View Poll Results: is someone who REs with a pension less FI then someone who REs without a pension
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yes
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22 |
21.15% |
no
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82 |
78.85% |
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03-16-2009, 03:58 PM
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#41
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2008
Posts: 6,499
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Quote:
Originally Posted by Want2retire
Had I only known, I would have decided to pursue a career as a plumber. They make decent money, don't have to pay for an education, and (I think) a hardbitten plumber would probably make a lot of money as a landlord as well.
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The cost of education part is learning when and where not to put your hands.
Then learn the essentials of "righty tighty" right side up and upside down as well. Plus a few more tricks in communicating with potential customers at 3 AM. Spend 4 yrs as an apprentice then you get to take the exam for a plumber's license. Which gives you a license to make a good buck.
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03-16-2009, 05:18 PM
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#42
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2008
Posts: 12,598
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Tortoise vs. Hare
The cost of education part is learning when and where not to put your hands. Uh, oh, do I detect a Haha lure?
My view is that I'm a tortoise, and some people are hares. I took a Federal govt job where I pay the same amount into my govt pension fund, as I would have if I'd taken a job where I paid into SS (which I don't). My pay didn't go up very fast, or very high, and I was quickly passed by "hares" with high-end jobs, their own businesses, or parental largesse. But I keep nose firmly to grindstone, and eventually I will get paid a sum to live on (though not SS).
Now, the way to really play the game is to be my husband, who retired a number of years ago in the full knowledge that I would be working for years to come... (plus, in the meantime, he gets to be married to me!).
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03-16-2009, 05:23 PM
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#43
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2008
Posts: 6,499
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Quote:
A very smart man indeed.
Will leave the lure out there, never know who/what shows up?
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There must be moderation in everything, including moderation.
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03-16-2009, 06:13 PM
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#44
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Thinks s/he gets paid by the post
Join Date: Jan 2006
Posts: 1,645
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Hey, I worked hard for my reserve component pension that will start in 18 years (22 years in service). Still working hard at my civil service pension.
Pensions are just a different path to FI (I HOPE!) that some choose to take.
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03-16-2009, 08:53 PM
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#45
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Thinks s/he gets paid by the post
Join Date: Jan 2004
Posts: 1,502
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Nords posted his pension payout a few weeks back, and for what's he's getting in his early 40s, I'd coop myself up in a combo coffin/sterilization machine for 20 years 6 months at a time. Heck, with my work schedule, I sometimes don't see any hot women for 6 months at a time anyways. In short, I'd take the US government pension in my earlier 40s rather than the equivalent in financial assets at god knows when.
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03-21-2009, 10:14 AM
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#46
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Moderator Emeritus
Join Date: Dec 2002
Location: Oahu
Posts: 26,856
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Quote:
Originally Posted by BunsGettingFirm
Nords posted his pension payout a few weeks back, and for what's he's getting in his early 40s, I'd coop myself up in a combo coffin/sterilization machine for 20 years 6 months at a time. Heck, with my work schedule, I sometimes don't see any hot women for 6 months at a time anyways. In short, I'd take the US government pension in my earlier 40s rather than the equivalent in financial assets at god knows when.
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In my chosen career field, "survivor bias" has a very literal meaning... when our kid waxed enthusiastic over USNA's many fine lifestyle enhancements, I took her to Memorial Hall and showed her the names of my classmates who've been killed since taking the oath. Made her cry, although she insists it was something in her eye.
Despite what they tell you in the recruiting ads, no one should join the military for the money. No one.
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Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."
I don't spend much time here— please send a PM.
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03-21-2009, 10:30 AM
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#47
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Recycles dryer sheets
Join Date: Mar 2008
Posts: 51
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I would say that federal pensions are the most secure because the government is allowed to take on massive debt to meet its obligations. Of course the COLA protections may be altered and the real value will decrease depending on what happens to the deficit.
State pensions are another matter. Although state and federal supreme courts have ruled that those pensions cannot be unilaterally renegotiated, there is talk that some states' finances are so poor that they may be go into bankruptcy. If that is the case, it is possible that pensions could be renegotiated just like private companies. We're just seeing the tip of the iceberg now.
As a result, I think that almost all pensions do have some systematic risk behind them -- its just extremely hard to quantify. But as any GM retiree will tell you, the risk is real.
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Gryffindor
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03-21-2009, 05:37 PM
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#48
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Location: Leeward Oahu
Posts: 17,809
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Quote:
Originally Posted by Nords
In my chosen career field, "survivor bias" has a very literal meaning... when our kid waxed enthusiastic over USNA's many fine lifestyle enhancements, I took her to Memorial Hall and showed her the names of my classmates who've been killed since taking the oath. Made her cry, although she insists it was something in her eye.
Despite what they tell you in the recruiting ads, no one should join the military for the money. No one.
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Nords, I cry every time I visit the Arizona Memorial, Punchbowl cemetery or any of the Civil War memorials on the mainland. Thanks to you and the rest of the military men and women on this forum who have served their country. Thank God there continue to be folks who are motivated by the service and not the salary.
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Ko'olau's Law -
Anything which can be used can be misused. Anything which can be misused will be.
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03-23-2009, 08:25 AM
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#49
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2007
Location: Denver, Colorado
Posts: 6,256
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Quote:
Originally Posted by Koolau
Nords, I cry every time I visit the Arizona Memorial, Punchbowl cemetery or any of the Civil War memorials on the mainland.
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Me too. The Punchbowl is a sobering experience, bar none.
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"It's tough to make predictions, especially when it involves the future." ~Attributed to many
"In theory, there is no difference between theory and practice. But, in practice, there is." ~(perhaps by) Yogi Berra
"Those who have knowledge, don't predict. Those who predict, don't have knowledge."~ Lau tzu
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03-23-2009, 08:33 AM
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#50
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Oct 2005
Location: North Oregon Coast
Posts: 16,483
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Quote:
Originally Posted by Koolau
Nords, I cry every time I visit the Arizona Memorial, Punchbowl cemetery or any of the Civil War memorials on the mainland.
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One time we visited Gettysburg in early March, while there was still close to a foot of snow on the ground. It was one of the more surreal experiences I've had -- it was so peaceful, pastoral and quiet -- and knowing what happened there 130 years earlier was creating a strong feeling of cognitive dissonance.
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"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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03-23-2009, 08:40 AM
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#51
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2006
Posts: 12,483
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Quote:
Originally Posted by Nords
In my chosen career field, "survivor bias" has a very literal meaning... when our kid waxed enthusiastic over USNA's many fine lifestyle enhancements, I took her to Memorial Hall and showed her the names of my classmates who've been killed since taking the oath. Made her cry, although she insists it was something in her eye.
Despite what they tell you in the recruiting ads, no one should join the military for the money. No one.
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I believe you, 1000%. Of course, you can't blame the recruiters for showing the fun and cool stuff the military can offer, they have "numbers to hit"......
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Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
This Thread is USELESS without pics.........:)
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