Retirement Planning: Help me sort this out

[Greenhand]

Originally Posted by a64pilot

OK, I've bitten my tongue from the first post. As a person that goes to work every work day and has two weeks off a year to enjoy, I have to agree with Kenomac.
From my understanding these people have over 100K that has been saved towards their retirement, and ALL of that has been put into a retirement plan by their part time employer? I think they owe their employer a huge thank you, because without him putting money back for them, how much have they saved for retirement?
They enjoy a four month vacation every year, I might add what keeps them from having a second job for this four months?
Myself, I would love a four month vacation, I could really cruise in a four month span of time.

No, they chose their living, their lifestyle, it wasn't forced upon them. I see the as being extremely lucky, I'd kill for that four months

Become a college lecturer. With a Masters in certain fields, you can make $25k-30k just working the college academic year, without the research responsibilities that professors have and without the training requirements most primary and secondary teachers have.


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[jnemeth]

I also work for this company and it's a great job! The ESOP has made several people very rich and they have happy retirements! Sure, things with this economy have change things but we believe in what we do and change peoples lives with lasting memories of love ones. So keep your sail full and don't listen to all this Hot air!


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[colemj]

Originally Posted by a64pilot

OK, I've bitten my tongue from the first post. As a person that goes to work every work day and has two weeks off a year to enjoy, I have to agree with Kenomac.
From my understanding these people have over 100K that has been saved towards their retirement, and ALL of that has been put into a retirement plan by their part time employer? I think they owe their employer a huge thank you, because without him putting money back for them, how much have they saved for retirement?
They enjoy a four month vacation every year, I might add what keeps them from having a second job for this four months?
Myself, I would love a four month vacation, I could really cruise in a four month span of time.

No, they chose their living, their lifestyle, it wasn't forced upon them. I see the as being extremely lucky, I'd kill for that four months

Don't many of us also have retirement money contributed by our employer? Don't most people rely on this and their retirement savings would be much lower without it? I'm failing to see why they are more coddled than us, and why they owe their employer more thanks than others.

Go back and reread their postings. Their non-employed time is broken up quite inconveniently, and they do seek employment during these times. The problem is that they cannot count on steady employment routinely during these odd times. How many employers do you know of are looking for workers who can only work for one month, then leave for a couple months, then work for two more, then that is it for another nine months when they will be ready again?

There are many, many jobs like this - autoworkers, for example, are routinely laid off for several months during the year and count on unemployment when they are. Many also take on odd jobs when they can during these times. Lawn care and landscaping in northern climes is another example. As has been pointed out, commercial fisherman also live like this.

One can judge and try to cut personal lines as to which jobs are necessary and which are a waste, but the reality is that much of our economy is better with people in these types of jobs, and the industries they are employed in agree and support this - they need to regularly lay off skilled workers for various reasons, and count on a system where they can bring them straight back into skilled positions for the majority of the time. The US congress does the same, btw.

Now, if we are talking about what types of jobs are worthy and noble and which are lazy leaches on society, I don't think many here would want that mirror shined their way - regardless if you are employed full-time. That discussion could get very ugly indeed. For example, I'm a (was) Ph.D. research physical scientist and I continually get harangued for being a bad guy in an evil job and an example of what is wrong with the world and what we should have fewer of in the work force. Don't get anyone started on lawyers and politicians!

Mark

[Coops]

Or car dealers, boat brokers and musicians. I have been all three. I am merely muddy dross at the bottom of a crystal ocean..

Coops.

[lippysyd]

Mark, I could hug you right now. Thank you for putting that so eloquently.

The bottom line is, our careers are complicated. It would be easy to walk away if my first priority was money, but clearly (for better and worse) it's not. Did we stay too late at the party? Sure. But this crazy work schedule of ours has afforded us many opportunities that don't have a price tag. We got to be stay at home parents and still have income. I think, because of that, we have a much stronger relationship with our daughter. I was able to care for my Dad when he was dying without conflicting with work because it happened while I was off. Now I'm caring nearly full time for my Mom, who has Alzheimer's. Keeps her from the nursing home a little longer.

I'm just so sensitive to the 'lazy' tag. I work hard at my job- I happily worked 22 days straight in May and most of those were 12+ hour days. I'm proud of that. I'm busy all the time; sometimes it comes with a paycheck, sometimes it doesn't.

But many of you are right. Time to put money at a higher priority. Time to switch focus.

[StuM]

Originally Posted by Coops

Or car dealers, boat brokers and musicians. I have been all three. I am merely muddy dross at the bottom of a crystal ocean..

Coops.

