A few words of advice from an old timer: RTBKPL

[RTBKPL]

I'm in the same group as both of you and you're absolutely correct. Even with a part-time job just to stay a bit busy, I'm making much more in retirement with my Novartis pension and Social Security. Haven't had to touch my IRA yet at 67 and have over 2.5 million in it. I took advantage of every benefit both my pre-merger company had and then what Novartis offered in terms of matching contributions etc. Put the max in every paycheck and just let it build.

I did though take all the money out of Fidelity when I left Novartis. I wanted to be in total control of my own money. I spend 1-2 hours a day reviewing the markets, use a professional advisor and work as a team with him. I'll probably start taking a little out this year when I completely retire just as a present for my wife and I. New car, a trip to Europe, etc. are all coming later this year and beyond.

The key is for young people to live below their means and desires while socking away the max allowed, not just the max matched by Novartis or any company. Do that for 30 years and you can retire in comfort and without worry.

Glad things are going well for you my friend. You make a good point about the part time job and staying busy. My intention is to stay with my present company as long as I am healthy and willing to put in the effort. I am working for a great guy, have a great product, great price and a great program to go along with it. We are small but there is only upside potential if things are done correctly.

My intention is to work part time as a flight instructor in gliders when I decide to kick the full time habit. If I don't start SS until after 66 there is no penalty for working, you can earn as much as you like.

One of the things the current generation will not enjoy is the PENSION that many companies did provide for our generation. I know people who did not participate in the 401K plan, they needed to have a new boat, jet ski, European ski vacation each year. Obama is looking hard at MEANS TESTING. He will be trying to take SS and other benefits from our generation to give to the lazy, uneducated, "GIMME" generation. We can stop this with our votes if enough people remove their craniums from their rectums.

I too took my 401K money under my wing and have enjoyed the last couple of years as the Fed printed tons of money to "aid" the economy. While inflation will eat into the buying power at least the returns have been higher.

Never let the bastards get you down.

RTBKPL

 

[Anonymous]

There is no pension anymore so newer hires don't have the same outlook. You'll have to be much more diligent about setting yourself up because some of the old perks don't exist anymore.

 

[Anonymous]

Hey rtbkpl....stfu and go back to your chair

 

[Anonymous]

RTBKPL,

Thanks for the words of encouragement. I currently work at Amgen. Tomorrow, our whole sales force has to sit home and wait for "the call", to see if we've been retained or let go. I just turned 49 last month and fear that if I'm let go, it will be even more difficult to find a job due to my age. You've given me a reason to think positively. It's greatly appreciated.

 

[RTBKPL]

Hey rtbkpl....stfu and go back to your chair

You have a great day my friend and remember……

Never let the bastards get you down.

RTBKPL

 

[RTBKPL]

RTBKPL,

Thanks for the words of encouragement. I currently work at Amgen. Tomorrow, our whole sales force has to sit home and wait for "the call", to see if we've been retained or let go. I just turned 49 last month and fear that if I'm let go, it will be even more difficult to find a job due to my age. You've given me a reason to think positively. It's greatly appreciated.

Age is a disadvantage only if we make it a disadvantage. I find that the smaller companies are your best bet, Japanese companies are a fine choice because it appears that to them age is an advantage. Networking is critical. Amgen is one of those premier companies so having made it with them is a positive.

Good luck my friend and remember….

Never let the Bastards get you down.

RTBKPL

 

[Anonymous]

Age is a disadvantage only if we make it a disadvantage. I find that the smaller companies are your best bet, Japanese companies are a fine choice because it appears that to them age is an advantage. Networking is critical. Amgen is one of those premier companies so having made it with them is a positive.

Good luck my friend and remember….

Never let the Bastards get you down.

RTBKPL

Good to hear from you RTBKPL ! I always did enjoy your posts back in the day!