Ouch! I am bad....but not that bad. Made unwise investment choices over the years.... like stopping my TSP (govt 401k) for a year or two due to repeated trips to Australia to see a boyfriend.... taking out loans from the thing...etc. All water under the bridge now that I am retired.
Fortunately I always knew for the last 30 years what my retirement date would be (mandatory) and what my pension would give me. The rehired annuitant thing is a pure bonus because the agency hasn't allowed it in 20 years or more. Lets me really focus on covering some long term things like paying off my mortgages for 2 houses early so I don't have to dip into the 401k if I don't want to. Most people don't realize that retirement is a freight train coming.
I used to urge anyone who would listen to me to take 3 retirement courses in their careers - 15 years in - 25 years in and 2 years before pulling the plug. I've had a few over the years come back to me and thank me profusely because they had no idea the courses existed or what they needed to do to prepare. I would recommend the same for those non-govvies - to talk to a financial planner. You don't need money to do it - that is the whole idea - to take yourself from having nothing to having something one day when the time comes.
If this thing ever truly gives us what some of you think - I believe I will end up buying dividend stocks to supplement my pension - like AT&T, utilities, energy companies, healthcare companies - because no matter how it is sliced - I make bad financial decisions and will no doubt continue to and therefore must make safer decisions as i get older....except of course for my trips to the casino ;o)
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