[mustardjohn]

Bad situation. Another negative about pensions is that they are often back end loaded to keep you in a job with significant penalties if you don't reach a certain age, say 58, and years of service. The total of age and service adding to 85. Penalties can be as high as -10%/year for every year under 85. What we need is portable pensions. The comapnies don't want this as it adds to turnover problems. It would be great to get to count all work service toward the 85. But loyalty of large companies is waning and it is getting harder and harder to get to the magic 85. Looks like I won't make it as our company is being spun off and sold. It could be worse though. Looks like I will get to retire and draw a pension while still working. Maybe. Other wise I will be in the job market. Which gets harder the older you get.

You are so right on the 401K. Save save save! You will need it as pension plus Social Security will not make the wheels turn. Alternative is to downsize your life. But with property taxes and health care costs on the rise just those two items alone can cost several months pay.

Florida is great but there are many nice warm places on the Gulf Coast in Mississippi, Alabama, Texas and Louisana that may be less expensive. South Georgia ain't bad either.