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Corning Inc. Message Board

  • metalmeister79 metalmeister79 Nov 18, 2008 2:19 PM Flag

    Jan 1990..... GLW $7 / share

    Hope you all have Government Pensions
    like my neighbors. Retired at 55... $98k / year
    for life With COLA + Full health care.

    Private sector employee needs to aquire over
    $5 Million in CASH at 55 to match.

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    • gotta remember they don't get some stuff us corporate america guys get
      (disability insurance, stock options, plus they also pay into their pensions just like a 401K).

      My husband is a teacher - same or similiar pension as state/gov't workers.

      I put portion of my salary away (same as he does percentage wise) plus match from my employee and and I have .7 million after 27 years. We make the same money. I have 6 years to go and hope to have 1 million or close to it.

      So I wont' have quite enough to have quite the same pension as he does (about 18K apart) BUT....

      when we die, our kids won't get the money he put into his pension - the gov't keeps it! yes you heard right, they keep it (yeah - you SHOULD wonder why the pension system is in trouble)

      when we die, our kids get the cash that's in MY 401K.

      summary:
      so they get a bit more yearly during retirement, but in the end their kids get screwed.

      also remember if I wanted to I could take an extra 18K per year from my nest egg and still have left over for my kids after I die.

    • ummm...
      4% of 2.5 million will yield you 100K.
      how do you arrive at 5 million?

      depends on when you retire too..
      there were times that yields were 8% (i.e. 2000).
      average is not 2%

    • <Hope you all have Government Pensions like my neighbors. Retired at 55... $98k / year for life With COLA + Full health care.>

      What government was that? And WTF did they do? Senators? Nice neighborhood.

 
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