S
Susan Powell
Guest
Hi there.. I am a not so super young dreamer.. 33.. I have a good job (but am at significant risk of being laid off this month). I work in IT and have never qualified for the pension. If I am laid off, it will be 3 months prior to qualifying for a pension. I have been laid off 4 times prior to qualifying for a pension. History and the experience of my friends is making me think that I likely will never qualify for a pension.
Facts
I make $90k
401k $44000
Regular IRA $28000
Taxable investments $14000
Roth $4,200
Savings $15,000
Equity in house. approx $45,000
I am thinking of investing in real estate but still researching that..
I attempt to save or pay down debt (my mortgage. I have no other debt) to the tune of 30% of my gross.
Questions
1. How do I know how much I need to retire on? Most calculators say $2.1 million. Should I go by that?
2. Do you think it makes sense to pursue a civil service job for the pension benefits?
3. And what other things can I do? I am not married. I own a house
Is there anyone else out there who is dealing with the probable no pension issue?? Should I look into annuities as I get closer to retirement to have a monthly income??
Facts
I make $90k
401k $44000
Regular IRA $28000
Taxable investments $14000
Roth $4,200
Savings $15,000
Equity in house. approx $45,000
I am thinking of investing in real estate but still researching that..
I attempt to save or pay down debt (my mortgage. I have no other debt) to the tune of 30% of my gross.
Questions
1. How do I know how much I need to retire on? Most calculators say $2.1 million. Should I go by that?
2. Do you think it makes sense to pursue a civil service job for the pension benefits?
3. And what other things can I do? I am not married. I own a house
Is there anyone else out there who is dealing with the probable no pension issue?? Should I look into annuities as I get closer to retirement to have a monthly income??