Do You Have a Pension?

Collarspace Discussion Forums

Home Login Search

Do You Have a Pension?

View related threads: (in this forum | in all forums)

Logged in as: Guest

All Forums >> [Casual Banter] >> Off the Grid >> Do You Have a Pension?

Page: [1]

Login

Message

<< Older Topic Newer Topic >>

Do You Have a Pension? - 11/12/2007 5:58:11 PM

pinksugarsub

Posts: 1224
Status: offline

What financial planning have Y/you been able to do for retirement? Did Y/you visit any skilled professional or rely solely on Y/your Human Resources Dept.?

If Y/you are moving forward with Y/your plan, what happens if Y/you leave Y/your employer tomorrow?

My pension plan called for 10 year vesting and i didn't make it. It has since been changed to 5 year, but the change was not made retroactive. i need a few months more employment to vest and don't realistically expect to do so.

i have watched the erosion of pension and health care benefits for current and future retirees and wonder what will happen? At least i can rely on the exisiting social security system, but my UM cannot.

Interested to hear any responses, without of course asking for any disclosure of financial characteristics of specific members.

pinksugarsub

_____________________________

Post #: 1

RE: Do You Have a Pension? - 11/12/2007 6:27:34 PM

popeye1250

Posts: 18104
Joined: 1/27/2006
From: New Hampshire
Status: offline

Yup, I get the "Kiss in the Mail" every month from Uncle Sam.

_____________________________

"But Your Honor, this is not a Jury of my Peers, these people are all decent, honest, law-abiding citizens!"

(in reply to pinksugarsub)

Post #: 2

RE: Do You Have a Pension? - 11/12/2007 6:27:50 PM

Owner59

Posts: 17033
Joined: 3/14/2006
From: Dirty Jersey
Status: offline

Nope.

Did neither,I`m self employed.

Don`t know.

At least i can rely on the exisiting social security system, but my UM cannot.

Don`t worry about that.It`ll get fixed,and you`ll see that ,over the next 10-20 years.The doomsday stories are coming from people who don`t want SS in the 1st place.Don`t let them scare you.

Not sure what`s available to you,but my dad`s investment guy says,diversify and go with long term,guaranteed investments.Stay away from high return/risky stuff.

(in reply to pinksugarsub)

Post #: 3

RE: Do You Have a Pension? - 11/12/2007 6:34:48 PM

subrob1967

Posts: 4591
Joined: 9/13/2004
Status: offline

I'm semi retired & I have a military pension, I also have a nice chunk o change put away from the sale of my business three years ago.

If I stay with my current employer (working for health insurance, don't need the salary) and take advantage of their 401K program & company match program, in 20 years I could bank another healthy chunk o change.

(in reply to Owner59)

Post #: 4

RE: Do You Have a Pension? - 11/12/2007 6:38:06 PM

LuckyAlbatross

Posts: 19224
Joined: 10/25/2005
Status: offline

Considering a large portion of my job is in working with DB and DC plans, I'd say feel lucky your company still HAS a DB plan- they will soon be extinct and plenty of places are just cancelling them completely.

I've had five people under 30 in the past year just cash out their lump sums- only 20% vested. Car payments, medical bills. It takes months to get the paperwork and approvals to get that money out, and then it's all gone. Who knows what it could have been in 40 years by the time they REALLY need it.

Everyone needs to NOT count on any system other than their OWN finances to keep them fed and sheltered into whatever they choose for retirement.

_____________________________

Find stable partners, not a stable of partners.

"Sometimes my whore logic gets all fuzzy"- Californication

(in reply to subrob1967)

Post #: 5

RE: Do You Have a Pension? - 11/12/2007 7:17:14 PM

petdave

Posts: 2479
Status: offline

quote:

ORIGINAL: LuckyAlbatross
Everyone needs to NOT count on any system other than their OWN finances to keep them fed and sheltered into whatever they choose for retirement.

i hear that. Everything is stock market this, stock market that... the stock market is like betting on a horse race where you not only don't get to see the race, but you have to take somebody's word for it that there even ARE horses. Poop on that. i buy guns and tools. If you can't lay hands upon it, you can't rely on it.

