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In effect for those with decent pensions , the paycheck never ended ...they would be in a different category then those who have to take a pile of money and create their own pensionized income that stands a good chance of lasting as long as they do in good and bad years
My exact point. We do exist and there are many of us. It is also part of the reason why 90k in fixed annual income wouldn’t be enough to fund our long term goals and objectives.
In effect for those with decent pensions , the paycheck never ended ...they would be in a different category then those who have to take a pile of money and create their own pensionized income that stands a good chance of lasting as long as they do in good and bad years
Even if I didn't have a pension I would still have a paid off house.
I treated my "house equity/mortgage" as a separate investment vehicle and built up equity over the years. Each home purchase had more put down (from previous sale) along with a smaller mortgage.
Always stayed within the 2x salary-home price range and bought cosmetic fixers for under market value and sold them for market or above market. Not a flipper though because we did live in them for 10+ years plus making sure we were in good school districts.
Long term investment strategies is not limited to the stock market.
If I had a house I would have paid it off on schedule not channeling more in then I had to at these rates ..so if the house was paid off it was paid off ... on the other hand I would prefer not to pay cash at these low rates if I’d was to buy something at this point ....
So for some people,
Investing means the stock market.
The stock market is too risky and this is a bad time to put money in.
Other people don't invest and some of them are smart. I read it in a magazine.
If you have a pension, then that is enough and there is no reason to want more.
So for some people,
Investing means the stock market.
The stock market is too risky and this is a bad time to put money in.
Other people don't invest and some of them are smart. I read it in a magazine.
If you have a pension, then that is enough and there is no reason to want more.
Noooooo. Having a pension is just one leg. Investments are of major importance to many of us. Bigly important.
It must be big pension, tiny pensions like mine are just not enough.
It is all relative but we gave no complaints. Remember there are two of us. Also one house is paid for and the other has a not large mortgage. Cars for now paid off and no other debt.
It is all relative but we gave no complaints. Remember there are two of us. Also one house is paid for and the other has a not large mortgage. Cars for now paid off and no other debt.
I’m comparing mine to my brother’s, he stayed there 25 years and already taking his pension, I believe he gets $5000 a month, that’s like $60,000 a year. I get about $12,000 a year. I was offered the job with his company, but I turned it down years ago. But comparing to my sister’s I came out ahead, she gets like $500 a month at 65, so about $6,000 a year.
my wife gets 19k in pension , but living nyc that represents 13% of our total budget we can spend if we wanted to
One of the nice things for us is we get four checks a month on three different days
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