Originally Posted by
PassportPlump
If you’re one of the guys approaching 65 years old, you have had the opportunity to add an additional 5 years at the top of our pay scales to your bank accounts. You’ve made an additional $250,000+ in 401k contributions alone over that additional 5 years. In today’s environment you’ve also made an additional $150,000 over the same time period in profit sharing alone. That’s $400,000 NOT INCLUDING YOUR SALARY!
The pension is gone. A thing of the past. Our 16% DC may not be there as Denny said for the next 25+ years either if the economy takes a turn. What Delta pilot is hurting retirement wise at this time? Even with the math above + what you have saved in the past should be plenty. Sell your boat.
Uh, we took a 50% whack on the W2. Forgot to mention that. The extra 5 wasn't my idea. One wife, no boats, never invested with a concert promoter. You got the wrong idea. But if you want to make this a old v young, let's go.