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Explain your plan to you? No. HR can help explain your benefits.
I understand my benefits just fine, but don't understand your pointless banter. If you pay into a pension, then how are the payments to you in the future free?
I understand my benefits just fine, but don't understand your pointless banter. If you pay into a pension, then how are the payments to you in the future free?
Reread my previous post. If your employer is contributing to your pension or 401k, that's free money. Not sure why this is difficult for you to comprehend.
Reread my previous post. If your employer is contributing to your pension or 401k, that's free money. Not sure why this is difficult for you to comprehend.
It's not free if I have to pay something to get it. That's my point.
I got a free bridge for you, you just have to pay me $1000 and I'll tell you were to find it...
Well government is even worse with pensions. Illinois owes approximately 250 billion with a "b" and the Chicago pensions like Police and Fire are as little as 15-20% funded.
You simply can't trust others to invest for your retirement. That is something each individual must take ownership of which most won't.
That isn’t the case with all government pensions. Those that are contributory to social security tend to be doing better as do those with a more diversified workforce. Florida is something like 80-85% funded. Police and fire tend to do poorly because people can and typically do retire early. If you have someone who started at 24 retiring at 44 and collecting for 40 years with COLAs each year, it’s easy to have more people on the retirement rolls than people actually working. In Florida, people can either retire with 30 years or at 62, so you don’t get tons of people leaving the workforce at an extremely early age. Furthermore, the systems that contribute to social security make retiring before 62 less alluring since the retirement pay usually takes into account that you’ll also be getting social security.
Fortunately I have a ton of investment options available in my 401k so I'll take my chances over the long-haul and invest more safely as I get older.
If people choose to put it all in the stock market then that's their risk\business.
Yeah, that's pretty much the recommended route and what we're planning as well, though we are looking to diversify, too. Though I can still dream about lottery winnings or elderly far-flung rich relatives!
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