For Those Of You Who Think You'll Never Receive...

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Fredkrueger100

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Fear sells. SS isn't going anywhere.
I sure hope your right. If my wife and I are still alive when we would be eligible to draw and it doesn’t exist anymore all we will have is our 401K’s. I put 10% and my wife currently puts 8% but even still. With the way our country is heading our economy is going to tank again. My company has a profit sharing plan as well and I can buy stock at a discount. We used to have a pension but they did away with it a couple years before I started unfortunately. Sadly I worked for my company before back in 2003 and quit like a dang fool. I would have almost 17 years and be under our pension had I not quit. I try not to think about it because it makes me sick. But I am thankful to be with the company now. I just pray our 401k’s do great and we will have plenty to retire on when we are in our early 60’s.
 

John6185

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I'm old enough to have a pension but some of the younger folks don't have because they began eliminating the retirement pensions at a lot of corporations I think back in the early or late eighties. I have heard from one of the nurses at the VA Hospital in OKC that the VA is going to do away with retirements-they'll depend solely on their 401K's. Finding a company that does have an employee retirement is rare these days. Profit is top dog.
 

p238shooter

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Let's see here. SS that we paid into all our working lives will be going broke in a few years but we have unlimited funds to give the illegal's perks coming into our country for support. Hummm
 

Chief Sapulpa

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...all we will have is our 401K’s. I put 10% and my wife currently puts 8%...We used to have a pension but they did away with...
I have a small pension from a previous job; enough to pay the light bill every month.
My current employer does not have a pension plan but they do match 25% of 401k contributions; no that's not a typo. Needless to say I'm maxing out my contributions every year.
 

BReeves

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The trick for us common folk is to have everything paid off when you retire. Wife and I are doing pretty well on SS but only because we have two fairly new vehicles and a house that are all paid for. Between divorces and a failed business we didn't do well in planning retirement income but was smart enough to make sure we didn't have anything but living expenses going out when we did finally retire.
 

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