I have a pension now. Well technically, I am not vested in my employer's pension plan yet. However I have so much built up vacation time and sick time that can be used towards pension calculations, that if I had to leave for some strange reason today (not bloody likely), I could just get in over the five year requirement for the plan.
I wouldn't get all that much in 20 years (10% of today's salary, which would be worth perhaps half or less of today's money then), but still, it's a start. Add that to SS (whatever that is worth then), and my retirement savings & investments (currently around $150K), and I think it just might work out.
My plan (as of a year and a half ago) is looking like it might happen. I want to hit 50 (4.5 years now) with $250K in retirement accounts & investments (I think I can make this number), my house paid off (should happen when I'm 49), and my pension will be worth 18% of my salary. At that point I won't be financially independent, but with no debt I won't even worry about major bills any more.
OK, maybe I'm bragging, but I worked for this. It wasn't easy.
I’ve hit a milestone. (Yes, its a good one!)
June 4th, 2008 at 08:53 pm
June 5th, 2008 at 02:26 am 1212632811
July 14th, 2008 at 08:38 pm 1216067915
Thanks