Thread regarding AT&T layoffs

@108+1jzpqcxw7
@1vj+1jzpqcxw7

I haven't heard any advisors stating numbers this high. Please provide source. Plenty of people retire in their early sixties with 1M or less. The amount you need depends on many things

• Where you live (taxes, cost of living, etc)
• What your fixed expenses are
• How much travel you want to do
• Do you need home renovations
• Do you want to buy a car every 4 or 5 years
• Do you need to pay for any college or weddings
• How your money is invested

etc, etc.

Lots of variables. While more is better, most folks will not have 2.5M to retire and will do just fine. Always advisable to meet with a planner to review your numbers and see if you can meet your goals with what you have.

One needs $2.7M to $3.4M to retire at 65 financial advisors are stating without any liabilities/

@gc you have to retire at 65?

Enough to allow me to earn more in my sleep than I do working at AT&T. Also I'm just a stupid "Union Slug".
Retirement in my early 50's is pretty nice.

58, 1.25M 401k, 280k pension, couple hundred K in other in other investments/spouse 401k. Will retire when closer to Medicare age unless I get tired and can find a good open market plan.

@108 Depends on where you live, and your spending habits, but most of the recent studies have upped their 1M estimate to 1.26ish average. (Northwestern Mutual and GoBanking; the latter is the amt give for New Yorkers. They say 1.46 for CA & 2M for Hawaii.) Fidelity's rule of thumb is 10x your salary, which would put most of AT&T grunts between 1-almost 2M. So your estimate of 2.7 is pretty balling. Rather to err on the conservative side, agreed.

https://www.gobankingrates.com/retirement/planning/how-much-need-survive-retirement-state/

I’m reading comments and it seems all of you are millionaires at att. Crazy so much negative on this site while at same time everyone is literally rich lol I’m shocked all the millions everyone has here like dang I don’t wanna get layed off or leave if people got millions in their savings working here sheesh yall ballin

News Flash, One million is very far from rich these days. One needs a lot more than that to live comfortably in retirement try doubling it and add another 700K which is what is being said is needed to retire in ones 60's/

$411k in 401k, $141k in pension. 10 more years to go before retirement, should almost 3X 401k.

@tz "Laughing at the Bellsouth people?"

No, you misunderstand. I am one of the BellSouth people. I never tell my stats on these threads when I read the non-BellSouthers saying they have pensions of 600, 700, 800k and more pensions because ours aren't nearly that high.

59 yrs old, $700K in 401k, $370K in my pension. Plus I have $60K in Roth and another $58K in Traditional IRA and $17K in HSA.

“ If I had to do it all over again, I would have contributed to a ROTH 401k, ROTH IRA, etc..Not sure if AT&T even offers a ROTH 401K now.”

They do offer both Roth and Traditional. I agree, I have just shy of 2M but it’s all in traditional. I wish I would have done it all in Roth in hindsight. Oh well. There are worse problems to have as I see it.

@nt
Laughing at the Bellsouth people?

Got separated as a former BLS L2 manager in 2020 (who made it thru the T acquisition for several years) at age 56 with the pension rollover and a 401k. Haven't needed to work since. No mortgage and no need to explain any more to you.

I feel sorry for you - meanwhile, I'm living the life where 'every day is Saturday' (and then some).

Good luck, my feeble friend.

Hope everyone with the high nest eggs (million or more) understand the implications of future RMDs on your Tax liability and future Medicare premiums, assuming your contributions were before Tax.

If I had to do it all over again, I would have contributed to a ROTH 401k, ROTH IRA, etc..
Not sure if AT&T even offers a ROTH 401K now. Retired 7 years ago.

Good luck.

28 million. Bought 3000 shares of Nvidia 10 years ago

52 here. About $700k in retirement accounts, a small but healthy amount in HSA and about 700k in Bitcoin. Retirement age is ASAP but I fear got a ways to go still.

Haha, the BellSouth people read the pension amounts commented and slowly back out of the room.

Me and the wife both work @ at&t. We have $4.2M in 401K and lump sum pension benie! I told my wife we was safe.

It’s all about income and taxes during retirement. SS is going bankrupt by 2031. Better call Fidelity

I’m reading comments and it seems all of you are millionaires at att. Crazy so much negative on this site while at same time everyone is literally rich lol I’m shocked all the millions everyone has here like dang I don’t wanna get layed off or leave if people got millions in their savings working here sheesh yall ballin

52. Not enuff

@dh Newsbreak, that "bump" on your skin that you think is a pi-ple, ain't really a pi-ple.

“ Harvesting data to sell?”

Nope. Just organs

“ Harvesting data to sell?“

Sure.

There’s a lot of money in phony net worth tied to no specific person.

Y’all wire techs are sure rich

$20,000,000. 22. 79

" @ 1.7 M between wife and I at 55 years old. Not bad, but should be more. Did some d-mb things with money in 20s and 30’s.
At least my house is paid off and I have no other debt. Was also able to get 2 kids through college with no debt."

Why would I lie about that? ^^^

I stated that I was d-mb and made some mistakes. My retirement should be double that amount.

That said, I think there are some jealous people here that have saved ZERO, ZILCH, NADA and this post is triggering for them.

Harvesting data to sell?

64 with 1.4m in 401k. Lump sum as of now $685k, if interest rates go down this a slight increase by November. My luck interest rates will drop but not until December so i wont be able to capitalize. At 65 we are required to retire if we leave via layoff or retire and must either take an annuity or lump sum the 1st of following month.

“Do you not own any responsibility for the situation you now find yourself in.”

Best question asked on this board in while.

Age 51
Spouse 47

401K 1.4 M
Spouse 401K. 1.0M

Roth IRA 350K
Pension 100K

529 150K

Cash 150K

Real estate 2.6M

Liability. -800K

As soon as the house is paid off and 59 peace out AT&T

@cy it pays to stink

I got a condo, $250K retirement, $100K cash, a cheap weed supply, two chics that will double up on me anytime for some good weed and blow. Get some ideas from the Phub and call them up to party. ATT women were never like that. Lot's of unkept trim there from what I experienced. ATT was definitely not the place to find wild game. Lots of cold fish which made the workplace dull. EVer notice most of the executives could have used a bottle of booze, a weekend bender, and waking up in a gutter somehwere once in a while?

I'm currently a 1st level at DLLSTXRIDSx and my spouse and I have
a. A fully paid house in N. Dallas
b. $4m is 401 money
c. No pension
d. Approx. $12M stashed in Gold, bullion, Fidelity, ML and Schwab.

A stock pile of chicken feed…55 & never.

61 here, $1.2 million in my 401k, $320k in my pension. Beside that I make $2,000-3,000 per month in my low cost, high yield biz which is mobile detailing.

Planning on retiring at 65 hopefully.

@OP $1.1M in pension and $1.4M in 401K. Take the Lump Sum if you get the chance.

@cd $30M is a lot.

"You think anyone will actually tell the truth here?"

I did

What the F is actually the point of this post? So stupid. You think anyone will actually tell the truth here? Even if they did what does that do for you?

I’m 60. NW is $142M. I have a healthy salary of $30M/yr from the company plus bonus and stock options. I stick around because I like the power. Within 2-3 years I’ll be retired and a 10 handicap.