Sitting here after looking at my pension statement that came in the mail

[Duncanpup]

A ramble over coffee i find humor I have two different plans one is defined plan from my time with Preston red star roadway then then the other plan is ups it’s separate plan ups is also defined plan yet with annuity. I’m 56 with thirty five years I remember thinking thirty something and out that changed because of medical insurance for retirees you have buy now used to be part of retirement.

Then my wife got sick she’s back to work yet her insurance is not the greatest so now plan is hope to go in 7 years so she can get what is it Medicare or Medicaid not complaining about situation life happens.

Yet sitting here thinking I remember thinking one day if I make it I’m gonna retire on easy street after working this shit buffet of freight the pensions are decent I’ll retire live great no trucking. And now as I sit here watching my wife do the times Sunday crossword.

I find myself thinking if I pass before my wife she’s gonna be ok and if I make it then I’m taking a lump sum. Live frugal and leave the money for the kids it’s crazy how our thinking changes over the years. I always planned on gifting myself one trip with some of the annuity maybe to Siberia to fish for taimen that has now changed.

[Walleye]

1. I took a lump sum from my pension seven years ago.

Invested it in a stock market account and when I hit 70 started paying myself an allowance out of my 401(k) which came after the pension plan. Doing OK although the stock market is not as hot as it was. I only have Medicare though. Can’t deal with all those different plans. I don’t have any children to leave money to, though. I just have to worry about my own maintenance and repair from now on

[Sherman A1]

2. Defined benefits pensions are great

I have my good Union Pension, SS and a 401k to rely upon. The wife has the same. I did my 43 years in the grocery biz and now am comfortable.

Not too worried about leaving anything behind (I’m sure I will do so) but, we got the step daughter through college and into a career where she can make her own way. I believe that is what one is supposed to do and anything left is gravy for the next generation.

[Duncanpup]

3. I hear you Sherman

We got our three adult daughters through college no student loans I feel I owe it to the boys yet both are talking going to union electrician or plumbers apprenticeship instead of higher Ed.

[padfun]

4. I have a CalPERS pension

and with me and my wife's Social Security, we are doing fine. We live in a 4 Bedroom 3.5 Bath house with a large yard here in California and yet easily make the payments.

I used to think I would do a lot of traveling in my retirement, but I find my most enjoyment working on my back yard. i can spend what I need and plant what I want. We just ordered a cheap cloth Gazebo for $500 just to try it. If I like it this year, I will put in a more permanent one next year. So traveling will be fairly local and I will spent lots of time at my home.

[yardwork]

5. Your posts are beautiful, you know.

Your posts are one of the reasons I read DU. I think you found something that most people seek but never find - true happiness. The secret of life. True joy. An understanding of what it is to be human in this world.

[UGADawg]

6. Take a lump sum.

Invest it with a financial councilor. Live off the interest/dividends. If they push an annuity. find another councilor.

[mn9driver]

7. I'm in exactly that situation, except have mandatory retirement in 3 months.

Small pension (split with an ex), some savings (also split), younger spouse with medical needs. I go on Medicare in 3 months but she isn’t eligible for years so need to find another job with family medical because otherwise it’s about 2/3 of our income for insurance and copays.

I’ll work until she’s eligible for Medicare, years from now. I’ll be pretty old by then, so I hope it works out. We used to have retiree medical, but it disappeared a few years ago.

I think the UAW still has retirement medical, but that’s about it.

[DownriverDem]

8. Small pension

from teaching in the private schools. Did not want to take a buy out. Glad it comes every month. Truth is that if I didn't get married in my 50s, I would be in for a very different retirement. I feel for those trying to make it on their own.

[KS Toronado]

9. Americans probably aren't welcome in Siberia right now

The taimen don't mind.

[multigraincracker]

10. In order to retire at age 52 with 30 years,

I gave up lots of money, but money is not everything.
My plan is I got a certain amount every month/year, but the catch was it would include SS amount when I turned 62. So, SS is the major part. I get about half that much again with the pension, forever.
So, my plan was to pay everything off and never go in debt, plus I saved a decent amount that have never had to touch.
The fun challenge for me is to have hobbies that pay their way or even make me a little. Being cheap is a life style for me. Can't remember the last time I bought cloths in a store, other than underwear and socks.
Standing in line at the food store, the guy in front of me had a brand new Carhartt jacket. I complimented him on it, but told him it looked to new and needs broken in. He said it was 2 years old and it did look pretty new. I had on a black denim, lined Levi jacket with a hood that was broke in just right that I paid two bucks for at a garage sale.
I have a small car hauling trailer and pick up cars from the dealer auctions once in a while for a few shops. Might be once a month or so. I charge for gas, $100/day and a Subway sandwich. Catch and eat a lot of fish I catch, along with fresh road kill deer. Been to Europe twice sense I've retired. I do ok and friends still call me cheap. But I'm pretty worry free.

[getagrip_already]

11. You are lucky... for most workers, pensions are long gone....

They started to phase them out in the 80s and now only governments and some union jobs have them.

Now, if you get anything, its a crooked 401k that sucks your savings away with management fees. You are at the fate of millionaire fund managers more interested in their sex life than your money. The market is a bubble waiting to burst.

And the market crash has only just begun. Under tfg, they were litally pumping trillions per month into the markets to prop them up. It was a wealth transfer of unequaled amounts.

Now the fed has cut that off. What was good for tfg is not good for biden sayeth the fed.

Enjoy your benefits. At least they are more stable than a 401k.

[Duncanpup]

13. I understand

401k scam

[Rebl2]

12. It would

be Medicare.

[abqtommy]

14. Like the song says, 'turn and face the change'. Thanks, my friend. nt