Should I Stay At My Job Just For The Pension?

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Title	:	Should I Stay At My Job Just For The Pension?
Lasting	:	9.10
Date of publication	:
Views	:	81 rb

Retire in 3 yrs at age 57 with a pension from a 33 yr job Will have Healthcare for life Cannot wait!
Comment from : @snowadams696

The benefits of the government job (health care costs ,vacation time, leave of absence and security) were not mentioned in this conversation
Comment from : @williamschramm2761

I’m a high school drop out brDid 27y with the state brRetired at 56 with $2400 take home for life Home paid off No debt at all brLife is good
Comment from : @PInk77W1

I feel Dave and the other guy whiffed on this one Should have asked if he would get a partial pension if he left now and asked about the gov Healthcare and benefits vs the private company
Comment from : @daphoneguy934

No, think about the time you put in and your TSP/401k aspect Grass is not greener!
Comment from : @TheRetirementTrainStraightTalk

I worked in local government in various positions (in a library, but I'm not a librarian) for 34-years I could never find a job that had comparable benefits or even pay Good insurance and a pension The pension is the difference between making it and not in my opinion, combined with SS and savings The pension increases each year and will never run out There were many times I hated the job I also stayed because I like eating and having shelter and being able to help support my wife and I was adverse to the risk of moving around I was able to retire from full-time at 60 (part-time to 62) For what I was earning, a 401k would not have been comparable in private industry
Comment from : @coppingtonfarnham7731

I'm late to the comments here but I'm a Fed employee also, there are other options to collect a US Fed pension other than at 30 years Mainly a combination of years of service and age I would check them out
Comment from : @anthonys5568

Most government jobs Also allow you to take a leave of absence for up to two years or if you quit they allow you to come back within two years, so there are definitely options
Comment from : @WigsNWineLounge

My small pension from the IBEW I can't them to pay it so beware My congressman is preparing to have them served to see who all is getting ripped off Yellow Van Lines just told there people oh well! For years we tried to get pensions payed up as they go but the courts are letting them pay later Many pensions are already in the hands of the few
Comment from : @rockingirish

Smart move stay w the pension
Comment from : @alexkano27ify

An "8"brObviously not a mailman! LOL!
Comment from : @mrsparex

Better go with that pension Your future self will thank your past self
Comment from : @CoolGuyCoolVideos

7:23 Wouldn't he have to invest all of the 50k per year though to make that kind of return in 15 years that's just silly Nobody will invest that much into a retirement plan
Comment from : @TheFlyingZulu

Stick with the pension job You don't know how the new job will turn out that pay raise might not actually be as good as it sounds
Comment from : @TheFlyingZulu

People grappling with the difficulty of meeting essential expenses often encounter this situation due to inadequate savings during their working years The decisions taken in readiness for retirement carry extensive consequences, as demonstrated within my own family dynamics Despite my wife and I having equal tenure in civil service, differing investment approaches yielded disparate results Guided by a financial advisor, We are both retired and still earn monthly from our investments
Comment from : @ajayrajesh4427

bI began my investment journey at the age of 27, primarily through hard work and dedication I am to share that my passive income exceeded $100k in a single month for the first time This success reinforces the importance of the advice mentioned earlier It is not about achieving quick wealth, but rather ensuring long-term financial prosperity/b
Comment from : @lorenzsofia4031

Horrible advice without knowing all the finer details $750,000 after taxes is $600,000 The present value of a decent pension could easily match that, or surpass it Plus, the possibility of better insurance now and in the future Probably more stability in current job too His current entire benefits package needs consideration What are the odds that he will save ALL of the increase in pay? This is America, the land of consumers More than likely, he'll increase his standard of living and save very little
Comment from : @happycampers6592

I say, ride it out and try to get your pension
Comment from : @christopherhennessey8991

my federal pension is 71K yearly with cola, plus SS wont take until fra plus tsp/ira wouldn't trade it, wife has ss and small fed pension also, plus I still pay for health insurance at the same rate as when I was working, it can't be beat
Comment from : @larriveeman

This guy will still have a pension at 60/62 from his federal job even if he swaps to a new employer It only takes 5 years to get a pension, (years of service x highest 3 years salary average x 1) So if he is making 100k now, he would still get a small 15k pension even if he jumped to higher paying job The down side would be it would not kick in until later, his years of service is low so lower pension, and he wouldn't be eligible for healthcare
Comment from : @35goingon90

If he takes the new job, his retirement income will be subject to the vagaries and volatility of the financial markets
Comment from : @ericmyers3561

This was a really nice job listening First time i see the talent provided too people on this show
Comment from : @vjiggy81

"they treat you like a commidity instead of a human being" "you act like a commodity, you get treated like a commodity" Welcome to America and the environment of capitalism
Comment from : @dayhaysuper3639

i stayed with a job and just passed my full pension age + service points While I didn't value it so much when I was younger - it's a huge benefit and I am glad I stayed The pension program in my company was phased out since 2001 and replaced with one that is marginal at best 401k HSA etc are all available, though
Comment from : @greensombrero3641

Passion level at 8 Stay with the pension jobbrI did and have never regretted it
Comment from : @reneperron6942

Pension and tsp
Comment from : @ivysapphire6944

I'm staying in my current job for that very reason It's an easy, relatively stress-free government job that I can retire from in a few years with a decent (not lucrative) monthly check
Comment from : @agoogleuser9218

😊😊I stayed at a government job because I went to HR to get a calculation if I stayed for 30 years Best decision I ever made I love my pension
Comment from : @wickedbird1538

