Should I Stay At My Job Just For The Pension?

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[Larry-plwq]

Pensions are rare these days, and they do offer stability, but is it really worth staying at a job

[PremSteve-ygde]

It's recommended to save at least 15% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.

[PInkW]

I’m a high school drop out.
Did 27y with the state.
Retired at 56 with $2400 take home for life. Home paid off. No debt at all.
Life is good.

[jmntherd]

Government jobs are no joke. In many government jobs, the employer contributes over 40k a year above salary towards a pension and healthcare premiums. That is coupled with extremely high long-term job security and scheduled raises. Nobody's becoming a billionaire, but if you start young and live within your means, a US government career means never having to worry much about money ever again.

[johntnguyen]

Lately, l've been reflecting on my retirement plans and questioning whether my 401(k) and IRA will ensure a secure future. Additionally, I've invested $800K in the stock market but I have experienced fluctuations and modest returns. I'm seeking an approach that matches my risk tolerance and aligns with my financial goals.

[reneperron]

Passion level at 8. Stay with the pension job.
I did and have never regretted it.

[LovesGrilling]

I only disagree with Dave on a few things. This is one of those. 50 Grand after 15 years is 1.25 million. That's not enough to retire on AND NOT WORRY.

A pension is **for life**. You don't need to worry (as much).

Take the pension.

[wickedbird]

😊😊I stayed at a government job because I went to HR to get a calculation if I stayed for 30 years. Best decision I ever made. I love my pension.

[shaddiegradyorielly]

three months away from a government pension. did my 35 years. glad I stuck it out.

[MeatballMedic]

My grandparents had three pensions, two retirement accounts, two SS checks, and VA disability. They lived one of the best life’s out of all the people I know.

[ChristopherAbelman]

These days, I've been contemplating retirement, uncertain whether my 401(k) and IRA will ensure a secure future. I've also invested $800K in the stock market, experiencing fluctuations without substantial gains.

[anne]

Keep the pension. I didn’t start my pension until I was 39. With SSecurity plus my pension I will make more than my salary (which is substantial) when I retire- until I die. Benefits are amazing.

[amason]

Stay for the pension and take an even higher paying private sector job at 51 plus the pension when you can starting collecting it.

[imveryhungry]

The private sector job is going to be a lot harder than what hes doing now for sure

[bones]

My pension is the only reason i'm still at my job.

[TheJimmy]

My pension will be 75% of my final salary for the rest of my life and 100% of it can be passed to my wife. I may not make six figures here, but that income on top of my Roth 457 means a pretty secure retirement.

[marcuswashington]

Love Dave...but hard to take advice about pensions from someone who will never need it! I retired at 50 loving life!!

[tdtfire]

Keep the pension, and medical insurance paid for is a huge benefit when you get older….

[larriveeman]

my federal pension is 71K yearly with cola, plus SS wont take until fra plus tsp/ira wouldn't trade it, wife has ss and small fed pension also, plus I still pay for health insurance at the same rate as when I was working, it can't be beat

[snowadams]

Retire in 3 yrs at age 57 with a pension from a 33 yr job. Will have Healthcare for life. Cannot wait!