What SUM do you think your pension will be once you retire?

[FullyDattAndDatt3full]

Will you get over or under 1000 USD. Or over 2000 USD? Or over 3000 USD? Share with me.

[Sea flower]

I live in germany and the pension amounts are really low compared to how strong the economy of the country is and how high the salaries are. I think the average is 1.400 USD and many people have private pension plans to complement it. Many elderly struggle, really shocking.

[Jordan Miller]

Looove that we're talking about finance on Exhale. This could help so many people. 

[Haha-Hehe-Haha-Ho]

I don't have a traditional pension setup, a lot of people in the US don't either. Social security is so measly that it hardly counts as a retirement option. I'm counting on my brokerage accounts, home equity, Roth IRA's and 401k to cover me when I'm old, but these are much less about the monthly amount you'll have month to month, but the sum of the cumulative investment at the end of the day. 5k in monthly retirement income can mean vastly different things depending on where you live and what kind on ongoing expenses you're burdened with at that time, and most importantly, inflation.

Rather than think of it as a monthly thing, it's better to think of your retirement nest egg as something that can ideally cover your major fixed costs like housing, transportation, medical etc. Once the major items are accounted for, you can set yourself a reasonable monthly allowance based on what you have to work with to determine what your actual discretionary income is going to look like monthly. 

[Jordan Miller]

I need to look into this further

[sparrowhawk]

i'm a teacher in connecticut, so who knows what my pension will look like if i stay here (blue states are notoriously bad with managing their money...and their government...and everything in general) but  if things stay as they are, i'll be making 85k a year in pension money. pretty good, but consider that cost of living in fairfield county is one of the top five highest in the country (bethenny frankell, queen mariah and derek jeter all share my county). i also have a 403b (teacher's can't have 401k's because we have pensions) which is a supplemental retirement account that I opt to deposit into. If I move to a red state (which my boyfriend and i plan to), i'll update you then.

[BUWYGF]

I live in Serbia and our public pension plan sucks (people get less than 1000 EUR). In case you do earn a lot above average than its around 1000-1500 EUR. A lot of people just enter private pension plans, which is what I started to do 5 year ago as well  If I keep doing it untill I'm retired, I should be getting between 4000-5000 EUR a month, so that should somewhat give me a comfortable retirement. We'll see how it goes, I'm still young and God knows that this world and its economy are extremely unpredictable. Moreover, there's nobody who can guarantee we won't enter a frikking nuclear war in the next 10 years  the way the USA, Russia and North Korea are playing, it might just happen

[Irvine]

2 hours ago, BUWYGF said:

I live in Serbia and our public pension plan sucks (people get less than 1000 EUR). In case you do earn a lot above average than its around 1000-1500 EUR. A lot of people just enter private pension plans, which is what I started to do 5 year ago as well  If I keep doing it untill I'm retired, I should be getting between 4000-5000 EUR a month, so that should somewhat give me a comfortable retirement. We'll see how it goes, I'm still young and God knows that this world and its economy are extremely unpredictable. Moreover, there's nobody who can guarantee we won't enter a frikking nuclear war in the next 10 years  the way the USA, Russia and North Korea are playing, it might just happen

 

less than 1000eur is more like 250eur in average for Serbia

[ObsessedBritFan1]

I have no clue. But I’m saving up to own my own luxurious condo in a small town where I’ll live way beneath my means so that by the time I’m retired, I will be living in a paid off semi-decent condo where I just travel the world meeting Parisian men that call me their daddy. Unless I happen to meet my soul mate, I guess I’d try BDSM to spice things up by that time. 

[FullyDattAndDatt3full]

On 3/2/2021 at 5:32 PM, Jordan Miller said:

I need to look into this further

Me too!! But you are doing a great job! Tell me how many pop forums have this subforum!

[FullyDattAndDatt3full]

I löve in Estonia and get a disability pension (which is okay because people get it for different reasons, at least i don't want to romantize my illness... make it a beautiful specialty or something, i have learned some people do even that can you imagine...)

In Estonia the prices are somewhat lower than in UK for example, but my disability was just 2 years ago 400 euros and now 500 euros.

Please send good energy that i can some day get this remote internet job i want and maybe be even self employed making a product about human stereotypes

god knows that i am so afraid to even begin cause think it is pointless and can't find market..

view average Estonian prices here:

https://www.prismamarket.ee/varsked_pakkumised