Pension plans...

[glen]

If mine pays as its written I’m very happy with my investment. I’ll retire in a few years and not scared at all with what my salary will be. I’ll get term life for 10 years

[Atfulldraw]

If mine pays as its written I’m very happy with my investment. I’ll retire in a few years and not scared at all with what my salary will be. I’ll get term life for 10 years

I'm sure yours will be fine.

I'll warn the fish that you're coming.

[TKK]

or you get divorced, or your pension doesn't have rights of survivorship (single life benefit), or.....any number of things.

You want the company that couldn't manage it in the first place to keep managing it, and think you can count on them ?

I'll take the uneducated insult since I'm not really the spending type, but you simply can't count on other people or a company to take care of you.

In any pension plan I have ever seen YOU pick the rights of survivorship on a pension - not the company -

So let me ask you again - you would turn down a $100,000 annual income for you and your spouses lifetime that would cost you over 2 million to duplicate with cash for a lump sum of $500,000? That is a short sided as you can get

I know exactly how much my companies pension plan is funded with and it is solid - and believe me it is not an uneducated decision - but you take that cash. The insurance company you work for must not be much fun to work for if you call them idiots.

For me I will keep taking my $100k a year for as long as my wife and I live -

[Burnadell]

If mine pays as its written I’m very happy with my investment. I’ll retire in a few years and not scared at all with what my salary will be. I’ll get term life for 10 years

Get a 20 or 25 year term.

[thegrouse]

If mine pays as its written I’m very happy with my investment. I’ll retire in a few years and not scared at all with what my salary will be. I’ll get term life for 10 years

I am in the same boat but if the state starts changing pensions it will effect us in retirement. I will take as much DROP out as possible

[friscopaint]

within 5 yrs I don't see any new hires being offered a pension here in Ft. Worth.....

[Burnadell]

In any pension plan I have ever seen YOU pick the rights of survivorship on a pension - not the company -

So let me ask you again - you would turn down a $100,000 annual income for you and your spouses lifetime that would cost you over 2 million to duplicate with cash for a lump sum of $500,000? That is a short sided as you can get

I know exactly how much my companies pension plan is funded with and it is solid - and believe me it is not an uneducated decision - but you take that cash. The insurance company you work for must not be much fun to work for if you call them idiots.

For me I will keep taking my $100k a year for as long as my wife and I live -

You are correct.

He has never had any experience with pension plans, but he offers a lot of advice on them...and other areas that he has had no experience in.

[TKK]

Get a 20 or 25 year term.

yep nothing wrong with that for back up - you can take a single life only pension choice which gives you even more income and if you die first let the term replace the pension for you wife - solid advice

[Atfulldraw]

In any pension plan I have ever seen YOU pick the rights of survivorship on a pension - not the company -

So let me ask you again - you would turn down a $100,000 annual income for you and your spouses lifetime that would cost you over 2 million to duplicate with cash for a lump sum of $500,000? That is a short sided as you can get

I know exactly how much my companies pension plan is funded with and it is solid - and believe me it is not an uneducated decision - but you take that cash. The insurance company you work for must not be much fun to work for if you call them idiots.

For me I will keep taking my $100k a year for as long as my wife and I live -

I'm sure you meant short sighted.... but aside from that, yes, I'd have to look at the numbers to make a decision.

But in general, I prefer to be in control of my own investments, I know how good my track record is.

We were talking about when a company promises a pension and then drops out of the game.

Who I work for (myself) has very little to do with whether or not you can rely on a company that has a track record of reneging on their promises.

[Atfulldraw]

You are correct.

He has never had any experience with pension plans, but he offers a lot of advice on them...and other areas that he has had no experience in.

tell me more about how I've never had any experience with a pension plan....

and then you can tell us what single life benefit means.

[TKK]

You are correct.

He has never had any experience with pension plans, but he offers a lot of advice on them...and other areas that he has had no experience in.

Agree - as I stated before - clueless.

The worst advice you can get is from someone who knows just enough to give bad advice.

[Burnadell]

I'm sure you meant short sighted.... but aside from that, yes, I'd have to look at the numbers to make a decision.

But in general, I prefer to be in control of my own investments, I know how good my track record is.

We were talking about when a company promises a pension and then drops out of the game.

Who I work for (myself) has very little to do with whether or not you can rely on a company that has a track record of reneging on their promises.

So, what are you invested in?

[TKK]

tell me more about how I've never had any experience with a pension plan....

and then you can tell us what single life benefit means.

Let me ask you - name the different pension options available? Single life means the recipient gets the payment for their lifetime only - at their death it ends.

Please name for us all of the other pension options? There are many. If you do not know them I will be happy to outline them for you. I do this for a living.

[Atfulldraw]

Agree - as I stated before - clueless.

The worst advice you can get is from someone who knows just enough to give bad advice.

Not that I care one whit about your opinion.....

but you offer advice based on made up numbers and an option that offers no benefits to your heirs. It's not the best advice for everyone's situation.

I get my advice from folks that have made plenty of great decisions for a wide variety of successful investors and have the assets to back it up.

Not sure why you got your panties all wadded up simply because you made a different decision for YOUR family, but it is what it is.

[glen]

Like I said before my pension is my best benefit I have. I don’t make any a lot of money but if I left tomorrow I would make 76% of my base salary for rest of my life. If I work another 5 years I’ll make more retired than working. For some my pension would not be enough because my salary is not near what you make but it will do me just fine