How is retirement treating you??????

[Junkman]

The other post about winning the lottery has been interesting, however, in reality, how is retirement treating you? Are you getting from your pension what you had been promised? Here is a good article to read before answering. read about pensions here......

 

[Bird]

</font><font color="blue" class="small">( Are you getting from your pension what you had been promised? )</font>

Yes, I am, as far as the monthly cash amount. But I am not getting anywhere near the health insurance coverage that was promised.

 

[Cityboyfarmer]

I'll let you know in 15 - 20 years. I know it is going to be mostly up to me to provide most of my own resources and I started saving for retirement when I was 23. Not too many generous pensions out there any more and who knows what is going to happen to Social Security. I'll just keep maxing out the 401K every time the limit increases, keep paying down the mortgage till its gone, having fun in the mean time and see what happens when I enter the hallowed halls of geezerdom.

 

[ronjhall]

I officially retired October 1 last year. Having read similar articles about pension shortfalls and other problems, I took a buyout and rolled over my 401K into investments. Glad I was in a position for the buyout. So far, I have made good decisions on how to keep the money in my possession. Who knows what the future will bring. However, at this time I am doing better than I thought I would. /forums/images/graemlins/cool.gif

 

[Deerlope]

My pension is everything and more that I excepted. My medical ins is good also. Best job that I ever had.

 

[Golfgar4]

I'll have to get back to you on this one Junk. Having just retired 20 days ago, I don't feel qualified to answer that question properly.

As long as everything comes through the way it is intended, I'll have no complaints. We have a solid retirement package through the state, and I really can't beat my health insurance plan. Well, I guess I could if I didn't have to pay anything into it. But after seeing what a lot of other people are paying for their health insurance, I am definitely NOT complaining! /forums/images/graemlins/smirk.gif

 

[RonL]

Junkman

What Enron did to their employees in one fell swoop, other companies are doing on a long term basis. American workers are the hardest working group in the world and it seems that the brass ring just keeps getting further and further away.

I have neighbors that are recent immigrants from Europe. They tell me that they are amazed at how much Americans work.

The worker is the one fueling the economy. If their prospects for the future darken, the worm will turn.

RonL

 

[ronjhall]

<font color="blue"> Well, I guess I could if I did not have to pay anything into it. </font>
I have to pay into my health care also. Being around many auto company employees they always bring up that they do not have too much. I think that is going to change in the future. /forums/images/graemlins/frown.gif

 

[Egon]

Pension plan is delivering all promised. Excellent heath - dental benifits.

Course the dollar value of my yearly income is down by 50k so a few " minor " life style adjustments have been in order.

 

[riptides]

My companies pension plan just semi-dissolved itself. We are on that listing you provided.

I get what I have and that is it. Luck would have it that many, many years ago I followed what happened to Pabst Blue Ribbon's pensioneers. I saw that as a trend that would allow other companies the same course. It seems, unfortunately so, that more companies will seek to "offer" pension alternatives.

We tooks steps to make the most out of not relying on others to provide for our "retirement". That includes SS and any "pension" plan.

Time will tell if those were right moves..... but I am not worried about it as I am having too much fun, right now.

-Mike Z. /forums/images/graemlins/grin.gif

 

[BB_TX]

I've still got about 2 1/2 yrs before retirement. But I won't have to worry about a pension plan. We don't have one. But I am not sure if that is good or bad. The company that once owned us had a pension plan. But when they sold us 20 yrs ago, the new owner did not. But they started a 401K with a pretty generous contribution plan and it has done quite well. And the former owner has teetered on the edge of bankruptcy for years. Don't know how well their pension is protected. The 401K plus other investments should provide a pretty decent retirement. The downside of course is I have to pay for insurance.

 

[EastTexFrank]

</font><font color="blue" class="small">( <font color="blue"> They tell me that they are amazed at how much Americans work. </font> )</font>

I'd agree with that ... and they have a completely different attitude towards it.

I always tease my son who works for Shell in the UK. He is a production supervisor offshore. His work schedule rotation is 2 weeks on the platform and 3 weeks off, 2 weeks on and 3 weeks off, 2 week on and 6 weeks off ... that's right, 6 weeks off. It seems that by law, they have to work the equivalent of a 40 hour week. That's just not the same oilfield that I spent my life in. I mean that it's not even like it's a job. It's more like something to break up your vacation.

By the way, I love retiement. If I'd known it was going to be this much fun, I probably wouldn't have started work at all. Certainly our lifestyle has changed a lot. We have good health coverage, although it isn't cheap, and not nearly as much ready cash as we had when we were both working but you know, I don't miss the Bimmer or the Jag one little bit, nor all the other things that we used to think were so essential. My wife and I had some good, good times in the 26 years of our marriage and I wouldn't trade the memories for anything but I don't think we have been so consistently happy as we are now. The last 8 years since we moved to this place and retired have been fantastic. I hope it lasts another 40 years.

 

[pajoube]

So far retirement is very good but beware of the following:
1. I am spending 110 percent of what I made /forums/images/graemlins/mad.gif
2. Health insurance is becoming more and more up to me.
3. I took out lump sum which was very good.
4. 401 was at full amount during working period.
Should have to go back to work in 25 years to survive /forums/images/graemlins/tongue.gif
PJ

 

[edski]

</font><font color="blue" class="small">( How is retirement treating you?????? )</font>

It's playing hard to get.
...but 2016 is right around the corner /forums/images/graemlins/frown.gif

 

[sneaky_pete]

I don't plan to retire per se; I love what I do and how we're living, and I'm only working part-time (most of the time) now anyway. We have very little debt and I've been saving in 401(k)'s and SEP IRA's, but when the rest of the kiddos are schooled and married off or whatever then I'll probably cut down on my working hours some more, and maybe move back to the mountain west. I've never depended on anyone's defined benefit pension plan to cover me - too risky IMO.

 

[r0GuE]

How's 2040 sound? /forums/images/graemlins/shocked.gif

35 miles a day commute x 255 days a year x 35 =
312,375 commuter miles from retirement
/30 MPG x $2.50/gallon= $26,031 of fuel from retirement /forums/images/graemlins/wink.gif

****.. My back or liver will give out before then. Enjoy it boys! I truly do not think retirement is a reality for young workers today. The 20th Century (in my opinion) will be the only generations to have known this luxury. /forums/images/graemlins/frown.gif

In fact, I'll likely find a slick politician has pushed me out to 2045 by the time I get to that point. If I had the $$, I'd save it and try to make my own retirement..

 

[hazmat]

My employer is on that list... /forums/images/graemlins/mad.gif

There was an article in the Boston Globe a few weeks back that described how employers were phasing out pensions by not offering them to new employees. I'm "vested" now, so If they really shut it down, I'm sure I'll get a DEEPLY discounted present value payoff /forums/images/graemlins/mad.gif /forums/images/graemlins/crazy.gif

Guys who are retiring now with 20-30 years in are getting a sizable amount. With Soc Sec - they are replacing >60% of their income - before touching any other savings (we have a 401K too) Assuming that their house is paid for, that's a nice income stream. Of course it isn't indexed for inflation...