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KentuckyWoman

(6,679 posts)

41. My Dad died 4 days before his retirement date from GE

Sat Oct 25, 2014, 11:04 PM

Oct 2014

There was a small life insurance payout but my father signed up for reduced benefits so Mom would have something and she got nothing. You can guess I'm not a big fan of defined pension benefit plans. I'd rather wages be better, personal retirement accounts be insured and medical care insurance be universal single payor.

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Americans are withdrawing their 401k money early - experts are calling it "a flood" [View all] Liberal_in_LA Oct 2014 OP

My wife and I have pulled some money out Dirty Socialist Oct 2014 #1

I drained mine a couple years ago. DCBob Oct 2014 #2

My father retired from GE 25 years ago. Pension, medical. The works. Lochloosa Oct 2014 #3

I know of GE workers in Cincinnati Dirty Socialist Oct 2014 #4

About the only workers who retain Defined Benefit Plans Yupster Oct 2014 #5

I have a pension and my wife too because I work for a railroad. I consider neverforget Oct 2014 #11

I have it, but I lost the medical. It was touch and go there for a while, with quarterly scare mail freshwest Oct 2014 #18

My Dad died 4 days before his retirement date from GE KentuckyWoman Oct 2014 #41

Your father should have had more life insurance Live and Learn Oct 2014 #43

It is a gauge of continued souring economy. maced666 Oct 2014 #6

Daughter lost half justgamma Oct 2014 #7

Who could have possibly known? BrotherIvan Oct 2014 #8

With due respect, if you have your money "invested" in Wall Street, and don't recognize that rhett o rick Oct 2014 #9

I must respectfully disagree with you here, at least KingCharlemagne Oct 2014 #12

Buffett is a harsh critic of the "gambling" side of the market Algernon Moncrieff Oct 2014 #14

Buffett has also stated that his preferred time period for holding a stock is 'forever'. I've KingCharlemagne Oct 2014 #15

I should have said "speculation" in lieu of gambling. Choice of words is important. No one would rhett o rick Oct 2014 #22

Fair enough. I will say again that workers need to make sure their choices about KingCharlemagne Oct 2014 #26

Your screen name is an odd choice for a democratic socialist. rhett o rick Oct 2014 #29

Ha-ha. Touche. I meant to sign up as "KidCharlemagne" in homage to the KingCharlemagne Oct 2014 #31

If you typed "king" in lieu of "kid", it's a wonder you managed to get Charlemagne correct. rhett o rick Oct 2014 #36

I'm getting to be an old fart, getting absent-minded in my dotage. It's a wonder I can KingCharlemagne Oct 2014 #37

When you put in only a few hundred to a few thousand dollars a year into a 401(K), JDPriestly Oct 2014 #19

Even if you put 100% of your contributions annually into a Money Market account? That's KingCharlemagne Oct 2014 #24

What's your money marke account earning? spinbaby Oct 2014 #34

You'll get no argument from me. The money market account is perfect when KingCharlemagne Oct 2014 #35

What is investing? Some say it's purchasing something with the hope of rhett o rick Oct 2014 #20

When one buys a share of stock in a publicly-traded company, one is becoming KingCharlemagne Oct 2014 #21

When you buy a share of a company from another individual you are not "investing" in the company. rhett o rick Oct 2014 #27

what you describe is known as a ponzi scheme. n/t PowerToThePeople Oct 2014 #39

I think the Stock Market operates as a pyramid scheme with frequent "adjustments" which is code for rhett o rick Oct 2014 #40

ive never taken anything out TheFarseer Oct 2014 #10

I'm 49, and I figure to be working until I'm 75 Algernon Moncrieff Oct 2014 #13

I'd like to take it out of the 401K before the next crash - LiberalElite Oct 2014 #16

My husband and I have had to pull some out, and I wouldn't be surprised if we have to pull more out. liberal_at_heart Oct 2014 #17

Spent mine years ago... Wounded Bear Oct 2014 #23

I have around $3000 left. randome Oct 2014 #25

You know what? It's OUR money. Avalux Oct 2014 #28

You can not be "forced" to pull it out by an employer. A HERETIC I AM Oct 2014 #33

We can loan ourselves money from ours. ileus Oct 2014 #30

If you are a few years short of collecting SS hobbit709 Oct 2014 #32

Better they take their money early than allow the criminals to loot them n/t malaise Oct 2014 #38

Bingo! greatlaurel Oct 2014 #42