Do I have enough?

[Anonymous]

I am 49, and feel the end is here with Pfizer. I have 1.325 million in retirement and owe about 200,000 on a 700,000 home. Otherwise I have no debt. I don't live an extravagant life, and have been a career rep. I have a wife who is stay-at-home, no kids just furry pets. Wondering what the heck I will do when this gig is done. I think in my next life I will just do something I enjoy--maybe owning a small shop or a small business with just one other employee. I am not having too much anxiety, just I want to do something I feel passionate for, just like my first job here 15 years ago. I will also volunteer for underpriveliged folks. Thank you and God bless all you other folks.

 

[Anonymous]

You are damn lucky. I am 55, been downsized 6 times in 14 years. In fact, every company I have joined has had a reorg within two years of my joining. WTF? I have no debt, which is a good thing but am a far, far cry from you. We have 480k in retirement. I have a 15,000 annual pension from one company due at retirement and a home worth about 390k with property in another state worth about 150k. That is it. I am so bummed as I was just getting used to AZ and starting to like it here. Honestly, between my husband and me, we have had to look for jobs every three to five years and been out of work an average of one year each time. You cannot really get ahead. Not sure I want back in the industry if Pfizer decimates us. That being said, I read the average savings of someone 55 in America is around 160k.

 

[Anonymous]

It of course depends on how the money is invested, your access to affordable insurance and fixed expenses. A financial advisor would likely recommend that you convert at least half of your nest egg in an annuity paying a fixed monthly payment.

I'm close to 60 and have zero debt, a legacy pension that pays over 50% of my current salary and close to 1 million in savings, yet I continue to work, as you can really be a super saver during your 50s.

The ACA may work for insurance if you can keep your annual income from pensions and investments low. Key is keeping your annual income below 400% of the federal poverty level. Otherwise, your insurance cost will be expensive.

With the pending sale, employees are on edge making it difficult to stay focused on the business.

Best of luck to all. Branded drugs represent on 15% of the current market. The drug industry must continue to innovate, consolidate or die.

 

[Anonymous]

I am 49, and feel the end is here with Pfizer. I have 1.325 million in retirement and owe about 200,000 on a 700,000 home. Otherwise I have no debt. I don't live an extravagant life, and have been a career rep. I have a wife who is stay-at-home, no kids just furry pets. Wondering what the heck I will do when this gig is done. I think in my next life I will just do something I enjoy--maybe owning a small shop or a small business with just one other employee. I am not having too much anxiety, just I want to do something I feel passionate for, just like my first job here 15 years ago. I will also volunteer for underpriveliged folks. Thank you and God bless all you other folks.

Liar

 

[Anonymous]

700 thousand dollar house and one income family not extravagant. lol get ready to deal with some reality

 

[Anonymous]

I am 49, and feel the end is here with Pfizer. I have 1.325 million in retirement and owe about 200,000 on a 700,000 home. Otherwise I have no debt. I don't live an extravagant life, and have been a career rep. I have a wife who is stay-at-home, no kids just furry pets. Wondering what the heck I will do when this gig is done. I think in my next life I will just do something I enjoy--maybe owning a small shop or a small business with just one other employee. I am not having too much anxiety, just I want to do something I feel passionate for, just like my first job here 15 years ago. I will also volunteer for underpriveliged folks. Thank you and God bless all you other folks.

You are in basically good shape. You should have the ability to do something you want to do, build your own business, etc.

 

[Anonymous]

I"m really scared. Have only about 600,000 and I"m 54.

 

[Anonymous]

You are damn lucky. I am 55, been downsized 6 times in 14 years. In fact, every company I have joined has had a reorg within two years of my joining. WTF? I have no debt, which is a good thing but am a far, far cry from you. We have 480k in retirement. I have a 15,000 annual pension from one company due at retirement and a home worth about 390k with property in another state worth about 150k. That is it. I am so bummed as I was just getting used to AZ and starting to like it here. Honestly, between my husband and me, we have had to look for jobs every three to five years and been out of work an average of one year each time. You cannot really get ahead. Not sure I want back in the industry if Pfizer decimates us. That being said, I read the average savings of someone 55 in America is around 160k.

