater again. Stop spreading lies. My friend has a top position there, very long hours, no partying, no cheating, and yes, the work matters. Shame on you, PP.

I work there myself (and former spouse twice divorced both times philandering on bushes trips, eventually got terminated). Won’t put it here but many top managers are not exactly good examples (multiple marriages, spouses former consultants or subordinates transferred to other divisions to at least create an appearance of ethics). There is a very common phenomenon - the WB spouses family, at a much larger scale than feds and other large companies. How do you think all these people met and became spouses?