Many years ago, my Dad was in a joyful mood. He was retiring from a small food brokerage with a nice pension. He had worked hard all of 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 any one could be.
But now days things have really changed. Through the past 30-35 years, the stability of retirement funds have disappeared. Sure the 401K has been added, as 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 hard economic times. One day you have a great retirement fund to look forward to and whamo…it’s gone. There were many retirement stock market programs which some of you took out. Many again, are gone!