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I started saving in my 401K when I was 18. I put money away, and let it earn a return in the stock market. Now I have started saving money for eventual investment in a business. I know that I cannot count on the government to support me in my later years, so I am taking control of my future by putting aside money now! I hope many other Americans are doing the same, and realizing that the Government is not the answer to funding the golden...
I started to work for C&P Telephone Co on Feb 28, 1942, at 45 cents an hour, and retired from that company on Dec 30, 1983, as a Foreman-Supervisor, with an adequate pension and medical benefits. I received one pension increase in 1985, and no more increases to date. However, my health care benefits were paid for, even though the cost to the company increased year by year, so not getting a pension increase was at least acceptable. The...
I retired from NYNEX in 1995. Since that time I have not received any increase in the pension – that’s 15 years. However, in no way did NYNEX tell me that I would receive periodic increases. The pension is what it is and it will stay that way - forever. So I had to make a decision some 15 years ago that would affect the rest of my life. I made that decision with the knowledge that I would always be receiving that...
My name is Harry Chapman, I retired from Verizon communications in March of 2008 after 36.25 years of service. I took my pension as a lump sum payment, and have it invested mostly in a guaranteed annuity. I am currently receiving a monthly buy out check from Verizon until March 2012. This check is a little less then what Social Security pays.My concern is the solvency of Social Security, as it was figured into what I need to get by on during...
I am a professional audio engineer/technician. In this business it’s very hard, number one, just to make a living. Thinking about retirement, I’ve always thought about retirement, because I’ve never wanted to do this for all of my life. I wanted to move on and do other things, but the eventuality has come upon me that I have no savings and no pension.
I have paid into Social Security. That’s one...
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