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<blockquote data-quote="greybeard" data-source="post: 1045365" data-attributes="member: 18945"><p>1. $250,000 is't enough to retire on unless augmented by SS benefits. A quality new truck will run about $40,000--that's about 1/6 of that nest egg gone all in a single minute. Even with good medical insurance, a single serious condition can cost thousands in out-of-pocket deductibles. </p><p>2. "Guaranteed Pension" isn't what it used to be. All that means, is the company guarantees you qualify for it--it has to also be fully funded by that company at the time of your retirement. Unless that pension fund is also guaranteed by a 3rd party, being vested means nothing. Even SS isn't fully funded--today's retirees SS is funded by today's workforce--not by the money today's retirees paid in during their working life.</p><p></p><p>3. Even if your company has a pension program, it is wise to do your own investing as well. Yes, it is risky, but few companies let their pension funds sit idle--they too invest those funds.</p></blockquote><p></p>
[QUOTE="greybeard, post: 1045365, member: 18945"] 1. $250,000 is't enough to retire on unless augmented by SS benefits. A quality new truck will run about $40,000--that's about 1/6 of that nest egg gone all in a single minute. Even with good medical insurance, a single serious condition can cost thousands in out-of-pocket deductibles. 2. "Guaranteed Pension" isn't what it used to be. All that means, is the company guarantees you qualify for it--it has to also be fully funded by that company at the time of your retirement. Unless that pension fund is also guaranteed by a 3rd party, being vested means nothing. Even SS isn't fully funded--today's retirees SS is funded by today's workforce--not by the money today's retirees paid in during their working life. 3. Even if your company has a pension program, it is wise to do your own investing as well. Yes, it is risky, but few companies let their pension funds sit idle--they too invest those funds. [/QUOTE]
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