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 fixed3.78%3.79%
15 yr fixed2.98%2.93%
5/1 ARM3.06%2.99%
30 yr refi3.85%3.85%
15 yr refi3.05%3.00%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
More Galleries
7 quirky luxury products for the super rich Take a look at some of the most unusual luxury products being marketed to the top 1% in Monaco, including a rotating sunbed, hand-made wooden skis and fur coats for dogs. More
Five things to know about Putin's Russia An economic crisis, Western sanctions and a comeback currency: What's going on in Russia? More
9 up-and-coming collectible cars They're relatively cheap now but these models have already caught collectors' eyes and are expected to increase in value in years to come More

Special Offer