Of course, in the broader scheme of things my retirement plan is largely based on my family history of dying young

Takes a lot of the stress out of things, really.

< Message edited by petdave -- 11/12/2007 7:53:53 PM >

(in reply to LuckyAlbatross)

Post #: 6

RE: Do You Have a Pension? - 11/12/2007 9:38:23 PM

maybemaybenot

Posts: 2817
Joined: 9/22/2005
Status: offline

I have a small pension from one of my earlier jobs. I was vested after 5 years.

I have had a 401K for the last 18 years, which I have rolled over into my current one. I currently contribute 15% and increase that amount 1-2% each depending on my annual raise. I also have Certs of Deposit which are yeilding about 4.78% and I roll them over as they are up. I add about $500-750/year of my income tax return to them each year.

I don't have a whole lot of faith that the SS system will provide for me, as I near retirement. I also do not want to wait until I am 68 to retire and would like to work about 30 hours once I reach age 60-62. Hopefully if my calculations <and my accountants' > are on track, I will be OK even if SS changes.

mbmbn

_____________________________

Tolerance of evil is suicide.- NYC Firefighter

When tolerance is not reciprocated, tolerance becomes surrender.

(in reply to petdave)

Post #: 7

RE: Do You Have a Pension? - 11/13/2007 2:50:08 AM

LadyEllen

Posts: 10931
Joined: 6/30/2006
From: Stourport-England
Status: offline

This guy came to the office once when I was in my early twenties. He brought with him a sack which was weighed down with something inside. He held it up proudly and announced to me that I could have all the gold in the sack when I reached sixty years of age, if I agreed to pay him a hundred pounds a month from now until then.

When I asked to see inside the sack, he told me I couldnt. When I asked to weigh the sack, I couldnt. When I asked to feel what was in the sack, that too was not possible. But, he assured me, it was full of gold and it would all be mine for just a simple monthly payment.

I dont think so. An old English proverb "never buy a pig in a poke" sprang to mind.

As he left, in his brand new Mercedes, I heard squealing from the vehicle. Not sure to this day which swine it was.

E

_____________________________

In a test against the leading brand, 9 out of 10 participants couldnt tell the difference. Dumbasses.

(in reply to maybemaybenot)

Post #: 8

RE: Do You Have a Pension? - 11/13/2007 3:00:15 AM

meatcleaver

Posts: 9030
Joined: 3/13/2006
Status: offline

There have been thousands of people that have invested for their pension for their retirement for years only to have it stolen by the company, lifted by the taxman or been originally sold a pig in a poke and will never get what was promised to them. I remeber reading some 25 years ago in the Guardian that insurance companies will never have enough money to conver the pension promised to my generation. I took the decision then to take care of my own pension and rather than pay a weekly amount for the next X number of years, I decided to buy property with the money I would use for a pension. I know have more than enough property that when liquidated will more than cover my needs.

Never trust a capitalist or the government (they are bought by capitalists), trust yourself.

< Message edited by meatcleaver -- 11/13/2007 3:02:24 AM >

_____________________________

There are fascists who consider themselves humanitarians, like cannibals on a health kick, eating only vegetarians.

(in reply to pinksugarsub)

Post #: 9

RE: Do You Have a Pension? - 11/13/2007 3:44:45 AM

Aneirin

Posts: 6121
Joined: 3/18/2006
From: Tamaris
Status: offline

Nope, I have not been in a position to actually save for a pension, what I would like to have put in has been taken by the goverment all these years with a 'promise' of something at the end of it all.

Somehow I think by the time I come up for retirement the cupboard will be bare.So, I am intending not to retire, but work my own business as an artist metalsmith for as long as I can.Thoughts are, well, I work metals in my spare time as a hobby and relaxation, if this is so, then I can keep on working because I love what I do, why give up and become a pauper and be treated as a drain on society by a government,(either party), who mouths words of care, but really does't give a s***!

I am just waiting for a new political party to emmerge, comprised of pensioners, people I think with their lifes experiences probably could do a better job of running the nation, people who actually care about this country and probably in the past risked their lives for it's defence. A powerful voting body I think.

