What's the number?

[Mudfoot]

Interesting fact I discovered when I retired. The cost of a small slope-side condo at Solitude was exactly the same as the cost of putting a kid through four years of a state college in Colorado, and chances are if you've got kids you will not be getting the condo.

[Bobby Stainless]

I think we can conclude this is extremely subjective to the lifestyle you live.

Single and no kids? Give me a fucking break. That's easy as fuck.

[Kevo]

I have an odd/old pension that was created move people out at age 55 and let the new blood into the company. High amount is at age 55, then it declines each year until either 65 or 67. They froze it before I had enough of a salary to make the monthly payment worth anything. I think I start at about $2k monthly if taken at 55; drops to about $1500 monthly if taken at 63.

Smart move would be to cash it out at 55 for current valuation of $400k and reinvest. If I wait to 63, it drops to about $300k. Comes back up to $400k at the 65/67 age. Makes for quite the conundrum....I want to retire at 55 and take the cash, but finding medical until Medicare would be cost prohibitive. Plus the job now pays well, so leaving that on the table would be tough.

A $24k per year pension is worth about $600k in cash value assuming a lump sum with a 4% withdrawal rate. $400k is a seriously low cash value.

You are way better off just taking the $2k per month. If you took the $400k you'd only be able to take out $16k per year ($1,333 per month). Look up the Trinity study to see info about the concept of a safe withdrawal rate.

I'd say take the $2k per month, line up another job and keep piling up a nest egg for a few more years.

[El Chupacabra]

A $24k per year pension is worth about $600k in cash value assuming a lump sum with a 4% withdrawal rate. $400k is a seriously low cash value.

You are way better off just taking the $2k per month. If you took the $400k you'd only be able to take out $16k per year ($1,333 per month). Look up the Trinity study to see info about the concept of a safe withdrawal rate.

I'd say take the $2k per month, line up another job and keep piling up a nest egg for a few more years.

Agreed 100% on this analysis -- IF the pension stays solvent.

If the company running the pension goes bankrupt, you get nothing. Iowagriz - who's the pension through?

[Danno]

Interesting fact I discovered when I retired. The cost of a small slope-side condo at Solitude was exactly the same as the cost of putting a kid through four years of a state college in Colorado, and chances are if you've got kids you will not be getting the condo.

[SkiCougar]

Yeah we got to buy cheap stocks.

or buy at the right time.

you coulda bought about anything in 2009. bottom of a recession with the fed about to pour in money; still kicking myself for not buying an inverse vix etf; might have killed myself by daily hookers and blow by now.

[Benny Profane]

I think we can conclude this is extremely subjective to the lifestyle you live.

Single and no kids? Give me a fucking break. That's easy as fuck.

Married, dual income with no kids is much easier. A lot of real estate in many places is priced to that market.

[Bobby Stainless]

Married, dual income with no kids is much easier. A lot of real estate in many places is priced to that market.

Married, two kids, one income.

Yeah. I fucked up with the whole kid thing.

[Benny Profane]

Most comfortable people I know at a certain age are DINKs who had good careers.

[dunfree]

If the company running the pension goes bankrupt, you get nothing.

If it's insured through the PBGC in the US you can calculate what your payment would be in the event of a pension plan failure. It's more than zero.

[Benny Profane]

Last I heard, up to the 50,000 a year (which is a lot, even for IBM) is protected by the PBGC. Now, this quasi corporation is deeply in the hole, so, if more corporations pile on, there could be trouble, but, that's doubtful, since there aren't too many old school pensions left to burden it. There has been some pensioners from multi employer schemes that have lost a lot in recent years, but, they aren't covered under this agency. Thank the Teamster's shenanigans and bad demographics for that problem.

Public pension benefactors aren't covered at all by the Feds, but many state laws require payment.

