I am vested in Illinois pension system and am considering a job now with much higher salary. Another 4 yrs at anticipated salary would provide 64350 at 60 and 45000 at 55. There is a 3% annual compounded raise to pension. I am around 50 now.
Would it be appropriate to think about yearly annuity in term of portfolio needed to provide this cash flow?
So 45000 at 55 would mean needing a portfolio of 1,126,000 (45000 x 25 per 4% rule)?
So my offered salary would be :
Say 325k plus 1,126,000 /4 yrs of service or about 606k per year if I worked for 4 yrs to earn this cash flow?
Would it be appropriate to think about yearly annuity in term of portfolio needed to provide this cash flow?
So 45000 at 55 would mean needing a portfolio of 1,126,000 (45000 x 25 per 4% rule)?
So my offered salary would be :
Say 325k plus 1,126,000 /4 yrs of service or about 606k per year if I worked for 4 yrs to earn this cash flow?
Statistics: Posted by am — Tue Aug 06, 2024 11:08 am — Replies 0 — Views 28