Telly
Thinks s/he gets paid by the post
- Joined
- Feb 22, 2003
- Messages
- 2,395
I do not count a pension as net worth. I count it as an income stream that negates some expenses. Why not count a pension as NW? I figure since I don't own nor control the underlying assets the pension is based on, I just receive a guaranteed for life income from it, therefore it's income.
Income can be used to FIRE as well as sufficient NW
Future safety of pensions - Corporate pensions are guaranteed by the PBGC. Unless you are a high dollar person like a United Airlines pilot with a big $$ pension, you may well be under the PBGC-taken-over max payout. Many UA pilots got dinged some when UA filed for bankruptcy years ago, as they were over the max PBGC dollar guaranty. I don't remember hearing anyone else getting dinged if the PBGC needed to take over. Maybe it just didn't make the news or I missed it. Dunno.
Income can be used to FIRE as well as sufficient NW
Future safety of pensions - Corporate pensions are guaranteed by the PBGC. Unless you are a high dollar person like a United Airlines pilot with a big $$ pension, you may well be under the PBGC-taken-over max payout. Many UA pilots got dinged some when UA filed for bankruptcy years ago, as they were over the max PBGC dollar guaranty. I don't remember hearing anyone else getting dinged if the PBGC needed to take over. Maybe it just didn't make the news or I missed it. Dunno.
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