Or both Either way... starting sooner is way better than later .
The Pension/ Net Worth conversation got me to digging back and playing with numbers. Of course, these calculations would apply to someone in a similar position.
Just using my numbers. I had to put 6% into the pension system, matched by the employer. When I retired at 58, my cash-out value was $118000. With 100% survivor benefits, we would get that back in 4 years. But had I put that same money into a 401K/IRA, it would have been about $780,000. giving me close to the same money with a 4% WR.
Now playing with FC it gets interesting.
Just the portfolio gave me 80.5% success with 24 cycles failing, an average of 1.1M. Adding SS at 62, 100% with 2.4M average
With my pension and small investment savings... 100% success, but ending average of $400,000, SS at 62 bumps the average up to $1.1M.
The portfolio would route I would have doubled my average NW, but may have needed to work in retirement to cover 24 of the possible cycles.
The Pension/ Net Worth conversation got me to digging back and playing with numbers. Of course, these calculations would apply to someone in a similar position.
Just using my numbers. I had to put 6% into the pension system, matched by the employer. When I retired at 58, my cash-out value was $118000. With 100% survivor benefits, we would get that back in 4 years. But had I put that same money into a 401K/IRA, it would have been about $780,000. giving me close to the same money with a 4% WR.
Now playing with FC it gets interesting.
Just the portfolio gave me 80.5% success with 24 cycles failing, an average of 1.1M. Adding SS at 62, 100% with 2.4M average
With my pension and small investment savings... 100% success, but ending average of $400,000, SS at 62 bumps the average up to $1.1M.
The portfolio would route I would have doubled my average NW, but may have needed to work in retirement to cover 24 of the possible cycles.