Thread regarding AT&T layoffs

Started here in 2020.
Been contributing 12%+ the entire time.
High salary ($200k)
Just hit $400k assets today with the rally in NVDA, probably exiting at ~$140
Always sold T stock as soon as I passed my “vest time”.

I save ~40% or so of my income, live in a LCOL area (they’re trying to get me to relocate to Dallas), don’t drive to the office, modest house, paid off car - which is probably why I’ve been able to save so much…

We will see what happens when they want me to relocate, I have a decent bit saved, depends what job market is doing next year on if I’ll actually relocate or just lie run the clock and find something else - we will see.

Retired 3 years ago at 61 with (joint with spouse) NW of $6M. Spouse retired the next year. Both L2, not particularly highly paid. Put two kids through college and grad school before this.

We are now within spitting distance of eight figures.

It's like making a cake.

The recipe: Equal parts careful and conservative investing + buy and hold strategy (I'd rather use a junkie's needle than day-trade; it's a slower path to ruin), turn your spend control on to HIGH, and sprinkle a little luck over the whole thing. Bake 35 years. Voila, retirement cake!

Better to do it yourself, save on the fees and leave the AT&T grind behind.

I do it myself and keep working.

The Bogleheads' three fund strategy isn't rocket science. There's no need to make it any harder than it needs to be.

For you high net worth folks who posted here, there’s a rule of thumb that if your salary is 5% or less of your net worth, you should spend your time managing your money and not working.

You all probably have RIAs who charge you 1% of your AUM to manage your money and they park your money in ETFs, private equity, private credit, etc that each have an additional management fee. So a good chunk of your salary pays those fees.

Better to do it yourself, save on the fees and leave the AT&T grind behind.

40 years old, 12yrs worked..i'm one of those unfortunate ones. made terrible stock decisions/losses. about 480k saved across accts. will be aggressive in contributions and strictly on total index/international index/10% bonds- projection about 2M at 55.

401k only 1.1M at 30Y contributing 14% for probably the last 20. Wife says I was too conservative; she's probably right. But honestly, I've only changed my investment options a couple times.

L3.. Always made very good salary and put 6% in 401K until 55 when I maxed it out. Always watched my spending and invested on the side. Got nailed by the '87 market crash and a starter wife, but completely missed all subsequent crashes and went all-in near the bottoms within 10%. Now in my 60s, I've been with T for 25 years. $3M in 401K, $2M in outside brokerages, $1.1M in paid off home, $1.5M in other properties. Not too shabby. I'll work another 2-4 years and volunteer for the next wave of layoffs, so they send me on my way with a big check. Have faith. You can do it!

and there is no way to accrue $3.2 million on investments from scale 32 pay alone.

You sir are dead wrong and not very smart when it comes to investing at least.

Buy crypto, $20 million easy, probably at least $40 million.

possibly if you started at 18 years old in the 60's or 70's. if you hired in after they cut the pension in half, discontinued the stock purchase program, etc. pre 99 pension was substantial. the CWA sc--wed the late 90 and 2000 new hires.

The pension is icing on the cake. Most of us put money into our 401K and IRAs. They're completely separate from the pension.

So based on interest rates my pension lump sum will be a cool $300k-$500k on top of what I have invested in my 401K and IRAs.

im already very well off BUT it wasnt from the phone company. i owned couple of businesses to get where i am

So you have left us to believe the reason you are on here bashing people that have reached “wealthy status “ is that your “businesses “ have failed epically and that is why you still work for At&t and are jealous that people on here have made sound financial choices, correct?

WS 32 , 2.5 , retired sitting by the pool typing this. I agree with the guys who referenced poor people . They are the ones telling you it can’t be done because they have made horrible decisions through out there lives. It can be done , it does take discipline but never let the poor folks or any loser discourage you.

im already very well off BUT it wasnt from the phone company. i owned couple of businesses to get where i am. ive been a wage scale 32 for 28 years and there is no way to accrue $3.2 million on investments from scale 32 pay alone. the pension payout for someone with 30 years pre 99 was around $300k.

1. Why would I come on here and lie? No one knows me, so I assure you I am not embellishing or lying.
2. Wife stayed home till youngest was 17 then she went back to work part time.
3. We lived below our means and invested religiously, did not use a CFP or broker , 100% on my own. Read a lot of investment material from early on (Jack Bogel) was my favorite.
4. I have absolutely nothing to prove to you or anyone so don’t discourage other people by saying it cannot be done. Maybe that is why you are behind? Or was it during the down times in the market YOU chose to move your money around instead of staying the course and keep investing? I don’t have the numbers in front of me so don’t quote me but the s&p has returned 11-12 % since 1929.
5. I have never owned nor will I a single stock, all done through indexing.
6. Young people please do not listen to poor people that tell you something cannot be done , I am living proof that living a responsible conservative life will pay off. Like other people on here have said in a nut shell, don’t make stupid financial decisions ie new trucks , boats , lavish vacations etc.

Invest and stay the course .

L2 management most of my 26 years. Walked out with $1.6M lump sum and 401k and retired at 57 to get the AT&T medical in retirement. Invested 12% every year in my 401k in total stock market return 30%, small midcap 30%, and international 30%. Worked at another large company prior to AT&T and have a total net worth of $3M which includes a $1M house which is paid off. Save your money young grasshoppers!

