Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

2 of 6
BACKNEXT
John Riley
Hometown: Philadelphia, Pa.

I worked for a large technology firm for about 10 years, but then the recession hit and a lot of our contracts dried up. I was laid off last year, and luckily, I found a job a few days later.

While the salary was the same, decreasing benefits reduced my discretionary income by about 10% to 15%. I suddenly had no 401(k) matching, a frozen pension and rising health care premiums.

One of the biggest questions my wife and I have had is, do we continue to contribute to retirement? Or do we steal from the future in order to make ends meet today?

Over the last 10 years, I've seen a lot of the tech jobs shipped overseas to India, and even Austria and Ukraine now. I think there's a definite impact on our wages here because of it.



NEXT: Gretchen Blankenship
Last updated February 18 2011: 8:13 AM ET
Overnight Avg Rate Latest Change Last Week
30 yr fixed3.85%3.83%
15 yr fixed2.97%2.96%
5/1 ARM3.13%3.11%
30 yr refi3.96%3.95%
15 yr refi3.07%3.06%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
More Galleries
Google's logos through the years Google changed its logo for the fifth time in 17 years this week. Here's what the old ones looked like. More
How much you should have saved for retirement right now Joe is 50 years old and makes $70,000 a year. He should already have $364,000 saved for retirement. Are you on track? More
The stock market's wild week in 6 pictures It was the wildest week in stocks in recent memory. Here's photos and CNNMoney's tweets of reactions to the panicked selling on Monday and Tuesday, which gave way to a mad buying scramble on Wednesday and Thursday. And then...a selloff on Friday again. More

Special Offer