It's a good exercise to think through all this, OP, but the fact remains the pension isn't yet a sure thing, right?

NP. I did a spreadsheet to figure out how long I need to work/what my pension is likely to be based on small COLA/raises over the next 15-20 years. If I retire at 65, my pension will be $90,000 per year, my TSP will be over a million just counting contributions from now on as cash, and I'll probably have at least another million in other market funds. I'll start earning 5 weeks of vacation per year next year. I *could* go private, but... why? work-life balance is great. I have union protections. I'm not going to get downsized and spend years potentially futilely looking for a commensurate job.

Yes, my mother has drawn her pension longer than she had worked.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:To make 100k/year in retirement income you’ll need about $2.5 million. This is very easy to get by age 60 if you invest at an early age. Plus pensions can’t be passed down to your kids.

This is SOOO OUT OF TOUCH.

It’s easy, just start saving $2k/month in an account earning 8%. My grandfather did that.

You’re so out of touch with the average worker in America.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:To make 100k/year in retirement income you’ll need about $2.5 million. This is very easy to get by age 60 if you invest at an early age. Plus pensions can’t be passed down to your kids.

This is SOOO OUT OF TOUCH.

It’s easy, just start saving $2k/month in an account earning 8%. My grandfather did that.

Good for him. That takes 29 years. $2k/month exceeded my total income until I was 30, and so $2.5M is out of reach. I’m a successful STEM professional so no laggard. “Easy” is easy to say if you have a high income early, and lots of us don’t.

Anonymous wrote:

Anonymous wrote:To make 100k/year in retirement income you’ll need about $2.5 million. This is very easy to get by age 60 if you invest at an early age. Plus pensions can’t be passed down to your kids.

This is SOOO OUT OF TOUCH.

It’s easy, just start saving $2k/month in an account earning 8%. My grandfather did that.

Anonymous wrote:To make 100k/year in retirement income you’ll need about $2.5 million. This is very easy to get by age 60 if you invest at an early age. Plus pensions can’t be passed down to your kids.

This is SOOO OUT OF TOUCH.

Anonymous wrote:To make 100k/year in retirement income you’ll need about $2.5 million. This is very easy to get by age 60 if you invest at an early age. Plus pensions can’t be passed down to your kids.

Bingo. However, you can invest excess money from pension plan payments in retirement.

To make 100k/year in retirement income you’ll need about $2.5 million. This is very easy to get by age 60 if you invest at an early age. Plus pensions can’t be passed down to your kids.

Anonymous wrote:

Anonymous wrote:At 65 my 401k will be two million. In private

Will be?

It is currently $1,890,000 and I retire in 5 years. So pretty sure will be two million. My wife will be at one million.

If I hold off to 72 to do RMDs might be at 4 million combined.

Anonymous wrote:

Anonymous wrote:

OP here. Pension plan, provided I vest fully, will be 50% of my final annual salary at retirement. It will include retiree health care and I have the choice of a PPO, at $75/month and exceptional coverage. Or a HDHP, with $3200 deductible for family, fully paid by employer.

What kind of job/company has a pension that is 50% of final salary? That sounds amazing.

They currently don't even have a pension plan, but when they reinstate it they will have 50% salary??

On top of sequential 7% raises EVERY YEAR, and $10k bonus??

I’m on track for $190k this year, can expect 7% annual increases moving forward and a bonus of $5k-$10k a year.

What government is this? Do you work for Principality of Monaco or some place which just has endless cash flow??

Anonymous wrote:At 65 my 401k will be two million. In private

Will be?