Many years ago, my Dad was in a joyful mood. He was retiring from a small food brokerage firm with a nice pension. He had worked hard all his life and was now reaping the benefit of those years of labor. He retired at 65 and lived another 30 years. He and my mother had a great retirement together (except for her vision problems), but financially they were as secure as anyone could be.
As we look at today’s retirement situation how things have changed. Over the past 30-35 years, the stability of retirement funds has disappeared. Sure the 401K has been added, like other “saving or retirement programs”. But the mainstream “pensions” are drying up like a river bed in the hot Arizona sun.
The promises of many companies cannot be fulfilled because of economic cutbacks. One day you have a great retirement fund to look forward to and whamo…it’s gone.
There were many retirement stock market programs that some of you took out. Many again, are gone! Even with the present economic upswing, many retirement plans no longer exist.
OK, maybe your plan is intact. You are maybe one of the fortunate ones with an adequate pension but so many have lost theirs as companies reduce benefits to cut their expenses.
Even with a good retirement plan, are you financially happy? Can you do the things you wanted to do before you retired? Since you are reading this article, one has to assume that you could use some senior income opportunities.