Posted on 09/28/2022 10:53:42 AM PDT by quikstrike98
Well, we just had our weekly team meeting. I work for a very large corporation. We were just told that they will be recalculating retirement lump sum payments due to inflation, and depending how things are calculated, if we retire after Jan 1 of next year, we could lose up to 30% of our savings. You read that right, 30%.
Thanks Commierats!
“I don’t know how this stuff works. But there’s an official mail from the company warning us about this.”
Does the official Email cite “inflation” as the cause?
And how many years to retirement for you?
I switched most of my money out of the market into short term T-bills. This was because I expected a crash.
I don’t trust the US dollar either. But where do you go?
A bond fund in rising interest rates would be crazy.
I’m looking at foreign countries, but look at what happened to the Euro! I considered Swiss currency.
I’m not a gold & silver person and I already have more than enough real estate....
What is a person to invest in these days?
Remember, in a very good year you may go up 30%. But right now, just sit tight. It will come back.
I’m down 40% since the idiot took office. My retirement age went from 62 to 70 now. I’m thinking of just cashing out, moving to Costa Rica, being an adjunct professor and living on that, my VA disability and my Social Security. Maybe I can hold off on SS for a few more years and just stay at my job.
I’m getting too old for this crap.
If you see any of them near you supporting Dems then slap them for me. Idiots.
Along with socialist spending the quick turn against gas and other fossil fuels caused rapid price increases----to supposedly save the planet from climate change. I still say: prove it is man-made.
We'll be arguing this with fellow tent dwellers on the sidewalks soon.
30% of my retirement money disappeared around the 2008 crash. It slowly recovered over the next 12 years and went higher than it was before the 2008 crash.
Then Biden happened. Hang in there until we get rid of that idiot, there is hope (gonna take a few years or more).
-PJ
30% is just the current inflation, the coming market crash will take out the remaining 70%
Never planned on retiring anyway.
Are you being forced to retire? My husband and I both retired 4 years ago at age 65. He didn’t handle retirement all that well. 3 years ago he got a “part time” job as a FedEx courier. He was planning on “retiring” again in October. He’s decided against it. 🤪
so that’s what they meant by Building Back Better?
The time to have moved to cash was months ago.
We are getting too many rants with too few details.
”We all have to have skin in the game.” -Obama
I agree!!
Not forced to retire. Just being warned. I can’t afford to retire now, and I sure as Hell won’t after January. 20 years of my life savings down the sh!tter.
“The time to have moved to cash was months ago.”
Inflation directly affects cash.
own a home and you will profit from it.
My sympathies. What’s happening is going to anger everyone but the leeches, who won’t notice a thing.
You are ranting.
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