Man I’d be poor if I only had that much.

Even if you are serious, it's no reason to be a di-k to everyone else.

Man I’d be poor if I only had that much.

"With a defeatist attitude like that , you will always be poor. Even pre 99 the pension was not “great”. You are responsible for you and as you can see other “responsible “ people on here are doing it with discipline. Save and invest , live below your means and no matter where you work or how much or little you make you will become a millionaire. I am living proof , hired on in my mid 20’s, wage scale 32 , retired last year late 50’s paid for house and total net worth 3.25 million. So don’t whine and make excuses that the union scr@wed you over. Stop buying new cars every two years , stop taking luxury vacations, plan for children’s college when they are born instead of when they are a senior in HS, Stop buying mansions and spend no more than one week a months pay for a mortgage so you can pay it off quick. Live modest and stop trying to impress people and no later than 60 you you will be very wealthy and that is a fact no matter what any poor person tells you."

im already very well off BUT it wasnt from the phone company. i owned couple of businesses to get where i am. ive been a wage scale 32 for 28 years and there is no way to accrue $3.2 million on investments from scale 32 pay alone. the pension payout for someone with 30 years pre 99 was around $300k. even then you have irs limits on what you can save and couple that with a few recessions during that time id say youre including a spouse ornother income.

Yes, in my 401k. I have been investing since 1984.

No way you can save 2 mil. No way a working man could come even close. "

Hey pal, go ahead and start eating cat food now so you can acquire the taste for it now; cause you will be eating it when you are to crippled from cigarettes and beer to not be able to work anymore and won’t have anything saved Cause “the man” had his foot on your neck you pathetic loser.

"No way you can save 2 mil. No way a working man could come even close. "

It's actually not hard. I have over 2 mill in investments as a L2. My wife was also a stay at home mom to our kids for 12 years, so we were single income family for half my career. The problem is the average american has no clue how to live within their means. Always have to out do the Jone's. Need the biggest house in the neighborhood. Have to have that $60K truck. My wife needs that new $50K SUV every five years. etc. etc.

If Americans knew how to invest as well as they know how to rack up credit debt, we'd all be millionaires.

possibly if you started at 18 years old in the 60's or 70's. if you hired in after they cut the pension in half, discontinued the stock purchase program, etc. pre 99 pension was substantial. the CWA sc--wed the late 90 and 2000 new hires.

With a defeatist attitude like that , you will always be poor. Even pre 99 the pension was not “great”. You are responsible for you and as you can see other “responsible “ people on here are doing it with discipline. Save and invest , live below your means and no matter where you work or how much or little you make you will become a millionaire. I am living proof , hired on in my mid 20’s, wage scale 32 , retired last year late 50’s paid for house and total net worth 3.25 million. So don’t whine and make excuses that the union scr@wed you over. Stop buying new cars every two years , stop taking luxury vacations, plan for children’s college when they are born instead of when they are a senior in HS, Stop buying mansions and spend no more than one week a months pay for a mortgage so you can pay it off quick. Live modest and stop trying to impress people and no later than 60 you you will be very wealthy and that is a fact no matter what any poor person tells you.

Cash $1.2M
Investments $4.2M
Property $1.5M (Free & Clear)

Expect another $800k-$1M in Pension Cash out based on Pac Bell Pension and Interest Rates/Minimum Present Value Segment Rates on Nov -24

Save early and build that emergency cash fund as well. As was said time, attention to the right mix, BALANCED TAX/TAX FREE buckets and ride it.

Started with the company when I was 25 years ago. Invested maximum amount in 401K. I have just over $2.5M in the 401K now plus a small pension amount. I am working for my kids now until I get paid to leave or tired of the BS.

match in company stock offset the gain in my investment. I found out too late that I could move the match out to a different investment. Check on HR website for details.

Yes, very possible! Start early and invest 18% of pay. Suggest Roth. You will have to prioritize savings over big vacations, new cars, and living within your means.

I don't know if home equity can be attributed to ATT.

possibly if you started at 18 years old in the 60's or 70's. if you hired in after they cut the pension in half, discontinued the stock purchase program, etc. pre 99 pension was substantial. the CWA sc--wed the late 90 and 2000 new hires.

49 years old. Saved 16% of each paycheck.

$1.3 million. Should double in 7 -10 years.

100% stock since I don't need it any time soon. Will adjust as I approach retirement age.

You can definitely hit $2M - $3M if you:

1. Start saving when you are young.
2. Save 10% - 15% of your income (including company match).
3. Invest 80/20 (stock/bonds) when you are younger and phase to 65/35 closer to retirement.

Time is your best lever.

I’m not a financial advisor so do what you think is right for you but it worked for me.

Cheers and Good Luck!

With pension, 401k and paid for house I am at 2 mill.

Stankey hit his $2 billion mark of retirement savings and $150 billion T debt.

No way you can save 2 mil. No way a working man could come even close. The system is unfair and trickle down doesn’t work ( should be called tinkled on) we need an opportunity economy where everyone has a chance to succeed, we need to build the economy from the bottom up.

I am union 36 years and yes. 2.8. 401, roth , brokerage, savings and a paid for house value roughly 450.

Easy $20M. You need to negotiate well.