... I could retire at 59 with a monthly income of about $3200 (based on my current salary)... going rate in the public sector for programmers with my skills has gone up 10-20k.I plugged some rough numbers into this website and it looks like an annuity that would pay that much for a single male would cost in the ballpark of $650+K . http://www.brkdirect.com/spia/EZQUOTE.ASPMatching the exact terms and assumptions could change the amount significantly. There is also a huge chance that you would not stay at the job until you are 59 and you could lose a significant percentage of the pension. FYI, getting laid off at 55 will reduce your pension by a lot more than most people realize. Spend some time looking into these numbers so you know just what you are getting into. You can then make a spreadsheet or find a calculator on the web to see what saving 10-20K a year would grow to in 20 years. Be sure to play with the assumptions to get several numbers.
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra