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upnorth said:
You shouldn't rely on any company for your future. The pension is a non issue for most.
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Oh? So, the $14,000/year my company contributes to my pension is a non-issue? I don't know too many that would turn their back on that if given the chance.
 
upnorth said:
I'm speaking to the point that you should not rely on any entity to control your retirement, except yourself.
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You are so wright upnorth. I depended on my my pension from CSPF for 15 years and all the while I wasn't saving for retirement because I thought I had a great pension. Now I probably want get nothing from that when i do retire. I learned the hard way that pension is just a promise and promises are made to be broken.
 
hotrodd said:
You are so wright upnorth. I depended on my my pension from CSPF for 15 years and all the while I wasn't saving for retirement because I thought I had a great pension. Now I probably want get nothing from that when i do retire. I learned the hard way that pension is just a promise and promises are made to be
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hotrodd said:
You are so wright upnorth. I depended on my my pension from CSPF for 15 years and all the while I wasn't saving for retirement because I thought I had a great pension. Now I probably want get nothing from that when i do retire. I learned the hard way that pension is just a promise and promises are made to be broken.
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Going through life depending on 1 thing is setting yourself up for failure. I work with a guy who has a pension, 401, Roth and tin cans buried in his back yard full of $. If one of his retirement funds fails he still comes out on top in the end.
 
upnorth said:
I'm speaking to the point that you should not rely on any entity to control your retirement, except yourself.
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Absolutely! Thankfully, I've got three other 'irons in the fire' as far as income sources during retirement. Yeah, I could use that money for something fun like a boat, an RV or a Harley, but those 'ships' have sailed. The wife and I will be fine in retirement, and I wish the same for you.
 
Stand4afuture said:
Not sure where to post this. But since it has to do with saving plan's. I'll try here.
http://amp.usatoday.com/story/519761001/
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Wow the govt shutting down something that costing the taxpayer 70 million since 2014 and expected to cost 10 million a year to run. Here is a few quotes from it.
"About 30,000 Americans have contributed a total $34 million to the program, called myRA, which launched in late 2014 as an option for households that didn’t have access to an employer-sponsored retirement plan, such as a 401k, the Treasury Department said. About 20,000 accounts have a median balance of $500, and the owners of 10,000 accounts made no contributions."
"It has cost $70 million to manage the program — including server costs and promotion — which was likely to cost an additional $10 million annually"
 
Trucker 206 said:
Oh? So, the $14,000/year my company contributes to my pension is a non-issue? I don't know too many that would turn their back on that if given the chance.
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is that 14k set aside just for you or are they using it to pay retirees with it now in the hope they will have money for you when you retire
 
Fly-by-night said:
is that 14k set aside just for you or are they using it to pay retirees with it now in the hope they will have money for you when you retire
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$14K sounds like a lot of money until it's your only income. Well, that and maybe $24K a year from SS. Depending on how old you are, you might not have much faith in seeing any of that money.
 
highspeeds said:
$14K sounds like a lot of money until it's your only income. Well, that and maybe $24K a year from SS. Depending on how old you are, you might not have much faith in seeing any of that money.
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I'm locked in...it'll be there. I'm in the Western Conference, which is well-funded. I have 3 additional income sources (thank God!) when I retire, culminating in SS when I'm 67, or earlier should I decide to draw on it earlier. We'll be okay. Not an extravagant retirement, but comfortable.
 
Fly-by-night said:
is that 14k set aside just for you or are they using it to pay retirees with it now in the hope they will have money for you when you retire
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$14,000 is the amount paid into the pension FOR me annually. I've been in almost 25 years. Each year I work from this point will add approximately $250 to my monthly benefit. There's a bunch of options they offer as far as disbursement goes. I had no idea there were so many ways you could choose from. I've got LOTS of reading to do!
 
Trucker 206 said:
I'm locked in...it'll be there. I'm in the Western Conference, which is well-funded. I have 3 additional income sources (thank God!) when I retire, culminating in SS when I'm 67, or earlier should I decide to draw on it earlier. We'll be okay. Not an extravagant retirement, but comfortable.
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Sounds good on your pension. How confident are you in the SS being there when the time comes ?
 
highspeeds said:
Sounds good on your pension. How confident are you in the SS being there when the time comes ?
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It will be there. But there will be so many ( impossible? ) requirements that it will be nearly unobtainable. 70 years old to collect will turn into 90.
And if you have too much money in an IRA or 401k or any other retirement account you won't be eligible for Social Security.
 
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