Respected Contributor
Posts: 4,479
Registered: ‎10-11-2017

Is anyone else worried about what th future holds? I keep watching my IRA  losing money and the company I retired from after 45 years is losing ground and I worry about what will happen with  my pension.  I'm too old now to make any of it back. I saved and saved for all this and now it's disappearing.

Valued Contributor
Posts: 887
Registered: ‎07-21-2020

One of my biggest fears is outliving my money. My mother almost did. Most people don't think about it until they get much older, but it's a reality. Elder care as you age is super expensive and not covered by ins. So, I put my fear and my faith in God and give it to him, because with my help, he has always provided my needs. On a lighter note, I read this definition of aging- "I'm tired, my back hurts, where did all my money go"? Hope that gives you a laugh. Take life in stride and don't stress too much over things you cannot change. Life is too short. God bless.

Honored Contributor
Posts: 12,669
Registered: ‎03-09-2010

My husband and I are in the same boat...we watch the IRA's going down.

Our financial advisor told us in Feb of this year that it would be a rough year..economic indicators were not good.


We are still working because we can...we are self employed and really enjoy our work.  We offer a service to business and industry and the closest business like ours is about 30 miles, not far but the person at the business wants to retire.  We feel an obligation to stay open and we will until a piece of equipment gives out or we do....


I feel bad for those that cannot supplement their income.

Honored Contributor
Posts: 19,614
Registered: ‎03-09-2010

One thing I've noticed is CD rates of 5%. That's a nice improvement, although it doesn't cover the inflation rate. Investments are never a sure thing, so I reluctantly accept downturns in the market.

Honored Contributor
Posts: 12,669
Registered: ‎03-09-2010

@KittySoftPaws   Do you have a financial advisor?  Every year, one of the appointments with our financial team goes thru our budget....everything we spend money on and anything in the future like a roof, car, etc.

Each year they let us know what we can take from our investments to live on once we close our business and at what age we run out of money.

Esteemed Contributor
Posts: 5,892
Registered: ‎03-11-2010

In two months my mother will be 101. Her greatest fear was to outlive her money. She is on Hospice now and my brother figures she has about 18-24 months before the money runs out. I used to think I could help her out financially until I had to place my husband in a skilled nursing home. He has advanced Alzheimer's Disease and had a massive stroke last May. I figured out that each month that he's there costs me exactly what my yearly trips to France used to cost me...everything included. My husband and I thought we had a huge nest egg that would allow us to travel the world. I'm not going anywhere except the poor house.

Respected Contributor
Posts: 4,446
Registered: ‎03-09-2010

Yes I am.


The Silicon Valley Bank has been seized and the FDIC has been appointed as receiver.


Scary stuff.........

“I heard the sound I had to follow”
In Your Wildest Dreams by Justin Hayward
Posts: 71
Registered: ‎08-25-2013


Tell me about it!  My husband and I are constantly having this conversation.  We have his 401K money in an annuity and in three years it has only made money ONCE.  Mostly it is Below the original amount we put in - like Way below.  I hate looking at the balance.  The little bit it has gone up isn't going to provide us much extra income during retirement.


His dad - who is 97 - had an annuity so, in come weird way, he feels he needs to do what his dad did because he holds this man on a pedestal, and he feels he'd be going against his dad if we put this money someplace else. 


I don't know the answer to this dilemma, but it keeps me up at night just worrying about it. Husband will fully retire in January 2024 but I'll have to keep working since my full retirement age is different than his. Ugh!  


I just bought a CD with some money I had saved for 9 months at a rate of 5.1% with the help of a financial advisor. Hopefully this will help us add a few extra dollars to our retirement budget.


My mother out lived her money.  She passed at 88. For the last 2 years of her life my husband and I paid her bills.  Trying hard not to be in this same boat. Fingers crossed the future holds better things for everyone.  


Honored Contributor
Posts: 13,645
Registered: ‎07-15-2016

I'm doing okay ....


I went through a giant 401k loss in 2008 recession, but  by the time I retired in 2010, I was able to earn about half of it back.  


When I retired - I got out of the market entirely and bought a life annuity with my 401k funds.  Guaranteed lifetime income.


My former employer is a multinational corporation and I'm confident it's doing well - my pension looks stable.


My social security is generous - I worked for about 50 years.


I saved for years so that my retirement would be "comfortable."  

Honored Contributor
Posts: 13,064
Registered: ‎03-09-2010

I try not to think about it too much. My 401k money is in an IRA cd, at a pitiful rate.  It matures in early May so I hope the cd rates stay up till at least then. 

To be honest, I've been really pleased with the huge increase in cd rates lately and have taken full advantage of that.


And I am a huge fan of American Express's online money market which is currently paying 3.5% interest. And, since it's a money market, you are not locked in to a term. I have had that money market for years. 

Why is it, when I have a 50/50 guess at something, I'm always 100% wrong?