How long until you get a pension?
Discussion in 'Questions From New Drivers' started by zoekatya, Oct 23, 2015.
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sdpetheram, truckon, Highway Sailor and 2 others Thank this.
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truckon, drdesl and slim shady Thank this.
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Something else to think about is that without a sound currency a pension means absolutely nothing because when a loaf of bread costs $1,000 what good is that pension going to do for you?
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sdpetheram Thanks this.
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Try to latch onto a guaranteed trust fund type pension that is a "defined benefit" as opposed to "defined contribution" plan. I was just reading about a Teamsters pension trust getting ready to cut pension checks in half for retirees because the fund is in peril of going bankrupt in 15 years.
The problem starts when you have 3 union retirees drawing pension money each month and only have 1 current union member contributing to the fund, more money is going out than coming in. So if 3 guys are drawing $2500 a month pensions and 1 guy is contributing $15,000 a year-- there's a problem.
Basically if you want to have a solid retirement it is going to come down to self directing your own funds along your career way to do that. IRA's Solo 401k's Annuities Money Market Accounts and even Certificates of Deposit.
My truck is all beat up and dirty but my retirement accounts are flush and pretty.Last edited: Oct 24, 2015
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