"

OKPrincess · ‎03-10-2013

We are losing too. There is no way we will ever make up the losses.

We are turning 70 this year and depend on monthly distributions from our IRAs to supplement our social security.

skatting44 · ‎07-26-2019

Bloomberg news says " SVB collapses in biggest failure since 2008 "

"

Founded in 1983, SVB specialized in tech industry banking
Prominent VC firms advised portfolio companies to pull cash

Silicon Valley Bank became the biggest US bank failure in more than a decade, after its long-established customer base of tech startups grew worried and yanked deposits.

The move by California state regulators to take possession of the lender on Friday and appoint the Federal Deposit Insurance Corp. receiver caps a vicious fall for a Silicon Valley stalwart. It’s also the second regional lender to fold this week after Silvergate Capital Corp. announced it was voluntarily liquidating its bank, spurring a selloff in bank stocks and concerns that more firms might be headed for closure. "

SeaMaiden · ‎03-10-2010

@catter70 wrote:
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.

@catter70 If you are retired, your pension should be safe no matter what happens to the company you get it from. Kind of like a bank.

4kitties · ‎03-09-2010

And Credit Suisse is delaying the release of its 2022 annual report..🤷‍♀️🤷‍♀️🤷‍♀️🤷‍♀️🤷‍♀️

“I heard the sound I had to follow”
In Your Wildest Dreams by Justin Hayward

KittySoftPaws · ‎07-21-2020

I'm in middle age now and seriously thinking about getting long term health care insurance now. My husband and I have no kids so that helps finacially, and they are never a garantee to help you when you get old so no one should count on that. My husband and I helped his mother for the last 3 years as no one else stepped up (usual story) to get her through Covid and cared for her longer than we promised her. She wouldn't move on and she has the resources. To make matters worse, we've sacrificed a ton for her care and she has treated me horribly. Bad mouths me to her friends, her lawyer, and tries to come between my husband and myself. I know I'm telling one side here, but I can say without any hesitation, I've bent over backwards to treat her with respect and gave her the World. My husband always has my back, and like me, he despises her now. She is a self centered narcissist and has caused so much stress in our marriage. She doesn't care. Now she is going to her own living situation because we told her it's time for us to get on with our lives and her too. No more taking advantage of our good nature. No good deed goes unpunished. I know this was off subject. So, I will never be a burden to anyone, and sad to say, I will never care for a family member again.

"Have a heart that never hardens, and a temper that never tires, and a touch that never hurts." Charles Dickens

ALRATIBA · ‎07-15-2016

@SeaMaiden

My father was retired from a management position at PanAmerican when they went bankrupt. Other family members also worked for the airline.

Perhaps unionized workers got their pensions ... my father lost his. Fortunately my parents had savings and social security.

-------------------------------------

@SeaMaiden wrote:
@catter70 wrote:
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.
@catter70 If you are retired, your pension should be safe no matter what happens to the company you get it from. Kind of like a bank.

proudlyfromNJ · ‎05-01-2010

@ALRATIBA wrote:
@SeaMaiden

My father was retired from a management position at PanAmerican when they went bankrupt. Other family members also worked for the airline.

Perhaps unionized workers got their pensions ... my father lost his. Fortunately my parents had savings and social security.
-------------------------------------
@SeaMaiden wrote:
@catter70 wrote:
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.
@catter70 If you are retired, your pension should be safe no matter what happens to the company you get it from. Kind of like a bank.

@ALRATIBA I also worked for Pan Am for almost twenty years. Actually till they went out of business. We were in a union and barely got a pension as the Teamsters absconded with it.

meem120 · ‎03-09-2010

Worried, me too. We have lost a heck of alot of $$ in the last year. We'll never be able to make it up.

RollTide2008 · ‎02-14-2017

@4kitties wrote:
Yes I am.

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

Scary stuff.........

That's more the nature of SVB and their high risk VC portfolio clients than a symptom of anything that's going on in banking right now.

RollTide2008 · ‎02-14-2017

@proudlyfromNJ wrote:
@ALRATIBA wrote:
@SeaMaiden

My father was retired from a management position at PanAmerican when they went bankrupt. Other family members also worked for the airline.

Perhaps unionized workers got their pensions ... my father lost his. Fortunately my parents had savings and social security.
-------------------------------------
@SeaMaiden wrote:
@catter70 wrote:
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.
@catter70 If you are retired, your pension should be safe no matter what happens to the company you get it from. Kind of like a bank.

@ALRATIBA I also worked for Pan Am for almost twenty years. Actually till they went out of business. We were in a union and barely got a pension as the Teamsters absconded with it.