Are you "lucky"if you have a secure retirement?

[jix]

I have no crystal ball, but IDo have a lot of hindsight. To Wit: The faster you make money, the more likely that you are to lose it.
I made money in real estate, not as an investment, but as a place to live. In 50 years I made several hundred grand.
I only lost money once on real estate. I got myself in too deep in a boom town. The boom went bust, and so did I.
Never by in a boom, and never sell in a bust.

I never made money in stocks, made a little in bonds. I think modest real estate holdings are the best and most secure investments over the long term. Bears make money and Bulls make money...but pigs make bacon.:thumbsup:

 

[riptides]

And that's what this thread is about - retirement.

It is too late for me to worry about it for myself but how does one make plans to ensure their company does not fail them?

Separate as much money as you can from your company, or company "investments".

Realize it is a job, and prepare for the next job.

 

[KennyG]

And that's what this thread is about - retirement.

It is too late for me to worry about it for myself but how does one make plans to ensure their company does not fail them?

Keep in mind that the Enron failure impact on retirement investment was vastly over reported. The amount lost looked huge on paper but it was in Enron stock that was falsely inflated. A lot of those employees put a relatively small amount in, saw it grow to 10, 20 or 50 times that amount and then collapse back to the original value.

This is where having a defined contribution program (401K, etc) works well. In my case, the employer will contribute an amount equal to 6% of salary to the 401K if I will save 6% of my income. If you put 12% per year into a long term investment, you will probably be in good shape at retirement. I think there should be a limitation in 401Ks that no more than 10% or so can be in the employers stock.

 

[houstonscott]

Enron was more than just another company that failed. It was pure fraud and a disgrace. Connected at the highest levels in this country, it was a scandal. It reeked to high heaven in my book and I never invested in it but knew many that lost most of heir life savings.

Most people don't even the whole story on Enron, just what the main stream told them, when a State refuses to pay to the tune of $12 billion you go out of business. HS

 

[Parkanzky]

The point is that those scandals/failures happen, but the stock market has still been one of the best (the best?) places to grow wealth over the past 50 years. Right now, money in a savings account decreases in value every day. It's easy to focus on a couple of bad events, but you're doing most people a disservice if you steer them away from the stock market.

 

[mjarrels]

Wife put $100.00 into a BOA account and within six months turned into $50.00 account... dang fees. Don't know why she did it, we have credit union accounts that charge nothing!

mark

 

[JDgreen227]

Wife put $100.00 into a BOA account and within six months turned into $50.00 account... dang fees. Don't know why she did it, we have credit union accounts that charge nothing!

mark

That is EXACTLY the reason I have not had a bank account for twenty years...only credit union accounts. Many people are somewhat ignorant of how bank fees and surcharges add up.

 

[Parkanzky]

That is EXACTLY the reason I have not had a bank account for twenty years...only credit union accounts. Many people are somewhat ignorant of how bank fees and surcharges add up.

We have a bank account and a credit union account. The bank (5/3) checking account has no fees but the credit union charges a fee if the balance drops below $500 at any point in the month. Simple enough, I consider $510 to be our "zero" balance in that account and we never pay a fee. But I bet thousands of people pay that $5/month and waste $60/year.

 

[JDgreen227]

We have a bank account and a credit union account. The bank (5/3) checking account has no fees but the credit union charges a fee if the balance drops below $500 at any point in the month. Simple enough, I consider $510 to be our "zero" balance in that account and we never pay a fee. But I bet thousands of people pay that $5/month and waste $60/year.

My CU (Lake Trust) will charge you $3 a month if you don't maintain a savings/checking account balance of at least $300 a month...the last bank I did business with (NBD) twenty years ago required a $2500 minimum balance in all your accounts to escape a $10 a month "account management fee...."

 

[Parkanzky]

My CU (Lake Trust) will charge you $3 a month if you don't maintain a savings/checking account balance of at least $300 a month...the last bank I did business with (NBD) twenty years ago required a $2500 minimum balance in all your accounts to escape a $10 a month "account management fee...."

That's financial advice we haven't covered here. But it's so important not to pay "negative interest." There are hundreds of different accounts available for all kinds of different financial situations. There's no reason to pay a fee for your checking account anymore unless that account is giving you some kind of fantastic benefit in return.