In 1997 my Pop retired from a large corporation he had worked at for 27 years. He figured because of the retirement package he had, he and my Mother would be fine. Not rich mind you, but they should be able to live somewhat comfortably.
All appeared to be well. The Company was strong financially, and business was doing rather well. Pop was in the chemical sales business and worldwide the corporation did Billions in sales a year. It seemed that Pop had done well, sure he could have worked a few more years however, his health was starting to fail him. He had bypass surgery and a tree had fallen on him, breaking his back and neck, some years before. On paper according to Pops retirement package they would be OK. True the original corporation he had started with had sold to a larger corporation 7 years before, but hey he had 27 years in and he was vested.
So Pop went ahead with his retirement plans. Mom was going to work a little part time job, just to keep busy. Her health was good and she felt like working a little longer just to add to her social security. Pop was of course retiring before Mom was of age to draw her social security check and thank God they had insurance as part of Pops retirement package, well they had to pay a larger premium, because Pop was no longer considered a full time employee, but remember they were supposed to be OK.
On the day he retired he got all the information about his pay schedule and benefits package. Welcome to the Golden Years Pop. What a shock it was to him when he saw just how little he was to receive. Remember I told you a larger, better, corporation had bought them out 7 years ago? Well in the buy out all the mony put into the retirement were part of the buy out. The original corporation was allowed to keep all the money the employees had paid in. That is just not right, that money should have been set aside for the employees that had paid into and put in the time, making that company rich. That was supposed to be their money. Money for the so-called Golden Years. The years a man was promised after giving his working life making a company millions upon millions.
The bottom line was my Pop was only vested for the last 7 years. The first 20 years didn't count. They were a bonus for the first company, a freebie. Does that seem fair to you? Pop sat down and looked at all the cash he was going to have to put out every month, including the increase in insurance, remember he was no longer a full time employee. Full time employees have their portion of that family policy paid by the large and great company that he worked for. That he made millions, if not billions, for those 27 years he gave them. Oh did I tell you that Pop was mid-level management. A branch manager was his title. He had done well for the company in his 27 year career.
As he looked at the outlay of cash, just to pay the basic bills. Mortgage, food, utilities, home-owners insurance, you know all the stuff we all have to pay every month so we too can live the American Dream. To Pops surprise he found out that day he would need another full time job right away, if he wanted to be able to make his mortgage payment in the next 2 months when his savings would run out. The savings were going to have to be used to supplement his glorious retirement income he worked all those years for. Imagine the feelings my Pop felt that day. The betrayal he must have felt. Not only by the companies that did this to him, but to the Government he paid his taxes to. How could the Government allow a company to sell out to a larger public company, one traded on the very stock exchange we Americans invest in, do this to not only my Pop but millions of other hard working Americans.
Friends we are running out of options to live that American dream. If this can happen to millions of hard working American, like my Pop. What makes you think it won't happen to you?
I never met anyone who planned to fail, however, I have met too many people that have failed to plan.
Don't be one that fails to plan! Protect what you have worked for while there is still a little to protect.
It really doesn't matter how much or how little of your money you protect. What matters is you PROTECT SOMETHING.
Watch for my recommendation on some very affordable ways to protect something, no matter how small the amount coming to you all in the morning!!!!!
Thanks in advance,
Ronnie Busby
No comments:
Post a Comment