Comments by "Mike Nixon" (@mikenixon2401) on "Vincent Chan" channel.

I am a boomer and remember when pensions switched to 401k. Most of us had no clue what this meant. Rollovers when going to one employer to another also cost us. We were accustomed to our dads working at the same place for 30-40 years and racking up a nice retirement package. The economic and cultural changes meant the average job expectancy was 5 to 10 years. Having to live off a 401k helped carry over while looking for new employment didn't help. So we were paying income taxes and penalties from a cashed out 401k. My wife and I tried to save, but had no idea how medical expenses can drain that "smart" savings. Sure, some have done very well financially. That's great. But as reported here I am among those living off my Social Security. Thank God we get by, but barely make it. So, if you are young and starting a career get a savings program and discipline yourself to pay into that every pay period. Do not touch it. Interest rates fluctuate over 40 years, but you will not lose money as you do when the stock market ruins your 401k. A lot of rambling on my part, I know. I just want to warn you, not to let what happened to me over 46 years happen to you.
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Thank you for your honesty and through it all positive sounding attitude. Yes, we aging parents would not want our kids to be forced to care for us. God bless you for taking your parents into your home rather than dumping them into a retirement home where they would just wait for death. Quality of life means more than money when you find yourself looking at 70. God bless you and your family. Please offer a greeting to your parents from us.
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Your mother's story is not uncommon. I also have a rare brain disease that has robbed much of my physical abilities. I appreciate your honesty with your comment. My wife had to leave the workforce early to care for me. The Obamacare was too expensive, so when she ad a heart attack five years ago she had no insurance. When you're 24 and know everything comes back to kick you later if you are not careful. We wish you and your family the best. God bless.
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Well @RRL110 I would fit in the first line, but I never received a pension. I would encourage you not to make sweeping generalizations based on one example you have seen. I'm happy for your sister's well being. She was among the final people that lived and worked at the same place for a long time. Not all careers are built that way. Have a good evening.
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@SourGravity please do not misunderstand. We have insurance, but because of medical costs, the insurance coverage is reduced while premiums increase. The good part is I can get in to see my doctors and do not have to wait months as do some of my friends in countries with socialized medicine (which is pai through their taxes). I'm not trying to seek pity or start a debate on which medical plans are better or worse. I blame the current government administration and big pharma. It's that simple. Thank you for your kind words.
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Me too. Fortunately for me I had a secure career wage and receive more Social Security and Medicare than many people. Remember how fortunate we were to have lived a life during an era our grandchildren will probably never experience. On a more positive note, we are more than our limitations. We've earned the right to be respected. I find living with that as a positive attitude helps. God bless and guide you.
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@user-lz6dm5lk9y I think I agree. No doubt the banks and stock brokers made plenty. I've lived the higher class level and now I live a more modest level. Here I am closer to my wife and to God. Now, that is satisfaction. A quality of life investment.
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Thank you @notisac3149
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