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Subject:  Re: Retirement in danger Date:  10/26/2008  10:02 PM
Author:  aj485 Number:  1307 of 1701

He has an annual pension of $30,000. The amount he will receive from social security wasn't stated, but probably would be in the $20,000 range. The provides a $50,000 annual income without any use of savings.

He planned on a pension of $30k annually. Because of the bankruptcy of his company 3 years ago, his pension has been cut to about $5k annually, as well as having his retiree health plan cancelled.

Then he 'blew through' all the money in his 401(k) while training for a new career, which indicates he had no emergency fund or other resources.