Comment on Why would someone desite a pension instead of a 401k?
Quetzalcutlass@lemmy.world 5 days agoYeah, I remember my parents talking about how badly they were hit in the late 00s. They were considering retirement just as the recession struck, and they lost a huge chunk of what they’d hoped to retire on.
They still haven’t retired fifteen years later despite declining health.
BombOmOm@lemmy.world 5 days ago
Stocks are 293% higher today than they were at the peak of 2007. Even if they bought all of their stock at that peak right before the 2008 recession, the market had fully recovered by 2012. It isn’t the market keeping them from retiring…
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Quetzalcutlass@lemmy.world 3 days ago
I’ve never asked, but I believe medical issues cropped up and their reduced retirement funds wouldn’t have been enough, forcing them to keep working, and the situation spiraled from there.