You're still pretty good there!

 

[Anonymous]

It of course depends on how the money is invested, your access to affordable insurance and fixed expenses. A financial advisor would likely recommend that you convert at least half of your nest egg in an annuity paying a fixed monthly payment.

I'm close to 60 and have zero debt, a legacy pension that pays over 50% of my current salary and close to 1 million in savings, yet I continue to work, as you can really be a super saver during your 50s.

The ACA may work for insurance if you can keep your annual income from pensions and investments low. Key is keeping your annual income below 400% of the federal poverty level. Otherwise, your insurance cost will be expensive.

With the pending sale, employees are on edge making it difficult to stay focused on the business.

Best of luck to all. Branded drugs represent on 15% of the current market. The drug industry must continue to innovate, consolidate or die.

Not sure a good financial advisor would recommend buying an annuity now with the low interest rates we have. They usually come with pretty high fees also and usually benefit the person /company selling it (which is probably the primary reason someone would recommend it). Interview a bunch of financial advisors and find one you are comfortable with, trust, and is on the same page as you are. Good financial advisors are worth what they charge. Like everything else in life-you get what you pay for. Mine isn't cheap, but he's good and I sleep better at night with him handling my investments. The key for you is to interview a bunch before finding the one you like. Good luck!

 

[Anonymous]

I am 49, and feel the end is here with Pfizer. I have 1.325 million in retirement and owe about 200,000 on a 700,000 home. Otherwise I have no debt. I don't live an extravagant life, and have been a career rep. I have a wife who is stay-at-home, no kids just furry pets. Wondering what the heck I will do when this gig is done. I think in my next life I will just do something I enjoy--maybe owning a small shop or a small business with just one other employee. I am not having too much anxiety, just I want to do something I feel passionate for, just like my first job here 15 years ago. I will also volunteer for underpriveliged folks. Thank you and God bless all you other folks.

You're going to have a tough way to go, unless you have another business ready to go. I've been in the industry for 20 years, and have seen a TON of lifers retire, and go right into depression after playing 1000 rounds of golf, and going to Home Depot 4 x a week.

Owning a small shop or a franchise is much harder than anything most career reps have ever done.

 

[Anonymous]

OP is in pretty good shape, maybe downsize to paid off home and be totally debt free, pulling 4% out of retirement savings gives you about $50K year income, but then your also looking at paying your own hefty health insurance.. sounds like your keeping sane with outside interests...as for owning your own business..beware there, sounds like a nice idea..make some money, be your boss, have fun..true there BUT take hard look at survival rate of most small business startups (google that stat)...you could blow a lot of money on that..you better have a very sound biz plan (talk to bankers, cpa etc) before you realize that business you started is just an expensive hobby.

 

[Anonymous]

i'm moving to Southern California to a smaller home to enjoy nature, the men and the beach

 

[Anonymous]

It of course depends on how the money is invested, your access to affordable insurance and fixed expenses. A financial advisor would likely recommend that you convert at least half of your nest egg in an annuity paying a fixed monthly payment.

I'm close to 60 and have zero debt, a legacy pension that pays over 50% of my current salary and close to 1 million in savings, yet I continue to work, as you can really be a super saver during your 50s.

The ACA may work for insurance if you can keep your annual income from pensions and investments low. Key is keeping your annual income below 400% of the federal poverty level. Otherwise, your insurance cost will be expensive.

With the pending sale, employees are on edge making it difficult to stay focused on the business.

Best of luck to all. Branded drugs represent on 15% of the current market. The drug industry must continue to innovate, consolidate or die.