[XXX-er]

The IBM Canada DB pension was underfunded and down to about 91 %, the law requires the mothercorp to top it up within 5 yrs so they sent out letters telling us that would be a hardship so they were gona take 10 years if its ok with us as in we don't hear from ya ?

so who knows how many people never got the letter in any case those that did said Fuck you IBM, you are making record profits so just top it up in 5 years as the law requires, I recently got a letter saying its now pretty close to 100% so I'm not really worried

There are just over 2000 of us left and with the superiour hybrid AZN genes I might be one of the very last IBM'ers to collect in which case I will have collected more pension than salary but I check the obits in the retiree letter every quarter to make sure I'm still alive

[Stu Gotz]

Most comfortable people I know at a certain age are DINKs who had good careers.

Double income no kids was the salad days. But I wouldn't go back for anything.

[XXX-er]

wife throwing me out 22 years ago must be a close second, its also important ... to divorce well

[Benny Profane]

wife throwing me out 22 years ago must be a close second, its also important ... to divorce well

And early/young.

[Benny Profane]

The IBM Canada DB pension was underfunded and down to about 91 %, the law requires the mothercorp to top it up within 5 yrs so they sent out letters telling us that would be a hardship so they were gona take 10 years if its ok with us as in we don't hear from ya ?

so who knows how many people never got the letter in any case those that did said Fuck you IBM, you are making record profits so just top it up in 5 years as the law requires, I recently got a letter saying its now pretty close to 100% so I'm not really worried

There are just over 2000 of us left and with the superiour hybrid AZN genes I might be one of the very last IBM'ers to collect in which case I will have collected more pension than salary but I check the obits in the retiree letter every quarter to make sure I'm still alive

Sheeeit, 91% is damn good. Most pensions, public and private, especially public, are far less funded. Mine is about 80%. That's the damage of living with zero and near zero interest rates for nearly a decade.

[Stu Gotz]

Sheeeit, 91% is damn good. Most pensions, public and private, especially public, are far less funded. Mine is about 80%. That's the damage of living with zero and near zero interest rates for nearly a decade.

It's amazing how long companies were factoring 7% returns into their pension models. A former employer was at 6.5% in 2012.

[Cono Este]

Jesus, retired and still skiing 100 days a yr god bless you guys.

I’m hitting 46 in two weeks and my body is falling apart.

Money is the last of my worries.


Sent from my iPhone using TGR Forums

[Cono Este]

Dupe

[El Chupacabra]

If it's insured through the PBGC in the US you can calculate what your payment would be in the event of a pension plan failure. It's more than zero.

Good to know. I don't have a pension from anywhere, so don't follow the details.

[yeahman]

Costco's best cheese is middle of the road nothingness.

You're going to be snobbish about cheese when you drink Pilsner Urquell? That stuff is cat piss.

[4matic]

You're going to be snobbish about cheese when you drink Pilsner Urquell? That stuff is cat piss.

I do like cats..

Don’t tell me you drink “craft beer?” I admit that the taste changed after Miller built the new brewery but it still works for me.

I do buy everyday cheese from Costco and I’ve tried many others. Most are forgettable. WF has high quality selection at good prices.

If someone wants to throw out some Costco cheeses to try I’m all (cat) ears.

[Shredhead]

Jesus, retired and still skiing 100 days a yr god bless you guys.

I’m hitting 46 in two weeks and my body is falling apart.

Money is the last of my worries.


Sent from my iPhone using TGR Forums

The nice thing about skiing everyday, you don’t have to kill it, all day.

Yesterday I rode the fat bike, skied, hiked and swam. Slept like a baby last night.
I think I’ll do it again today.

[Bobby Stainless]

The nice thing about skiing everyday, you don’t have to kill it, all day.

Yesterday I rode the fat bike, skied, hiked and swam. Slept like a baby last night.
I think I’ll do it again today.

I played online poker all day, drank 11 beers, and went to Bobs and had a ribeye and fried lobster.

I didn't sleep well last night.

[iceman]

I have never heard of fried lobster, what's the story with that?