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.

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Posted by LakeViewLSU

Baton Rouge

Member since Jun 2009

17730 posts

Posted on 1/7/17 at 1:13 pm to notiger1997

quote:
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.

I hope he's not planning on taking it with him when he dies.

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Posted by TygerDurden

Member since Sep 2009

1854 posts

Posted on 1/8/17 at 9:34 am to notiger1997

quote:
some of the railroad guys can retire easily with more than a million in the bank.

This is very true. RR retirement can very lucrative if you can make their 30/60 rule. You can retire full benefits at age 60 if you have at least 30 years service in. Also the spouse can draw 50% of what the RR retiree is drawing monthly without ever having worked at the RR. Damn good deal if you can make it that long with the RR and not get divorced! Problem is RR work is especially tough on operation level employees. Can be a very tough work environment.

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