A financial advisor would love you to put your money into an annuity so he/she can make money. Annuities are more of a psychological security blanket, and as big a gamble as the stock market. With their fees, commissions, early withdrawal penalties, etc. money can be put into better vehicles.

 

[Anonymous]

I think you are in great shape. Im 58, no debt. House paid off, condo in another state paid off. $850k in retirement funds and 300k in savings, stocks etc. and I feel nervous. Will probably sell Hondas or Toyotas or real estate. My big expenses are condo fees and real estate taxes.

 

[Anonymous]

I will probably escort myself privately without a pimp. Choose my clients, and have them wear protection. Work with credit cards and get ID's. Time I empower myself

 

[Anonymous]

I am 49, and feel the end is here with Pfizer. I have 1.325 million in retirement and owe about 200,000 on a 700,000 home. Otherwise I have no debt. I don't live an extravagant life, and have been a career rep. I have a wife who is stay-at-home, no kids just furry pets. Wondering what the heck I will do when this gig is done. I think in my next life I will just do something I enjoy--maybe owning a small shop or a small business with just one other employee. I am not having too much anxiety, just I want to do something I feel passionate for, just like my first job here 15 years ago. I will also volunteer for underpriveliged folks. Thank you and God bless all you other folks.

Wait….you come to CP to ask this question? I mean, what do most of our fellow drug reps know, besides how to spew up approved 30 second hallway or drug closet details? I call BS on this post. I searched a couple of other sites and VOILA, a lot them have identical posts, with virtually identical numbers. BTW, just because I call BS on the post doesn't mean that I don't believe that the numbers are attainable. They ARE…if you started in pharma 29 years ago, maxed out your 401K, worked for a strong company, etc, etc. How many people reading CP fit THAT description?

 

[Anonymous]

think you were just a bad saver to the last post. he or she is angry that they haven't joined the 7 figure club

 

[Anonymous]

I am 49, and feel the end is here with Pfizer. I have 1.325 million in retirement and owe about 200,000 on a 700,000 home. Otherwise I have no debt. I don't live an extravagant life, and have been a career rep. I have a wife who is stay-at-home, no kids just furry pets. Wondering what the heck I will do when this gig is done. I think in my next life I will just do something I enjoy--maybe owning a small shop or a small business with just one other employee. I am not having too much anxiety, just I want to do something I feel passionate for, just like my first job here 15 years ago. I will also volunteer for underpriveliged folks. Thank you and God bless all you other folks.

You're 49, have a stay at home wife with a 700K house and 1.325 mil in the bank? Whadya do, rob a bank? No kids, no college payments? Man, I'd say you got it made!

 

[Anonymous]

I am 49, and feel the end is here with Pfizer. I have 1.325 million in retirement and owe about 200,000 on a 700,000 home. Otherwise I have no debt. I don't live an extravagant life, and have been a career rep. I have a wife who is stay-at-home, no kids just furry pets. Wondering what the heck I will do when this gig is done. I think in my next life I will just do something I enjoy--maybe owning a small shop or a small business with just one other employee. I am not having too much anxiety, just I want to do something I feel passionate for, just like my first job here 15 years ago. I will also volunteer for underpriveliged folks. Thank you and God bless all you other folks.

1. stop being an idiot.
2. stop being an idiot.
3. grow a pair of balls.
4. be a man.
5. grow a pair of balls.
6. pay off the stuipid house.
7. find better things to do with your time than post BS on here.
8. stop being an idiot.
9. grow up, and be a man.
10. learn to give of yourself.
11. stop being an idiot.
12. stop being an idiot.

 

[Anonymous]

You're 49, have a stay at home wife with a 700K house and 1.325 mil in the bank? Whadya do, rob a bank? No kids, no college payments? Man, I'd say you got it made!

You live in a 700K house and don't have any kids? Why? Does your poodle need its own suite? How many fucking bathrooms do two people need? And we wonder why America is going down the shitter.