He hasnt saved for retirement and I want to know if I should head for the hills?

He is 55 yrs old and has not saved anything. He will have his railroad retirement to retire on. To top it off, he has 2 sons who are freshment in college next fall and has no money saved for that. He is working himself to death right now and I cannot figure out how he could not save for his future. I will continue to work for 20 yrs after he retires. I am wondering if this is bad financially for me to stay in a relationship with him financially speaking or should I not worry about his finances because the railroad pays such good retirement. He says his ex wife cannot collect off his retirement. Should I get out of this relationship? Is it going to cause me financial hardship in the future? I have no children at home, work full time and am saving for retirement. He is 12 yrs older than me.

Public Comments

1. I'd run. Any man that doesn't prepare financially is not the man for me.
2. I wouldn't seek marital/ relationship advice from YA. Though his retirement is more important than the children's education fund. But a pension if he's already guaranteed it... should be pretty decent. But seriously... don't ask a personal stranger if you should break up with someone that I would hope you love. But... if you have these questions... I would think over your commitment without the factor of money.
3. Do you love him ?? If you love him, help him. If you are not sure, then it is time to think about other options.
4. That railroad retirement is pretty sweet. Merry him, have him set it up as a survivor ship annuity(you collect after he dies) get life insurance on both of you, and take care of your own retirement.
5. The fact your asking this dosen't concern me about his money, it concerns me of the type of person you are. Your telling me if you found out tomorrow he really was secretly rich, you'd be in for the long haul. You shouldn't be looking for advice here, go to relationships section. On the money side, I would check with a lawyer about the retirement.
6. How will it cause you financial hardship? If you are married to him when he dies, you would be eligible for a portion, or all, of his pension. As for his kids, there are no laws that state he has to pay for his college. That would be his choice to make and sacrifice to pay. Good luck and the above answerer is correct, don't get life advice here!
7. A man who has not prepared financially for retirement (except in cases where they have been forced to endure terrible hardship and have used their savings to survive) does not respect you enough to care about your welfare. He obviously has not prepared for anything -- his sons education is a case in point. There are probably far more issues at stake than whether he has prepared for retirement, but his lack of preparedness would be a big wake up call. Has he spent all his money on himself with no plans for the future? People like that are bad news -- they tend to be exploitive of others. I know this from experience because I had a cousin who did it to my family, to the point where my father went and took the licence plates off the truck he had sold to him (and never received payment) so it was unregistered. They can be users, in more ways than one. It certainly rings warning bells for me, I'm afraid.
8. If he's going to collect a RR retirement, he has saved (but only for retirement). Look at his pay stub and see how much he pays in. Call the railroad retirement board to find out what his retirement age is and how much he'll collect. My husband's RR retirement also pays a wives retirement, check that out too. On his pay stub, if you see tier 1 and tier 2, that's how much he's putting in each pay period, 1 is his retirement and 2 is the wives retirement. (If you're married..not sure if you are-you should also check on the ex wife thing) Honestly, depending on his craft and how long he's worked, the railroad retirement is one of the best out there. Hope that helps! Good luck :)
9. I don´t know if you notice it, but you ask a lot of questions about this person, and it sounds like you have a lot of doubts about him. I think you need to ask yourself these questions-these are some I asked myself when I broke up with the last guy I dated... Does he love you more than you love him? Could you see yourself with him when you are old and need help in a nursing home-or does he help you with your heart condition? Are you happier with him, or would you be just fine without him? I broke up with a guy after my Dad, who had never said anything about my boyfriends, asked me these questions. 2 months later, I contacted another man I knew, and now we are married. You sound like a very intelligent person-are you just dating this man so you won´t have to be alone? Sometimes we´re better off alone than lonely with just someone.