For those on Social Security

[churchmouse]

Yeah, that Hoovered. The wife almost had a nervous breakdown watching what happened. I told her that it was all monopoly money anyway until we had our hands on it. It's why I'm still working...

Wife was a loan officer at a national company. The bubble was rupturing and we saw it. Started making moves in the real world to get some debt paid down. 2 kids in private school and all that goes with that. We had already sold off most of the rentals and as the market slid south we were breaking even at best.
Then her company was sold behind closed doors with no notice. Her 6 figure job was gone in a flash with no where to go. That is what alerted us to the financial situation we were facing with our retirement. By the time we made any real moves it was pretty late in the game. We got our butts handed to us. And all that "LIFE" stuff I mentioned was really kicking our butts as well.
We made it out the back side much wiser. Maybe a bit to late for that wisdom but I trusted the funds we were involved with. That trust was not shared by any of them
And yes, I am still generating revenue where I can.

 

[spec4]

It's a shame Bush wasn't able to privatize SS. It wouldn't have helped me, but it would, over time, eliminate the whole program. Plus, with your own private account, if you die before retirement, the money is in your estate, not some government bottomless pit.

 

[4sarge]

Hell with that...I've been paying in for almost 50 years...when I turn 62 I am eligible and I will begin drawing that check immediately.

Smart Man

 

[amboy49]

We are on a stool with 2 legs right now as to fixed income. The crash in 06/08 took out one of the legs. If I was more responsible and actually watched I could have averted a lot of the losses we suffered but I was not. Life was dishing out enough to keep me focused elsewhere at that time.
I do still work when I can. So call it 2 and a half legs.

Church,

just curious. I watched the balance of my 401k diminish by 50% in the ‘08 Great Recession. But by 2013, when I was ready to retire at age 64, I had gained it all back. Now, in 2017, thanks to the stock market, my account is 150% of what it was in 2013. AND it continues to grow despite the fact I’m withdrawing a reasonable amount each month. Wondering why your investments didn’t return to pre 2008 levels if I may ask ?

i can only wish what I paid into S.S. for over 50 would have been allowed to grow at common investment rates. Or better still I would have invested in Google or Apple ! I’d be a multi millionaire many times over !