Really Bad Decisions

Who knows? Lee might be racing for bottom rung on the 401k ladder … but, he also knows that his path to wealth lies elsewhere. That, in itself, is a good thing

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How about hearing the worst first?

For 27 of the 40 years I worked in church related ministry, most but not all of the churches I worked for had a retirement plan where I would pay $52.50 per month and they would match it.  Now remember not all those churches were part of that plan, I “could” have done it myself but decided not to more time than not.  The last 13 years I have been self employed and put “nothing into retirement”  I didn’t even have a savings account. I literally lived check to check. I ended up with less than $50,000 in a retirement plan that I am now drawing approximately $435.00 a month.

My wife had a $10,000 in a retirement plan from a previous employer but was used for downpayment of a house years ago.  She has been working for companies that have very small retirement plans and I’m not exactly sure what they are.

LESSON LEARNED:  If I could do this all over again I would put more into retirement and faithfully do so regardless of what the employer did.  I would also have a savings account