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Old 11-21-2018, 12:50 PM   #51  
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Originally Posted by FoxHunter View Post
Well, if you have an A Plan you never run out of money because you get a big check every month until you die.


What about inflation? That check isnt the same 20-30 years down the road assuming you retire today. Imagine when you retire in 20 - 30 years and then 20-30 more years to live on that check.
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Old 11-21-2018, 03:19 PM   #52  
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...good thing theres also a defined contribution plan, allowing diversity of retirement income streams which helps mitigate both market risk and inflation...
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Old 11-23-2018, 07:07 PM   #53  
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From retirement seminar: 83 years
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Old 11-23-2018, 10:47 PM   #54  
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Originally Posted by BrulesRulez View Post
What about inflation? That check isnt the same 20-30 years down the road assuming you retire today. Imagine when you retire in 20 - 30 years and then 20-30 more years to live on that check.
This is certainly true. Our max pension payout is 130,000 per year till you die and that was established somewhere around 1996. Somewhere will correct me exactly what year we signed that.

To have the same purchasing power as 130,000 today that it did in 1996, wed need to be getting 210,000 now.

Id agree our 130,000 needs to be drastically upped (image a 30 year old kid hired today, hes going to retire in 2048!), id still rather have 130,000 per year to supplement my social security and 401K rather than no fixed income. Its basically supposed to be beer and food money at that point.
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Old 11-24-2018, 09:29 AM   #55  
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Skypine27 - "i’d still rather have 130,000 per year to supplement my social security and 401K rather than no fixed income."

Skypine, I agree with you, but honestly, for those of us that are more than 5-10 years away from Social Security retirement age, I'm not sure we can count on getting a full SS check. With the coming SS crisis, I would be willing to bet that Congress will be forced to either drastically raise the SS taxes (not likely), or go to a means testing for beneficiaries.
Retired folks with income over a certain amount ($100K?) will see a greatly reduced SS monthly check, or even no check of at all. Between the A Fund, B Fund, and Military Reserve retirement giving me a $200K plus/year income, I'm certainly not counting on ever seeing a SS check show up in my banking account.
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