First I want to say some things. I started working at the age of 9 (almost 10) in my fathers service station. That was 1958 and have been working ever since. At 11 I was doing brake jobs and tuneup by myself. As I got older and was out of school I took full time work. As part of that employment I was told that money was being put into MY retirement fund so that when I was old I could live with a good income so that I would NOT have to worry. Now all these year later (now that I,m 60) I have been told that I will not have the retirement I was promised. They say It's ok we will put money into a 401K for you $5200 a year. I'm 60 so if they put $5200 per year for the next 5 years What the hell is that ! As soon as they put the money in it starts droping. So how's my retirement looking? After all those years of doing the right thing paying taxes rasing my children and helpping others a long the way. I will not be able to retire and now I wounder maybe I should of sat on my *** and let everyone else pay my way. Thats not me I couldn't live like that but I do wonder why all of us that are in this boat could be lied to all this time. At 60 how am I suppose live without the retirement promised?:nunu:

First I want to say some things. I started working at the age of 9 (almost 10) in my fathers service station. That was 1958 and have been working ever since. At 11 I was doing brake jobs and tuneup by myself. As I got older and was out of school I took full time work. As part of that employment I was told that money was being put into MY retirement fund so that when I was old I could live with a good income so that I would NOT have to worry. Now all these year later (now that I,m 60) I have been told that I will not have the retirement I was promised. They say It's ok we will put money into a 401K for you $5200 a year. I'm 60 so if they put $5200 per year for the next 5 years What the hell is that ! As soon as they put the money in it starts droping. So how's my retirement looking? After all those years of doing the right thing paying taxes rasing my children and helpping others a long the way. I will not be able to retire and now I wounder maybe I should of sat on my *** and let everyone else pay my way. Thats not me I couldn't live like that but I do wonder why all of us that are in this boat could be lied to all this time. At 60 how am I suppose live without the retirement promised?:nunu:

Dude I'm afraid to look!!!! It will make me :sickinbed: and we need:help: !!!I can't look at my statements and won't??!!:wheelchair:

I feel your pain bro. I'm guessing the retirement fund was like some kind of pension? What happened to it, did the company not fund it as they said they would?

I've been at my company for over 20 years and my 401K has been taking a beating. It's down by about 30% and like you said, it's going to be a while before things start to improve.

I also started working at around 13 and worked and paid my way through college. No free rides for me. Paid a lot of money into Social Security all those years only to find out years later, that the fund is dry with a big IOU. To help compensate for the stolen funds, they pushed out our age where we are able to retire and begin collecting Social Security income.

With the national debt at over 10 trillion and the $700 billion bailout, I don't expect to see most of that money.

I'm not ready for retirement but my 401K's look like 4.01K's

Just brutal.....

It is a sh*tty situation and I know that alot of people are in it too. I just try to think of the good things in my life and to do enough so that I can live "comfortable" and do alot of driving in my Vette!

I'm self-employed with my own retirement plan that is worth s--t. I still have a mortgage and will also not beable to retire the way things are going. I shall work till the day I croak.

My 401K has dropped 40% in the last few months. Fortunately I am not older than I am (48). Eventually it will rebound.

When I retire I plan on being a dependent of my kids!!! :pigsfly: :pigsfly: Yeah, right!!! Seriously tho, my 401K has taken a beating like everyone else. Most plans have alternate choices for investing other than the stock market. I'm getting out of the stock market for future contributions and putting my funds into bonds. The interest is only about 1 1/2 % but my company contributes 15% so I'm still making money. What I have in the stock market, I'm sitting on and HOPING that the market recovers and I will make my investment back. :Angel_anim:

Just brutal.....
:iagree: .:wheelchair: ...............................:patriot:

:soapbox: I'm a fighter and have always be one. I have retirements with The Machinist Union, Automotive Machinist and Aerospace Workers Union about 5 Years in the first and 13 years in the second. 19 year in the UFCW ( Winery union). That one is the one that is not looking good even though the wine business is kicking backside. I will make it because I have always been the one that takes care of everyone else. I am the one that people turn to when the times get tuff. It just ticks me off that jacka$$ can lie to people and then when the rubber meets the road say can't do what we said we would do so sad to bad. I would just like to take them out back of the barn and show them so sad to bad!:duel:

My Union Pension is fairly secure and will be there when I retire. Now the 2 different 401k's that I invested in are pitiful. I may as well had put the money in a personal savings account and at least I would still have my money. Right now I have lost half of what I paid in. WTF