From one point of view I suppose. I will say that I plan to spend MORE than I currently do- hence the "well motivated saving mode" comment. Also, the pension is not COLA, so there are some concerns as I have seen over 100% inflation in some aspects- home and Auto insurance being one.So since your needed expenses are zero (thanks to pensions and SS) then you have saved to Infinity X.I resemble this remark.In my opinion as one who saved for 30 years and never included my military cola adjusted pension in my my net worth the only reason to do so was “so one would feel good about themselves” which doesn’t necessarily motivate one to save. We did not include it or SS in our net worth and we were motivate to save a lot. Now in retirement in our 60’s we are glad we did. That’s what worked for us.
As a public school teacher in the south, with a pension subject to GPO &WEP, I actually plan as if that pension will be raided by politicians. When I hang it up in a few years, the pension should result in a cashflow of over 100% of my current (well motivated saving mode) lifestyle- meaning I hopefully will have every reason to sleep well at night with the cashflow and then over 30x in liquid assets.
Statistics: Posted by coachd50 — Wed Jun 26, 2024 12:40 am — Replies 144 — Views 23805