I only know of a few people who retired early. Average senority in my plant was 39 years a couple years ago. Average age about 60. We had some guys that had 50+ years. I retired with 30 years, @ 53. I would have liked to work until 59 or so, but my plant was closing. You cannot always choose your retirement date!! I think the biggest hit was the medical benefits. Pensions are controlled by the government, and are pretty predictable as to how much they will cost. The hourly pension fund had so much money in it, that it was considered overfunded, and GM did not have contribute to it, some years. The pension fund had enough money to fund the latest buyouts, the money came thru Fidelity, that's who manages GM pensions. Medical costs are not real predictable, and have been going up much faster than inflation. This health care thing is a monster that is consuming jobs in this country. One thing I read is that you will likely consume 80% of your lifetime healthcare expenses in the last 4 months of your life. I know my grandmother had to argue with the hospital about them wanting to hook my 91 year old grandfather up when he was dying. He was dying of alszheimers, but they wanted that bed filled.
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Today's Featured Article - The Revival of a John Deere Combine - by The Red, John Fritz. For several years I had been driving by a farm house on the west side of Indianapolis that had a John Deere combine parked in high weeds in a lot behind the house. The gentleman no longer farmed because the entire area was developed with housing and light industry. I had stopped several times and knocked on the door but no one would answer. My curiosity was up and I wanted to contact the owner. I wanted to see what he planned to do with the combine.
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