When I read this I almost fell off the chair.
The crux of the story is that these General Motors retiree's (The one's featured here are 63 years old) are struggling with the decision to take a lump sum pension check from the company for $818,000 or continue with the HOPE that they will get a regular pension check of $4800 bucks per month FOR THE REST OF THEIR LIVES!
"NOVI, Mich. — For weeks, John and Kathy Matthews have agonized over the choice: accept $818,000 in a lump sum from General Motors to buy out Mr. Matthews’s pension or keep collecting a check of $4,854 a month.
John Matthews, center, talking with fellow retirees, said he was considering taking the buyout in part because it might allow him to give his children a larger inheritance. They have consulted nearly a dozen financial advisers, spent countless hours on the Internet, discussed scores of possible outcomes, and lost a ton of sleep. And with the deadline to decide on Friday, they still don’t know what they will do."
ARE YOU KIDDING ME?
They HONESTLY think that monthly check will still be coming if they survive twenty years from now?
My question is HOW out to lunch do you have to be living today in Michigan after what has happened over the last twenty years and actually STRUGGLING on whether you should take that check TODAY?
HELLO???? Are you F'n INSANE?????
If you can read, please read our words... TAKE THE MONEY NOW AND RUN AS FAST AS YOU CAN!!!!!
Chime in with YOUR thoughts...Are these people NUTS for even THINKING whether to take the check or keep taking monthly payments of $4800?
Honestly, I'm just amazed how out of touch people are with reality.