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A way to beat the 9.5 problem
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<blockquote data-quote="klein" data-source="post: 580334" data-attributes="member: 23950"><p>nevertheless, we are thankful for every dollar we get extra out of a union pension. I agree to that.</p><p>I listed our Canada Pension Plan. It's only $1400.00 after 40 yrs.</p><p>We do have people "starving" on that alone.</p><p>But, it's thier own fault, they could have set a few dollars away into a 401K every week or month.</p><p>We get told to do so. We can't reley on Goverment to take full care of us into retirement. That will never happen.</p><p>It's very generous as it is (max payment $1000 per year) x 40 years =$40K. Now divide that by $1400 = 28.5 months. Less then 2 and a half years, you got all you money back, and it still keeps comming.</p><p> </p><p>Just out of curiosity, you do get SSI on top of that, too right ?</p></blockquote><p></p>
[QUOTE="klein, post: 580334, member: 23950"] nevertheless, we are thankful for every dollar we get extra out of a union pension. I agree to that. I listed our Canada Pension Plan. It's only $1400.00 after 40 yrs. We do have people "starving" on that alone. But, it's thier own fault, they could have set a few dollars away into a 401K every week or month. We get told to do so. We can't reley on Goverment to take full care of us into retirement. That will never happen. It's very generous as it is (max payment $1000 per year) x 40 years =$40K. Now divide that by $1400 = 28.5 months. Less then 2 and a half years, you got all you money back, and it still keeps comming. Just out of curiosity, you do get SSI on top of that, too right ? [/QUOTE]
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A way to beat the 9.5 problem
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