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only 1 more car payment

October 26th, 2005 at 08:22 pm

walked with mom for 55 min

Made my second to last car payment today, only one more to go. So happy Smile

I got my citi dividend platinum select card bill today. This card gives you 5% back on gas, grocery and drugstore purchases and 1% on everything else. I see they have a referral program now. You can refer up to 5 people and for each one that is approved you get $25. If you have this card and know of anyone who wants one, that's a pretty cool deal.

I read this very scary article in Time magazine today. It's called Broken Promises and it's about how so many companies are defaulting on their pension promises. It's also about how unlikely it is that people will be able to retire the way our parents retired. Most people may not be able to retire at all. It talks about how underfunded all the company and governement pensions are and how overburdened they will become in the next few years. Talk of rising taxes and less pensions and SS benefits. It was pretty scary. My retirement planning doesn't rely on my two very small pension promises, but it does account for them and I hope I get to collect them. As for Social Security I'm hoping to get it, but could make it without. I'd be very unhappy about it though and life would be more skimpy than I would like. I guess the best I can do is keep saving and investing and pay attention to what's happening in the world. I'll have to make my final decision about if I'm truly comfortable retiring at 50 in a little more than 5 years. Even if I decide to work a few years longer for security, it's still a lot earlier than most people can retire.

3 Responses to “only 1 more car payment”

  1. Anonymous Says:

    My parents retired at 50 with no pensions... they're living in the $12K to $15K per year range and seem to be happy. House is paid for, of course... They're happy because SS kicks in 2 years from now and that'll give them more "fun money" but they would be able to do okay without it as well. Wishing you luck!

  2. Anonymous Says:

    (Early) congratulations on paying off your car. It's SUCH a good feeling and lasts much longer than the new car high. Smile

  3. Anonymous Says:

    I got that issue earlier in the week and haven't gotten around to reading it. I'll have to do it tonight. My dad is a Lucent retiree and is really concerned that they're going to fail on their pension obligations. At the very least, he's concerned that they will take away/drastically reduce their retiree health care benefits, which would also hit him pretty hard.

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