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Personal Finance and Investing

PoindexterOglethorpe

(27,833 posts)

12. And then there are pensions.

Reply to progree (Reply #10)

Mon Apr 7, 2025, 11:52 PM

Apr 7

My small pension is less than 30% of what it should be, thanks to my former employer going bankrupt twice and turning their pension obligation over to the PBGC (Pension Benefit Guaranty Corporation). I'm fortunate in that I worked for that company in the first ten years of my working life, and never thought that pension would amount to anything. I feel extremely sorry for those who worked for that company for 30 years or so, and suddenly had their pension cut by 2/3.

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Should my husband still keep putting money in his 401K? [View all] Wicked Blue Apr 7 OP

Yes. Absolutely. PoindexterOglethorpe Apr 7 #1

But what if the S&P 500 plunges 30% down from its all time high? Wouldn't that pretty much ruin the supposed great long progree Apr 7 #9

Thank you for that detailed information. PoindexterOglethorpe Apr 7 #11

If he can afford it, and won't need the money for a few years, absolutely. JohnSJ Apr 7 #2

Can he put it into a money market rather than a mutual fund within the 401K? Or a high yield savings within the 401K? Scrivener7 Apr 7 #3

As long as the Felon is in office I believe there will be Tadpole Raisin Apr 7 #4

Free finacial advice based on very little information is worth every penny paid for it. marble falls Apr 7 #5

I do not think DU is the best place to seek investing advice. Big Blue Marble Apr 7 #6

Yes and you should accelerate and put this year's quota today kansasobama Apr 7 #7

The factors I would consider are - health history, is the money likely for your heirs, walkingman Apr 7 #8

I've never heard of a 401k where one is forced to buy stocks and stock funds. They all offer fixed income choices as progree Apr 7 #10

And then there are pensions. PoindexterOglethorpe Apr 7 #12