Monday, May 31, 2010

When retirement is not your option, but their option

Jenny: I can't believe Samantha saw me in my sweats at the grocery store Friday, what was even more surprising was what she shared with me on that day.

Samantha: How are you and your lovely family doing Mr. Jenny?

Jenny: We are fine, sorry I'm dressed like this, but my wife needs pepper and of all things toilet paper, but enough about me how are you, the baby, the kids, and hubby?

Samantha: The kids & I are great, but Charles is not doing so well these days.

Jenny: Anything I can do to cheer him up? I could take him out for a round of golf, but seeing that he is yet to beat me that might not be the answer huh.

Samantha: I'll call you Monday and explain the dilemma ok.

Jenny: Ok see ya!

MONDAY MORNING 9:27 a.m.

Samantha: Good morning Jenny.

Jenny: Good morning how are you? What seems to be the dilemma with your husband Charles?

Samantha: Well remember I told you about his sister last year and the cutbacks their district was having?

Jenny: Yes I do.

Samantha: Well she retired about two weeks ago.

Jenny: That's Great!

Samantha: Well, yeah but it was not her option. Her brother (my hubby) Charles is worried about her because she is widowed and only had her one income.

Jenny: Oh really?

Samantha: She thinks she needs more money. I mean she's only 55 yrs old and has about $250,000 in her pension. What should she do? Does she have enough?

Jenny: The drive "55 retirement rule" should point her in the right direction. "Most people think about one thing when they get older and that is worrying about not having enough money for retirement"

"In reality if you don't have more than $550,000 by 55 yrs old, then it's almost impossible to retire at $55,000"…………….The New American Dream-Jenny Jones

Jenny: Samantha, tell her to call me I know exactly what she should do.