I have a friend who was getting ready to retier early next year at 62. He has little in savings, he did not think he needed it because he had a great defined pension and with it his and his wife SS they were going to get over $5K a month to retire on. The have their debts paid off. Last June his company declared bankruptcy adn dumped the pension plan. To make a long story short he will be luck to get 20 cents on the dollar of what he thought he was going to get. He now says he will be lucky to retire at 70.
You stated what I was thinking as I was posting earlier. Thanks. I sure feel sorry for your friend. Unfortunately, there are more people like him in a similar situation.