Any financial planners out there?

[kleb]

My husband's employer is rumored to file bankruptsy by the end of next month. He's about 1 1/2 yrs. from having 30 yrs. in. He could retire now, take his pension, & look for a new job. Or, he could ride out the storm knowing he'll lose an unknown portion of his pension, & hopefully get his 30 yrs. in. I don't know that 30 yrs. & retirement will mean the same thing once bankruptsy is declared. If bankruptsy doesn't work, his employer could decide to close down completely. He's wanting to ride the storm. Any suggestions?

My other question is whether there'd be anything we could do to protect his pension prior to the bankruptsy filing?

Not having worked for a company in such dire straights, we're not sure what all we should be doing in order to prepare ourselves, if anything.

[texasgirl322]

I would take the pension & run! Living in Houston, I've seen first hand how the Enron scandal ruined lives. If his company is going under he'll go right with them if he tries to stick it out. It doesn't matter if he's been there 1 year or 50 he'll lose everything if he takes that risk. That's just my opinion & I'm certainly not a professional. You have to look out for #1 these days.