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View Poll Results: Your Employment-related Sources of Retirement Income
I have/will have 401K and/or pension plan income from my employer(s) 79 86.81%
No 401K/pension plan of my own but may receive benefits from my spouse's plan(s) 1 1.10%
Never had a 401K and/or pension plan and neither does/did my spouse 11 12.09%
Voters: 91. You may not vote on this poll

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Old Yesterday, 01:09 PM
 
4,463 posts, read 2,641,313 times
Reputation: 10436

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When i started working in 1981, pensions were gone for my job field, if there was one to begin with.

When i came home with a stack of forms and papers on the 401k my retail/travel company offered, and my father had absolutely no clue what i was talking about .

He studied carefully though, and went to find out if his fortune top 10 company had one in addition to his well planned pension. And he signed up for theirs.

That was one of only 2 401ks i was ever ever offered at any job i held. It matched $0.50 per dollar up yo the first 6% of gross wages you put into it.

The second one only offered a $0.25 per dollar up to 5%.

Opps, i DID have a 3rd one offered, if you wanted to call it an offer. It matched $0.05 per dollar up to the first 1% you put away. Hardly worth a mention, but they figured they were generous giving you a whole 5% on 1% of your salary.

But i saved all through the 80s into IRA, mm, and CDs ( back when a money market account paid 10-12%, and CDs paid 15-18%!! (Memba those days???)

I considered myself doing very well. Had $100k (total, including efund saved by end of 1989, when the recession hit. For medical reasons I used it all up.

Since 1990, though any job ive held were either part time or dont offwr any type of retirement plan.

So back to Roths now.

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Old Yesterday, 01:21 PM
 
Location: Los Angeles
1,274 posts, read 798,406 times
Reputation: 1078
Not a senior, but I find this interesting.

Assuming they still exist when I retire, I have a 401K, Pension, SS, and investments.

My husband has a pension, 401K, and investments.
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Old Yesterday, 01:44 PM
 
1,582 posts, read 2,211,781 times
Reputation: 2772
62 and working full time. Planning to retire at 65, maybe sooner. My home is paid off.

I have a 401K and SS. I have investments but they are not from my employer.

Last edited by smpliving; Yesterday at 02:56 PM..
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Old Yesterday, 01:51 PM
 
Location: Illinois
4 posts
Reputation: 10
We are not retired yet but my wife and I are both Federal employees, we have their version of a 401K (TSP) and will get a pension. I consider us very fortunate.
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Old Yesterday, 01:53 PM
 
Location: In the land beyond Ohare!
943 posts, read 488,856 times
Reputation: 2071
Pension, IRA's, 457b and will take SS @ 70.
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Old Yesterday, 01:54 PM
 
Location: Texas
1,976 posts, read 1,382,776 times
Reputation: 6775
I rolled my 401K and Pension into self-directed IRA’s at retirement. That was 23 years ago.
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Old Yesterday, 02:14 PM
 
Location: D.C.
2,872 posts, read 1,827,049 times
Reputation: 3908
Quote:
Originally Posted by Dreamingisfree View Post
We are not retired yet but my wife and I are both Federal employees, we have their version of a 401K (TSP) and will get a pension. I consider us very fortunate.
Same here, just 3 1/2 years! I also forgot to include FERS supplement in original post which I'll get until I reach 62.
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Old Yesterday, 02:19 PM
 
Location: Illinois
4 posts
Reputation: 10
Quote:
Originally Posted by david0966 View Post
Same here, just 3 1/2 years! I also forgot to include FERS supplement in original post which I'll get until I reach 62.
Yeah that supplement is a great thing. Some politicians want to take it away from us though, I am hoping none of them are successful.
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Old Yesterday, 02:24 PM
 
Location: D.C.
2,872 posts, read 1,827,049 times
Reputation: 3908
Quote:
Originally Posted by Dreamingisfree View Post
Yeah that supplement is a great thing. Some politicians want to take it away from us though, I am hoping none of them are successful.
Yeah, Trump I believe tried but was not successful. With Dems controlling HoR now I think he will have even less success.
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Old Yesterday, 02:32 PM
 
6,782 posts, read 1,421,603 times
Reputation: 16962
My husband has a large 401k and will have quite large Social Security payments. I have a small pension and modest Social Security. We both now have a Roth account, quite a bit of savings, and will have a paid-in-full home before we retire. (However, we are not wealthy people, according to many people on the Retirement Forum, we have it better than most as our monthly SS income will exceed our outgo until when and if one of us must move into an ALF.)

Personally, I am not worried about it, though, because as long as we have at least ten years of GOOD retirement, whatever bad comes after that, we will either just deal with it or die.
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