Retirement Security Rarely a Sure Thing

Regarding “Caution: Golden Years May Not Shine,” July 4:

I applaud the reporting of studies that show that many are unprepared for the growing burdens of retirement. The article refers to the “security of a lifetime pension” but did not note that a pension alone doesn’t provide security unless it pays enough to live on.

Los Angeles County’s largest employer, the county government, used to provide full pensions but has slashed them to the point where a $30,000-a-year employee, with 40 years of service, could be surprised to get only $930 a month -- i.e., poverty.

The good news is that full pensions could be restored this year.

Bruce Perelman

Past board member

Los Angeles County

Employees Retirement Assn.

North Hollywood

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The best financial planning may not always work out as anticipated. When I retired 10 years ago at age 72, I had almost 10 years in retirement money, plus a bonus of several thousand dollars.

I had consulted with a certified financial planner who helped me decide how to invest so that my money could last as long as I would. Not long after, the market took a dive and I lost at least half of it -- even though we thought these were safe investments.

Maybe I should have just used my mattress.

Betts Harley

Costa Mesa