Just curious. Right now I make pretty OK money for what I do, but the silver lining is that we are guaranteed a pension if we work for 20 years, plus the employer matches up to 4% of what we put into a retirement fund. I estimated how much I'd get from a pension when I retired, and I'd estimate that I would probably get about $2800-3500 per mo. if I stuck around for 20+ years. On top of that I'd have what I contributed to the retirement fund, plus social security. With my wife's contributions from her employment retirement account, we might be able to retire with a monthly income of $7000-10000+ per month once we get the pension, social security and combined retirement funds, and funds from the sale of our home (of course I know cynics will say SS won't exist, but I still think my estimates are low for how much we would be able to live off of).
My job is VERY stable compared to the private sector. I could make double what I make right now by going in the private sector, however, I'd forfeit the pension and other great benefits we currently have. Like I said, I make pretty good money now, but I could make outstanding money going private, with higher risk for layoff and no pension. My question is for people who've sacrificed income for pension. Was it worth it in the end? Would you take a $30, 40, 50k per year pay cut to get that pension and more job stability?
Submitted August 11, 2018 at 11:08PM by SexyHexoses https://ift.tt/2OuM1Qi