_____________________________

Everything we are is the result of what we have thought, the mind is everything, what we think, we become - Guatama Buddha

Conservatism is distrust of people tempered by fear - William Gladstone

(in reply to pinksugarsub)

Post #: 10

RE: Do You Have a Pension? - 11/13/2007 4:33:39 AM

pahunkboy

Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline

Compelling topic- my thanks to the poster.

1. Wall street as romantic as some make it out to be- is really a casino. The house always wins.

2. Get your life together by age 35. Statistically being disabled- either full or part- is much.

3. Social Security- is the most successful social program of our day.
Guard it with your life! Even if you think it wont be there for you. Get your 40 quarters paid in. It is the ONLY deal in town.

(in reply to Aneirin)

Post #: 11

RE: Do You Have a Pension? - 11/13/2007 6:58:16 AM

KatyLied

Posts: 13029
Joined: 2/24/2005
From: Pennsylvania
Status: offline

I have a SEP at my full-time job, an IRA (with employer match) at my part-time job, a Roth that I contribute to (although not as much as I'd like to). I also have a small pension from a state job I had many years ago, that is the only money that is out of my control as far as moving it or rolling it over into something else, it has to stay where it is.

_____________________________

“If you want to live a happy life, tie it to a goal, not to people or things.”
- Albert Einstein

(in reply to pahunkboy)

Post #: 12

RE: Do You Have a Pension? - 11/13/2007 7:47:32 AM

VadFarkas

Posts: 923
Joined: 6/7/2007
Status: offline

I lost more than my job when the company I worked for went belly up.

Here is a little humor on this subject I had posted on Photo of the Day.
http://www.ringofsteel.net/images/retire.jpg

_____________________________

Vad Farkas ~ Ringsmith
See my collars & cuffs at
www.ringofsteel.net

(in reply to KatyLied)

Post #: 13

RE: Do You Have a Pension? - 11/13/2007 2:50:01 PM

FatDomDaddy

Posts: 3183
Joined: 1/31/2004
Status: offline

quote:

ORIGINAL: Owner59

Don`t worry about that.It`ll get fixed,

By who????????????????? The Government???? HA!

(in reply to Owner59)

Post #: 14

RE: Do You Have a Pension? - 11/13/2007 3:49:47 PM

pahunkboy

Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline

quote:

ORIGINAL: VadFarkas

I lost more than my job when the company I worked for went belly up.
Here is a little humor on this subject I had posted on Photo of the Day.
http://www.ringofsteel.net/images/retire.jpg

LMAO! pic! LOL

(in reply to VadFarkas)

Post #: 15

RE: Do You Have a Pension? - 11/13/2007 4:46:16 PM

sophia37

Posts: 1433
Joined: 2/7/2006
Status: offline

Yes, I too am an artist with no plans to retire. The only thing I have done right for my future is plant trees. Trees pay big bucks when harvested.

(in reply to pahunkboy)

Post #: 16

RE: Do You Have a Pension? - 11/13/2007 5:21:14 PM

ownedgirlie

Posts: 9184
Joined: 2/5/2006
Status: offline

Three 401(k)s, an IRA and a pension plan that I did not fully vest in before I was laid off. Next week I find out if ex husband takes half of the total sum or not. Invested in a house but that was lost in the divorce, too.

A great time to start fresh, and fortunately I have time to rebuild and do it right. I'm pretty excited about my future, and my future career plans.

I, too, have seen people pull their 401(k) money for things they should have waited to purchase. This money shouldn't be touched unless a serious emergency. I'll always advise people, if your company has a retirement plan and matches (401k or the like), put as much as you can into it - free money by the company and you'd be amazed at how fast it can grow.

I also agree that actual pension plans are a rare find anymore, and to consider yourself lucky if your company has one.

(in reply to pinksugarsub)

Post #: 17

Page: [1]

All Forums >> [Casual Banter] >> Off the Grid >> Do You Have a Pension?

Page: [1]

Jump to:

New Messages	No New Messages
Hot Topic w/ New Messages	Hot Topic w/o New Messages
Locked w/ New Messages	Locked w/o New Messages

Post New Thread

Reply to Message

Post New Poll

Submit Vote

Delete My Own Post

Delete My Own Thread

Rate Posts

Collarchat.com © 2025

Terms of Service

0.140