Step this way... the B Ark is right through the door

[Coops]

Originally Posted by StuM

Step this way... the B Ark is right through the door

That'll be out the Bark door then, as always.

Coops.

[fishin4bogey]

Lippy, my best friend took the NY Institute of Photography home study course, then went on to shoot ads for Verizon, Motorola, Miami Metro Zoo, and department store ads. When he was banging it out a 1500 dollar day was the norm NOT the exception. It is a very competitive industry, especially here in South Florida, and even more so in the digital age. Every jackwagon with a Rebel and a kit lens thinks he's a photographer. If you have your own equipment get out there and shoot!!

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[FollowingCs]

Originally Posted by Kenomac

I tell my European friends of this sort of behavior and at first

LOL, the 32 hours a week European friends with 8 weeks holiday every year? too funny.

[crazyoldboatguy]

@FollowingCs,

+1

[a64pilot]

Originally Posted by colemj

Don't many of us also have retirement money contributed by our employer? Don't most people rely on this and their retirement savings would be much lower without it? I'm failing to see why they are more coddled than us, and why they owe their employer more thanks than others.

Go back and reread their postings. Their non-employed time is broken up quite inconveniently, and they do seek employment during these times. The problem is that they cannot count on steady employment routinely during these odd times. How many employers do you know of are looking for workers who can only work for one month, then leave for a couple months, then work for two more, then that is it for another nine months when they will be ready again?

There are many, many jobs like this - autoworkers, for example, are routinely laid off for several months during the year and count on unemployment when they are. Many also take on odd jobs when they can during these times. Lawn care and landscaping in northern climes is another example. As has been pointed out, commercial fisherman also live like this.
Mark

1. Part time jobs that have benefits are as rare as hens teeth, I'd tell you that part time jobs will increase in number for just that reason.

2. I got that it was four months together, is it broken up a month here and there?

3. Yes, too many jobs are part time, fishermen and others, most of those people work doing something, even menial work if need be in off times, ever heard of a fisherman getting money in an ESOP of equivalent?

I stand by my statement that they should be thanking their employer for the ESOP, as without it, I think there wouldn't be much in savings and the employer is not putting money back for the because they have to.
Sounds like they are good guys, and there are far too few of them left.

[SVNeko]

Judging by the OP's last response she gets it and is also being affected a bit by the negativity of some posters. That's life on the internet. I think she understands where she is and what needs doing. In very basic terms: earn more, save more and diversify that ESOP. They seem like a hard working and smart enough couple to get it done. They might not cruise in the lap of luxury but they've made other choices which have enriched their lives. And as Jay points out, the benefits are there for the taking. There's no moral issue with that so long as it is not done illegally or fraudulently, which for all we know seems to be the case. So to me, its all good for them. Just get started on it sooner rather than later if you don't want it to to end up just some dusty old unfulfilled dream.

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[oldragbaggers]

Originally Posted by Kenomac

It's no different that a school teacher accepting an 8 month job at a fixed salary, then going on public assistance or unemployment... basically living on others, for the remainder of the year. I'm not saying all or most teachers do this, but I do know of some who do.

Ken

I have no skin in this game and don't really want to comment on the OP's situation, but I was a little taken back by this comment. My husband and I both work for many years now for a large school system. I am a 12 month employee now and so is he, but for years I was a 10 month employee and he was a teacher as well. We work with and know well many teachers over many years and I have yet to meet one that has ever spoken of going on unemployment during the off season. They teach summer school, they write curriculum, they get a job at Olive Garden or they budget during the 10 months they work to cover the 2 months they don't. They teach because they love it and it's their calling and don't consider it anything "less" because their work year is 10 months instead of 12. I have a hard time believing that going on unemployment is common practice for educators. That having been said, I was a little surprised to hear that the OP is able to do it. Not judging....just surprised.

[Greenhand]

In most states, teachers are not eligible for unemployment. However, in those states the OP would not be eligible, either, as a seasonal worker with reasonable expectation of being rehired.

[CaptainBW]

You might want to talk to someone at a Fidelity office. We have had several financial advisers over the years and have settled on Fidelity. They have advisers that will assist you in the use of their planning tools (which are very good) and with making and managing your investments. They charge nothing for this and we are getting better advice than we did paying 2% of our portfolio every year with other advisers. You may need to open an account with them, but you can have investment assets outside of Fidelity and they will still advise you on them. They sometimes recommend Fidelity funds, but more times they have recommended things outside of Fidelity. There may be a minimum portfolio that you need to get this service, I don't know, but it is worth checking out. Maybe start by poking around on their web site www.fidelity.com or call their 800 number.

Good luck sorting it out...I hope you get to achieve your dream.