I’m 8 years into a pension job but I am looking to leave as soon as I’m vested (15 years) instead of staying for a full career (25-36 years) I’m burnt out and am using my remaining 7 years to go back to school for a career change while utilizing my tuition reimbursement benefit
Comment from : @mwolf0259

dave one thing you forgot to mention is they were in the possition for 15 years in the federal goverment system after 5 years of service you concrete a pension just longer you stay more you get
Comment from : @giannolamichael

My grandparents had three pensions, two retirement accounts, two SS checks, and VA disability They lived one of the best life’s out of all the people I know
Comment from : @Combat_Medic

I’m 32 years old now, I’ve been working for the government since I was 22, I work for the county, our job you can retire after 30 years, so I will be 53 years old , I’m gonna crunch the number right now lol
Comment from : @chuysontest4425

Take the pension! Believe me!
Comment from : @golferpro1241

Most that I knew stayed in state service till they could retire and have their pension, and not a day longer than necessary
Comment from : @Peace-ju9us

Sounds like he just needs a promotion where he is at
Comment from : @expertonnothing6624

I draw a retirement pension for the police department awesome benefit
Comment from : @richminds7454

Be willing to put in $40k more worth of work because that’s what they’re paying you for
Comment from : @nicholaslamantia9597

This reminds me of half the guys who work at the VA and stay there just for the retirement, even though they would double their income working on the outside You never live long enough to make the retirement worth it
Comment from : @ryankiel4895

My pension is the only reason i'm still at my job
Comment from : @bones6554

Most people will spend the extra monies they earn, with pension company pays on your behave and you will forsure have it, plus health insurance the rest of your life
Comment from : @Shell2014

Absolutely stay for a DB pension 😊
Comment from : @johnnyboyvan

Easy to say he wouldn't stay when you haven't been there
Comment from : @philwilson8617

Pension!!! Pension!!!!
Comment from : @whestshirley7645

STAY FOR THE PENSION!!!!!!!!!!!
Comment from : @papabear746

The people that complain about pensions probably don't have one and are envious of those that do You can't beat the passive income and the time that you have to enjoy yourself You can't put a price on time
Comment from : @charleswhite7035

Most federal positions allow you a sabbatical Also take into consideration what the wife does What are the associated costs of the medical coverage? How much further is the commute? This is a life changing decision and the money shouldn’t be the primary focus
Comment from : @RaoulLaoyan

Grass is always greener on the other side Stay and enjoy the pension Dave has never liked pensions
Comment from : @rickm8456

I work for a county part time as an EMT which offers a pension and I’ve definitely considered dropping my full time working at a higher paying private EMS service to go there and the pension is definitely part of my considerations
Comment from : @commonsense5555

apply for different jobs with the gov but STAY!!! the pension is small but its better than nothing which is the alternative
Comment from : @hrobbins

Both these jobs sound to pay reasonably well My thought thus would be, how would you like to spend your life for the next several years?
Comment from : @Commando303X

ah pensions are another thing boomers and their greed sold out, remember when boomers sold out their country to stay in their ivory towers shame shame shame what a greedy generation
Comment from : @erikhollander2481

Every answer was 😑
Comment from : @davidmilhouscarter8198

No, you stay for the pension Worst advice I have ever heard out of his mouthIf pensions were so bad, every politician would be the first ones to give them up Pensions have all the upside You will run out of your 401k money before my pension ever runs out Im all for chasing the money but 50k a year is not worth it enough to lose a pension over
Comment from : @mrchyzy16

May Almighty God heal the Affected, Create job for the jobless , pave way for us all And make this year a Great and memorable one Amen
Comment from : @arabellamuller2461

Dave doesn’t need a pension wrong person to ask
Comment from : @23pinkpear

A pension is awesome Why not stay
Comment from : @DUNCEATRON5000

Sounds like the question every single police officer in this country asks themselves
Comment from : @SledgeHammer99

Stay with the Pension Job You will like that nice check every month w/out ever leaving your house Use Dave's principles and build wealth along the way You will not regret it I retired 11yrs ago at age 46 with a nice pension with health benefits Although, the job and people I worked with may not have been ideal at times I'm so glad I stuck it out 50yoa is not too old to do whatever it is you want to do You will own your time Can't put a price on that
Comment from : @eastcoastbiker7031

Stay federal! You can move around way easier and find a place that is new Win win
Comment from : @hockeyhalod

I stayed for the pension in a job I disliked
Comment from : @jeffholloway7974

Keep the pension I didn’t start my pension until I was 39 With SSecurity plus my pension I will make more than my salary (which is substantial) when I retire- until I die Benefits are amazing
Comment from : @anne9358

I remained in the military for the pension and no regrets
Comment from : @fortgrove3166

Benifits will matter as he ages
Comment from : @franklee7150

Keep the pension , and medical insurance paid for is a huge benefit when you get older…
Comment from : @tdtfire6251

Stay for the pension
Comment from : @rdbeaz

C’mon tommy No one wanted to “remove the money out of the conversation” This isn’t a happiness advice show It’s a money show
Comment from : @hcrystalh

Sorry, but I think they're off-target here Take the pension!!! I'm not a fan of the gov't, but you can't beat their benefits Plus, he loves the job at 80! This is a no-brainer to stay at his current job!
Comment from : @mmmichellegirl

Lol Dave so salty that corps prep for recession
Comment from : @Dan16673

no you didnt, your forgot about taxes and having to pay for your own insurance! lol he may make an extra 300k over that time, and no bet your investments work out, the pension is a way better to go!
Comment from : @ryanshaeffer103

Keep the pension job and invest 15 to 20 and you will be way better off!
Comment from : @ryanshaeffer103

I knew someone who switched and got layoff shortly after The individual couldn't go back to his old GS job because it was already filled and the replacement got almost the salary the individual left for Stated worst decision in their life
Comment from : @0mnilegacy