Don’t worry, he won’t stop working. He’ll spend the next 15 years as a ‘consultant’ in his old position and make 100 times more than he did as an employee.
It probably means that he retired from a job and receives that retirement pay, but he still won’t qualify for social security or other benefits until he hits whatever age they’ve raised it to. Some companies let you retire after 20 years, some even less.
Lol actual pensions are rare in the US these days. Most companies/institutions just do a 401k - the decline of which is exactly what will kill your early retirement plans.
It think it’s like suing someone. You can sue whomever you want for any reason but that doesn’t mean it’s going to be successful. If this guy is retired yet keeps all his retirement money in volatile stocks, he’s not going to be successful in retirement.
“Victor Fettes, 54, of Georgia, who retired last week”
Fucking hell, you guys can retire at FIFTY FOUR?
He was senior director of risk management, so I assume more than 100k+ salary a year.
I’m surprised he kept his job so long, seeing how poorly he managed his own risks…
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ZING!
Don’t worry, he won’t stop working. He’ll spend the next 15 years as a ‘consultant’ in his old position and make 100 times more than he did as an employee.
It probably means that he retired from a job and receives that retirement pay, but he still won’t qualify for social security or other benefits until he hits whatever age they’ve raised it to. Some companies let you retire after 20 years, some even less.
Lol actual pensions are rare in the US these days. Most companies/institutions just do a 401k - the decline of which is exactly what will kill your early retirement plans.
It think it’s like suing someone. You can sue whomever you want for any reason but that doesn’t mean it’s going to be successful. If this guy is retired yet keeps all his retirement money in volatile stocks, he’s not going to be successful in retirement.
Very very few can. Or do. But yes.
He can’t access that 401k without some pretty significant restrictions or penalties, though.