No. of Recommendations: 1
While my 401k isn't set it stone either, at least I can calcuate today what my balance is, and apply an estimated growth rate to that balance. With her pension plan, there are a great many more variables, many of which are hard to estimate with any accuracy.

Part of the issue when teacher versus private sector is compared is the "tenure"/job security issue. A lot of people in the private sector today have faced at least one layoff - some even more.

I have a friend who just completed her MBA - so in the other person's post about "advanced degrees mean higher salaries" one would think she would be making more money. Well for the past few years she's been working for a consulting/staffing company and the client position she was placed at was eliminated last month. Lucky they were able to find another for her, but it was at a lower rate so she had to take a steep paycut in order to not be laid off. I know she's already been through 1 layoff 10+ years ago, as we both worked for the same telecom and both got laid off at different points during multiple rounds of downsizing.

I don't know what happens with tenured teachers if there's a school closing in their area (does the system have to place the teacher someplace else?). But nowadays in the private sector it's normal for people to face at least 1 layoff where a career has ups and downs salary/position wise instead of a steady upward slope. And if you face multiple layoffs that can really hit someone's e-fund where they might be forced to tap retirement savings for living expenses. I just think people in professions with job security don't realize how job insecure most employees are nowadays.
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