It doesn’t matter the profession, some people just can’t stay retired.
One guy who might stay gone forever isn’t famous but he’s sure as hell rich.
Randall Stephenson retired as the CEO of AT&T this week.
The 59-year-old is walking away from his high-profile job after announcing two weeks ago he’d be stepping down.
Hopefully, Stephenson can find something to do with his insane pension.
According to MarketWatch, company filings show Stephenson is hitting the old dusty trail with a ridiculous pension account worth an estimated $64 million.
This is enough, according to industry data, to give Stephenson a guaranteed income of $274,000 a month for the rest of his days.
But wait, there’s more!
Stephenson even got a $1.2 million company matching contribution to his “deferral plans” last year. He also holds at least $20 million in stock and options in the company. His total compensation for the last three years averaged $30 million a year.
Stephenson probably got a nice Zoom sendoff from his fellow AT&T coworkers. Perhaps they all shared a virtual laugh over bagels.
Maybe not, since Stephenson warned AT&T’s 250,000 worldwide employees could face layoffs due to the coronavirus crisis on his way out the door.
The ex-AT&T chairman even got a sendoff from the President of the United States. You’re never going to believe this but the President has beef with the guy.
Donnie probably wasn’t invited for Zoom bagels.
Here are a few things you should consider doing if your retirement fund isn’t looking as robust as Stephenson’s fund.