A Look At What Could Have Been
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
• 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.
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.