Tuesday, January 18, 2011

A penny saved

Leonard McCracken is a 107 year old man who never made more than $10,000 a year, yet he pays all his bills and doesn't even have a pension.

McCracken, who lives in Florida, has been living in retirement since about 1969, when he left a position as a salesman with a now-defunct steel company in Ohio. Since then, he's been living on savings, Social Security and a lifetime annuity that he purchased before he retired. He has never had a pension. At 107, after living in retirement for 41 years, he's still paying the bills and getting by on his own resources.

"Dad never made more than $10,000 a year in his life," says his son Bob, a 73-year-old retired GE aircraft engineer.

McCracken's Social Security number is 6. He reportedly was a busboy at the Last Supper. You want more? I've got a million of them. Seriously, I'm happy for the man, but I hope I die before I get that old...

view-of-retirement-at-107: Personal Finance News from Yahoo! Finance


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