I’ll prolly die before I get to enjoy life like that
Is what it is
Is what it is
FIRE (Financially Independent Retire Early)
- Thread starter 03cobra#2
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I'm only a week away too brother.
Just need to win the lotto first
Just need to win the lotto first
Corporate USA and it's bs pissed me off, at the same time dumped all I had into AMD@9 on up. Later bought some TSLA way back before the splits. 120? Quit working 5 years ago and almost never bored.
FIRE is the way.
FIRE is the way.
Holy F, you were a cop that retired at 49 and have that list of toys?
And also get medical care and pension til you die?
Similar here. I will be retiring at 53 (6 years from now) with a full State pension and health care. My pension will be 80% of my current salary, and I will no longer have to pay into the pension system, so more like 90%.
No 401k can come close to a good pension.
Join HudsonFalcon and work for CSX
Lmao. That is why pensions are insolvent without onerous taxation.
Maybe, but I'm not going to lose any sleep over it.
Anyone can choose to work in the public sector and have a pension.
In three years, we will have three pensions, two SS, Medicare and two 401K's that we will only need for emergencies.
My work is not hard, my current salary is all mine for whatever I want. I have had a plan in place for years and it seems to be working out with built in safeguards for the economy ups and downs.
My work is not hard, my current salary is all mine for whatever I want. I have had a plan in place for years and it seems to be working out with built in safeguards for the economy ups and downs.
I wouldn't either. You deserve everything that was promised, and what I said is still true.
Corporate pensions are almost non-existent now for new hires.
Many state pensions have had their money poorly managed by financial "experts" over the years. And many state pensions have changed age, benefit amounts and time in service requirements over the past several years as well.
Railroad pension is supposedly pretty bad ass.
My FIL retired after several years in management (effectively two pensions) and my MIL saw the first couple checks and thought they were mistakes…
I’m done at 60 if I live that long. Live off the pension and play with the 401ks that my wife and I have.
My Grandfather retired at 45 years ago on a railroad pension. Had a new car every couple years so yea must be good.
Along with those, we've also had to up our contribution % a few times. Fortunately, I have been grandfathered in due to how long I have been here.
New State workers don't have the nearly the same pension as us old guys.
I don't believe railroad pensions are subject to state tax either.
Corporate pensions are non existent because it is a ponzi in the long term that doesn't work.
How many have actually changed this? Many have not. Nor will they. Bottom line is they promised too much and people started living longer. They f-ed up and will continue to do so, so why keep doing it? Real simple and should be outlawed for new hires imo. It is really as indefensible as having public union negotiating without psuedo adversary on the other side. Major reason why most big cities are shitholes.
Mine was entirely funded by my employer. So whenever the pension plan required a higher contribution rate(which rarely happened) my employer and my union would negotiate how that would be paid. Sometimes our pay was deducted by a nominal amount or my employer would just pay it out of their pocket.
That sounds like how my Dad's was (minus the union) until they blew it up and rolled the $ into a 401K for everyone. The problem is that it seems difficult for the pension peeps to determine contributions necessary for the future. Covid probably helped these plans. Lol - ok that is not really funny.
A previous Republican governor and state legislature here in Wisconsin made all state employees contribute a few more % points of their salaries to their pensions and healthcare and the savings were passed down with a reduction in income tax. Whoa did public employees freak out badly.
The legislation also allowed municipalities to require their employees to do the same, some took advantage and some didn't.
Unfortunately, police and firefighters were exempted from the legislation. Not that I am anti-police or firefighters, I'm just anti-tax.
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My pension plan has changed considerably. You used to get 90% of your pay in retirement and now it is 75%. You used to work 30 years and qualify for full pension, now you must work 33 years. You used to be able to buy service credit years, now you can't. Many states have raised how many years you have to work in order to get a pension of some kind. Where once you could work 5 years and then qualify for a benefit now they've raised it to 10.
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