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[quote=Anonymous][quote=Anonymous]How do you (if at all) value a pension when calculating your retirement assets? Also, do you factor in social security?[/quote]
How much is the pension? I wouldn't call it an asset, but rather cash flow. Does someone get to keep it after you die? Do they get to collect the same sum til they die? Is there a lump sum offered ? Is the left over paid out to the family?
I get 10%+ returns a year. For me, $50k pension would be like I have $500k paying 10% dividends and never running out. Thanks to that pension, I don't have to touch my $500k growing in the market. I file as HH for years to come and there are really not taxes to be paid on such small sums. 
I factor in SS, but only because I paid in so little- $21k as of right now. The total number may end up being $30k max, but I doubt it.
My SS payments at 62 will be about $830 a month. I doubt they will cut that as there's nothing to cut. If I live til 92, I will get 10X my money back tied to COLA.
We are collecting survivor's benefits right now. They are $2460 a month tied to cola. Again, I calculated it as 10%. It's tax free, but so will be most of my retirement money as it's in several Roths. The amount needed to investment account will not trigger significant tax expense.
My returns are much higher than 10% (100%+ last two years as I figured out how it's done), but let's keep it simple.
If you have an investment in the market growing 30% a year and you don't have to touch it for years to come because of your pension, your pension is worth a lot more to you. If you spend less than your pension, you are worth a lot to your family and they will keep you around. Unless you talk too much.
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