A Look At What Could Have Been
By celticeagle
@celticeagle (158680)
Boise, Idaho
December 12, 2016 2:48am CST
I was just calculated what I would have gotten as a pension if I had stayed at the job I had before I took a early retirement when I got sick. I would now be getting $2,641 per month in my pension. I had also cashed out a 401-k that I had when I had a family emergency back in the mid 80's. I could have been bringing in about $4000 a month. I bring in a little over a third of that. I would be setting pretty right now if I had been able to keep these two assets. But, life got in the way.
Have you had to cash out on moneys that could have helped you in your retirement?
10 people like this
13 responses
@infatuatedbby (95001)
• United States
13 Dec 16
I would still need to work..... many more years to qualify.
1 person likes this
@celticeagle (158680)
• Boise, Idaho
13 Dec 16
You are young yet and can save before time to retire. Good to check into what is available as early as you can. Just FYI......
1 person likes this
@infatuatedbby (95001)
• United States
13 Dec 16
@celticeagle I only have like 3 years in 
1 person likes this
@Jessicalynnt (50525)
• Centralia, Missouri
13 Dec 16
I may have too now, I need the money in my 401K, but so far havent touched it. It would pay off my cc and leave me a couple thousand to help pay off the car repairs
1 person likes this
@celticeagle (158680)
• Boise, Idaho
13 Dec 16
I had to use mine to move when I left my husband. I could have lived and stayed at friends for a couple weeks but when you have children you can't really expect friends to put up with them 24/7.
1 person likes this
@celticeagle (158680)
• Boise, Idaho
15 Dec 16
@Jessicalynnt .....Yes, it is. Hope something good comes your way.
1 person likes this
@Jessicalynnt (50525)
• Centralia, Missouri
15 Dec 16
@celticeagle yeah, plus that's harder on the kids. I may get into it, but after the first of the year. I am not sure yet
1 person likes this
@Asylum (47893)
• Manchester, England
12 Dec 16
@celticeagle Sadly not, although it never seems so important until you retire.
1 person likes this
@celticeagle (158680)
• Boise, Idaho
12 Dec 16
@Asylum .....Yes, and never seems that important when young.
1 person likes this
@AbbyGreenhill (45496)
• United States
12 Dec 16
If you are bringing in 1/3 of those two items you are bringing in more than many seniors.
When we first quit work and moved south we lived on two very small pensions, I mean very small and we were in our early 50's so no SS. To live we had to take money out of savings and we lived very cheaply - we couldn't afford to eat out. That's when I started mystery shopping and got lots of free meals!
Note: We took my husband's pension early to pay off the bills so we could move south debt free. That cut his pension in half, but we needed it then.
My pension was company paid for - it didn't cost me a penny - so free money is free money no matter how small.
1 person likes this
@celticeagle (158680)
• Boise, Idaho
12 Dec 16
I was lucky to get a small pension at the last company I worked for. I only worked there five years but have the pension for life. I felt fortunate.
@celticeagle (158680)
• Boise, Idaho
12 Dec 16
@AbbyGreenhill .....Not many of them around now days. What will young people do?
@AbbyGreenhill (45496)
• United States
12 Dec 16
@celticeagle My last company where I worked for 10 years was the only one that actually gave pensions - free pensions. My other two long term jobs results in 401K's.
1 person likes this
@celticeagle (158680)
• Boise, Idaho
13 Dec 16
Now days everything is so expensive.
1 person likes this
@celticeagle (158680)
• Boise, Idaho
14 Dec 16
@sallypup ......I'd try to find some way of getting it paid.
@sallypup (57717)
• Centralia, Washington
13 Dec 16
@celticeagle I'm uneasy about having another mortgage when we're headed toward 70. 300,000 by the way!
1 person likes this
@Happy2BeMe (99399)
• Canada
12 Dec 16
Life happens sometimes and we have no other choice.
1 person likes this
@simone10 (54189)
• Louisville, Kentucky
19 Dec 16
@celticeagle Yes, it really is. But at least I had it to use which I am thankful for.
1 person likes this
@Freelanzer (10745)
• Canada
12 Dec 16
For me early retirement was a blessing.I saved a bunch by not working outside the home (transport, lunch, etc) and being my own boss was worth every penny I lost. No I have not yet cashed out anything but as you say life happens and the best of plans may not always work out. But you have your health and opportunities like mylot , online, to make some extras. All the best.
@just4him (305417)
• Green Bay, Wisconsin
12 Dec 16
I had to cash out my 401K when I bought my home to cover a tax lien I didn't know I had.
