What is left when you get there
So here we are. Almost two years after the exxodus from the North Country, and new questions are born.
Our grandparents made retirement look easy. Maybe the last generation to do so. Our parents barely made it to retirement. No savings to speak of. No pension--Dad lost all he worked for at the steel mill. After nearly 38 years of service, the government take over of the pension plan told him "Too bad.." and stopped writing monthly checks for $1500 and in turn sent $125.00 a month for the rest of his life. Seems he had been OVER paid for the first 5 years as his pension plan (a salary) had not been funded because the company (McLouth Steel) had been given permission by the government to with hold funding and divert it back into a failing company--yet the CEOs and upper management ALL received pensions?
And I sit here today, pondering will my life be worth it if I choose to work another 8 years in hoipes of securing SOME type of pension OR do I retire now and make my way as I go on a daily basis?
After losing $60K in the housing market, owning property is no longer a temptation.
And should I stay on for 8 years, when I do retire, because I have less than 25 years, my benefits will be reduced by 15% or 20%. And since I hired after 2007, I will not be elgible for health benefits--even though the folks that mad that decision in the NC legislature have retirement with just ONE term in office and LIFE-TIME health insurance!??
Our grandparents made retirement look easy. Maybe the last generation to do so. Our parents barely made it to retirement. No savings to speak of. No pension--Dad lost all he worked for at the steel mill. After nearly 38 years of service, the government take over of the pension plan told him "Too bad.." and stopped writing monthly checks for $1500 and in turn sent $125.00 a month for the rest of his life. Seems he had been OVER paid for the first 5 years as his pension plan (a salary) had not been funded because the company (McLouth Steel) had been given permission by the government to with hold funding and divert it back into a failing company--yet the CEOs and upper management ALL received pensions?
And I sit here today, pondering will my life be worth it if I choose to work another 8 years in hoipes of securing SOME type of pension OR do I retire now and make my way as I go on a daily basis?
After losing $60K in the housing market, owning property is no longer a temptation.
And should I stay on for 8 years, when I do retire, because I have less than 25 years, my benefits will be reduced by 15% or 20%. And since I hired after 2007, I will not be elgible for health benefits--even though the folks that mad that decision in the NC legislature have retirement with just ONE term in office and LIFE-TIME health insurance!??
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