This could be of importance.
Over 50 – No Pension, No 401K – What Now?
http://outofyourrut.com/blog/2010/03/25/over-50-and-no-pension-or-retirement-plan-what-now/
Over 50 No Pension, No 401K What Now?
by VM44 10 Replies latest jw friends
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lovelylil
This is good information. Especailly for those raised in the borg who are now really behind for their retirement. Peace, Lilly
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PYRAMIDSCHEME
It's sad to think of all the brothers and sisters in that boat.
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VM44
No Pension, No 401K, No Savings, means No Retirement!
Depressing.
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sir82
AKA...
In what financial position are the thousands of Bethelites who were kicked out of the US Bethel over the past 5 years?
And the hundreds of thousands who "put Kingdom Intrests first", expecting to waltz into paradise and play with lion cubs, who now face the prospect of, quite literally, working hard until they are dead.
Quite sad.
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mindmelda
I'm in that boat, but a lot of other people besides Witnesses have lost a substantial part of their retirement and pensions in the recession and have had to go back to work or continue working.
My dad ignored all the WTS advice and got a job with a good pension and 401K and was able to retire early. Didn't lose much in the recession. Living fairly comfortably albeit without some of the luxuries he intended.
He was severely critcized by some of the other elders for setting himself up well during his working years, of course. One of many reasons he stepped down as an elder.
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moshe
You don't have to be rich to be happy. I met many retired Americans in Cebu, Philippines back in 1998 on vacation. Back then the rate was $100/mo for a driver/handyman, $80/mo for a houskeeper and $100/mo for a cook.
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TotallyADD
This is why the Misses and I are going to be selling donuts in our new business this coming Sept. The recession hurt us alot. So in our late 50's we will be starting a new life. Away from the cult and elbow deep in donut dough LOL. We have some savings set up for retirement but that will not be enough for us to live on. I am not going to end up like my parents did were we had to come in and take care of them. Totally ADD
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mindmelda
My husband and I started over again in our early 50s, he's now doing a lower paying but less stressful job with some good benefits (one being housing), and I'm going to be looking for some part time work here and there.
We used to run a plumbing/construction business in one of the areas that really got wacked by the housing recession. But, hey, I figure I'm going to end up on disability someday because of my health issues anyway and if there is none in 10 years, well, I'll be in the same boat as millions of other Americans.
We're just greasing that skid to becoming a third world country, aren't we?
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Sam Whiskey
Think.....what types of businesses are Recession proof? What do people have to have even if they don't have much? Cell phones are a good example. People will keep their cell phone even if they have to steal the money to pay their bill.
Think like that...and you'll come up with a good business idea.
