NonDeliverOtherMissed
Well-Known Member
What's the pension at now and I guess it goes up with years with company, part time? Full time? Sorry know nothing about these things, really wish I did
What's the pension at now and I guess it goes up with years with company, part time? Full time? Sorry know nothing about these things, really wish I did
the first thing i ask a financial advisor is how much is his/her portfolio is worth and what has been there annual performance for each of the last 5 years and compare that with the s&p 500.A financial adviser who tells you to put money in a BH fund isn't doing you any favors, which means he's a typical financial adviser.
excellent post. that is almost exactly what we did. we save about a grand a month just living on our pension and havent even tapped into the 401k or other retiremnet accounts.Put your 401k into the s&p 500 account. Why? 1. lowest management fees. 2. S&P 500 accounts out perform 82% of "managed funds." Put 10% of your check away. Every year when you get a raise in August bump it up a percent until you've maxxed it out. You'll learn to live on less and you'll thank yourself when you finally punch out for the last time. No one ever said "Gee I wish I hadn't saved so much money for retirement." Go to www.firecalc.com and figure out how much you'll need to save to retire. Need $2000 a month? Sock away 625k and call it quits. Pay off your credit cards, cars, and home in that order. Never carry a balance on a card. Never take out a car loan. I made my last car payment in June 1991. I still make the payment, but it goes into my "car account." When I need some wheels, I have cash and can negotiate. Raise independent kids. At 18 they should be paying their own bills. And rent. And college. They have 40 years to pay off student loans you can only save for retirement once. And they won't help you with that so let them handle the college thing. Oh and have them move out. It'll build character.
I'm eligible to retire in 27 months 17 days. I can live comfortably on just my pension. My 401k will be fun money. Social Security, if I get it, will be more fun money. I'm not counting on it. My children are out of the house, and they know they can't come back. My house is paid off. I got a raise of $450 a week after Thanksgiving because I maxxed out my 401k contributions. I'll lose that January first but that's ok.
Spend some time at www.lenpenzo.com and www.mrmoneymustache.com for saving tips, frugal living, and ways to retire early.
Sorry to post here but how can i get my 401k papers again? i moved after i got perm and lost the one i was sent .
A friend of mine calls the 401k like we used to when rotary phones were still in vogue. I told him to set up an online account. Nope. Dinosaur.call them.
A friend of mine calls the 401k like we used to when rotary phones were still in vogue. I told him to set up an online account. Nope. Dinosaur.