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Posted on 1/7/17 at 1:09 pm to Modern
quote:
Many plant workers can retire millionaires if they play their cards right with stocks, 401ks and pensions.
Yep, my uncle retired from a refinery with a few million. Dude never let on that he had money. Lived in the same smaller house for 40 years. Browned bag his lunches and rarely went out to eat or took nice trips.
My friend was in the investment business and some of his co-workers handled accounts of retiring guys from Exxon. All many of those men wanted as a dream was to pay off their houses and be able to retire at 65 with a nice bass boat.
They are retiring at 55 with millions in stocks. That's why it's so sad when uninformed people like to assume that when a company does well with stock prices, that somehow only old white CEO's are keeping the profits.
Also, some of the railroad guys can retire easily with more than a million in the bank.
Posted on 1/7/17 at 1:19 pm to Modern
quote:
Many plant workers can retire millionaires if they play their cards right with stocks, 401ks and pensions.
I'm in construction and know a few guys that are around 40 that have a couple hundred K in liquid assets alone. I don't know how they're doing with retirement and such but I'd imagine they're putting something away if they're disciplined enough to have that much in short term savings alone
Posted on 1/7/17 at 2:42 pm to Modern
quote:
Many plant workers can retire millionaires if they play their cards right with stocks, 401ks and pensions.
^^^^This^^^^^
I have an uncle that retired from Monsanto in Luling.
He was on the crew that built the original plant in the early '50s. After construction was done, he went to work for the plant. By the time he retired in the early '90s, his total retirement package (company stock, pension, 401k, etc) was worth about 1.5 million.
Posted on 1/8/17 at 10:01 am to Modern
quote:
Many plant workers can retire millionaires if they play their cards right with stocks, 401ks and pensions
All of them should.
You can put 50k in the bank every year doing instrumentation if you don't live like a fricking idiot.
Posted on 1/8/17 at 10:08 am to Modern
quote:
Many plant workers can retire millionaires if they play their cards right with stocks, 401ks and pensions.
Not to mention that with 50 hours of OT per week, they don't even have time to spend what they earn.
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