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Personal Finance and Investing

PoindexterOglethorpe

(26,849 posts)

4. I worked ten years for a company that,

Reply to 3Hotdogs (Reply #2)

Mon Oct 14, 2024, 07:17 PM

Oct 14

shortly before I was going to start taking my pension, declared bankruptcy (for the second or third time) and was able to reduce everyone's pensions to about 25% of what they should be. I was lucky in that I never assumed mine would be very much, because I only worked ten years there. It's the long term employees who were screwed.

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How to Retire Early & Live Off Investments - Joe Blogs [View all] TexasTowelie Oct 1 OP

Two interesting points. How much of your discretionary spending is used because you are bored? You can't think of 3Hotdogs Oct 1 #1

My retirement was well planned. It was based on SS and a pension paid by the state pension fund. What could go wrong? 3Hotdogs Oct 1 #2

I worked ten years for a company that, PoindexterOglethorpe Oct 14 #4

Mine: It was a contract from the state. If anything goes wrong, they can raise taxes to fund the discrepancy. 3Hotdogs Oct 14 #5

Great advice. I retired a little over 22 years ago at age 52. multigraincracker Oct 1 #3