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Brown Cafe UPS Forum
Life After Brown
From pension to 401k
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<blockquote data-quote="Babagounj" data-source="post: 5794850" data-attributes="member: 12952"><p>When investing moneys , just remember that your best friend is time.</p><p>Pension amounts are usually a preset amount ; years worked = a defined amount.</p><p>While 104Ks are moneys that you decide how they will grow.</p><p>Depending on your risk factors and for how long you wish to invest in order to reach a certain amount.</p><p></p><p>In my case ; pension was based on working 1800 hours/ year to achieve one year's pension credit.</p><p>Even as a p/t , I was able to do this.</p><p>Which greatly increased the amount I ended up with. { over 33 years of pension credit }</p><p></p><p>I decided that 17% for several years was a good amount to put into my 401K, I later dropped it down a bit.</p><p>I still invest in high risk funds while removing $30,000 / year for fun stuff.</p><p>My balance is still quite high and will not run out until I'm 105.</p><p></p><p>ps. I don't plan on receiving SS until age 70.</p></blockquote><p></p>
[QUOTE="Babagounj, post: 5794850, member: 12952"] When investing moneys , just remember that your best friend is time. Pension amounts are usually a preset amount ; years worked = a defined amount. While 104Ks are moneys that you decide how they will grow. Depending on your risk factors and for how long you wish to invest in order to reach a certain amount. In my case ; pension was based on working 1800 hours/ year to achieve one year's pension credit. Even as a p/t , I was able to do this. Which greatly increased the amount I ended up with. { over 33 years of pension credit } I decided that 17% for several years was a good amount to put into my 401K, I later dropped it down a bit. I still invest in high risk funds while removing $30,000 / year for fun stuff. My balance is still quite high and will not run out until I'm 105. ps. I don't plan on receiving SS until age 70. [/QUOTE]
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From pension to 401k
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