I worked for AT&T for thirty years and left them with a small monthly retirement of $1700.00 and month and Health Insurance. This is good but far from enough to retire. I have three children, two are now married but the third is still home going to college. She is due to graduate in the fall of this year 2015. However, I am sure I will have to support her until she gets a good paying job.
I left AT&T in 2003 and tried to build a small business. After a year, I was offered a job and took it because the steady paycheck was very appealing. Since that new job in 2004, I changed jobs five times until going back to a fortune 500 company where I still am.
So, it is now 2015, I am 60 and still want to retire, but have realized I do not have enough money to do that. I run the numbers all the time and see that I should wait to the age of 66 before pulling Social Security. I have managed to save $500,000 in IRA money but my retirement programs tell me I need $1,000,000. I do not see making it to $1,000,000 before 66 years of age.
So, will I have to work until I fall dead? I hope not.
Anyone else have a story to tell about the dream of retirement?