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Inflation Could Cause Me To Lose Up to 30% of my Retirement
Team Meeting | Self

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!


TOPICS: Business/Economy
KEYWORDS: bidenflation; bidenomics; bidenvoters; inflation; retirement; stockmarket
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To: vpintheak

I was always told “follow the rules, work hard, and you’ll be okay”. I don’t even have an arrest record. Clearly my Dad was wrong, and I should have had a career in robbing banks.


81 posted on 09/28/2022 11:47:59 AM PDT by quikstrike98
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To: quikstrike98
...other indications that more change is ahead

That's enigmatic. The only "other indication" I take seriously is the Model FJB car radio from Montgomery Wards.


82 posted on 09/28/2022 11:52:55 AM PDT by ProtectOurFreedom (“I used to be nothing but a Deplorable Clinger, but I've been promoted to Brigadier Ultra-MAGA”)
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To: TexasGator

Ever get tired of telling everyone on FR how great you are..???


83 posted on 09/28/2022 11:54:41 AM PDT by dakine
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To: NicoDon

“Look, you can’t sit and be passive as changes in the market occur. “

Yes you can. Decades ago I started investing in good companies paying good dividends.

Just been rolling with the flow ...


84 posted on 09/28/2022 11:55:10 AM PDT by TexasGator (!!!)
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To: TexasGator

Exactly. Something about this post makes no sense. What the heck does current inflation have to do with a pension payout?


85 posted on 09/28/2022 11:55:31 AM PDT by Alberta's Child ("It's midnight in Manhattan. This is no time to get cute; it's a mad dog's promenade.")
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To: quikstrike98

You’re doing a good job! Congrats on the work thus far!


86 posted on 09/28/2022 11:56:25 AM PDT by Fury
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To: quikstrike98

Yes, and I am being bombarded with add how Republican want to destroy Social security.
So far I lost bunch of Social security and private pension to inflation.
My 401K is 30% down and keeps getting lower, plus it is under inflation pressure too.
Biden is destroying us, the older folks. And he dares to claim he is protecting us?!


87 posted on 09/28/2022 11:56:47 AM PDT by AZJeep
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To: quikstrike98

I do better losing money buying a boat every few years.


88 posted on 09/28/2022 11:59:23 AM PDT by Palio di Siena
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To: Alberta's Child

“Exactly. Something about this post makes no sense. What the heck does current inflation have to do with a pension payout?”

Again, the text of the email from Corporate:

“Every year, we are required to update pension interest rates set by the IRS, which has an impact on your pension payment. This year’s circumstances are different than the past several years. We’re experiencing rising interest rates, economic uncertainty, and outstanding questions about inflation, and other indications that more change is ahead, all of which affect our business and could impact our workforce. In particular, rising interest rates could impact your pension payment calculations.”


89 posted on 09/28/2022 12:01:07 PM PDT by quikstrike98
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To: quikstrike98

Well you are going to lose it anyways once the Digital Currency kicks in..Be happy!


90 posted on 09/28/2022 12:01:51 PM PDT by dpetty121263
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To: quikstrike98

Do you have to take the lump sum? Or can you delay the lump sum? I don’t think rates will be as high as they are now for more than 24 months.


91 posted on 09/28/2022 12:03:30 PM PDT by rb22982
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To: rb22982

I’m 53, and even before this rape I didn’t have the money to retire comfortably. I’ll just have to keep going on until they lay me off or I die. As I said on the conference call, “You can check out any time you like, but you can never leave.”


92 posted on 09/28/2022 12:05:11 PM PDT by quikstrike98
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To: TexasGator

Sounds like you have a great mix of stocks. Did you hand pick them? Stocks with decent dividends are certainly the gift that keeps giving.


93 posted on 09/28/2022 12:08:12 PM PDT by SamAdams76 (4,119,340 active users on Truth Social)
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To: quikstrike98

If your lump sum is discounted by, say…the 10 year bond, yeah…that would really drop a lump sum.

If you watch the big lotto payouts you will have seen the “cash option” drop like a rock over the past year. They use the long term bonds to discount the payments.

I feel your pain.


94 posted on 09/28/2022 12:11:32 PM PDT by Vermont Lt
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To: quikstrike98

This post is useless.


95 posted on 09/28/2022 12:14:06 PM PDT by HIDEK6 (God bless Donald Trump. )
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To: quikstrike98

Maybe we should all call up Chucky Schumer to make it the tax payer problem!
https://teamster.org/2021/03/pension-solution-was-a-long-time-coming-for-teamsters/


96 posted on 09/28/2022 12:16:11 PM PDT by shoff (Vote Democrat it beats thinking!)
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To: quikstrike98

In the good old days, pension plans set their own assumptions for Actuarial Equivalence, including an interest rate. This was part of the plan document and didn’t change frequently.

Then the feds came along. Some people cashed out their pensions using the plan’s interest rate, but the feds felt like they didn’t get enough. The feds imposed statutory interest rates that changed at least annually and were tied to current market rates.

The last couple of years have seen historically low interest rates and high lump sums. POTATUS and Congress have brought on inflation, interest rates have gone up, and lump sums are going down.

The feds created winners and losers originally. The current regime created losers here.


97 posted on 09/28/2022 12:16:22 PM PDT by Tymesup
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To: SamAdams76

“Sounds like you have a great mix of stocks. Did you hand pick them? Stocks with decent dividends are certainly the gift that keeps giving.”

Yes. And qualified dividends have a lower tax rate. Diversified.

Some:

ETN, CVX, JPM, PNC, MRK, CSX, CNI, CSCO, INTC, EQR

I got lucky with ATRI. I had a reason for the buy but that was decades ago and I don’t remember!


98 posted on 09/28/2022 12:17:15 PM PDT by TexasGator (!!!)
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To: HIDEK6

“This post is useless.”

Cool! Love you too!


99 posted on 09/28/2022 12:17:26 PM PDT by quikstrike98
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To: NicoDon

NicoDon wrote: “If you or your financial advisor have not steered your retirement funds in this direction then the fault lies with you or the advisor, not the retards we have running the government.”

All good advice but Bond Funds do not behave like Bonds. Bonds, if held to maturity, are guaranteed to give back your principal. Bond funds do not have this feature.


100 posted on 09/28/2022 12:18:59 PM PDT by DugwayDuke (Most pick the expert who says the things they agree with.)
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