Should I Stay At My Job Just For The Pension?
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As employees, one of the most common reasons that we stay in our jobs for the long-term is to build up our pension. It’s an understandable mentality, but is it really worth it to stay in a job that you may not enjoy or feel passionate about, just for the sake of a future financial reward? In this article, we’ll take a closer look at the idea of staying at a job purely for the pension, and explore some alternative options that may be worth considering.
Firstly, let’s consider the idea of staying in a job that you don’t enjoy. When you spend the majority of your waking hours in a job that you don’t enjoy, it can have a negative impact on your overall well-being. You may feel unhappy, stressed, or even burnt out. It’s important to weigh up the benefits of staying in the job purely for the pension, versus the potential negative impact on your mental and emotional health.
Secondly, it’s worth considering that there are alternative ways to build up a pension. It’s not just a case of staying in the same job for 30+ years and building up your pension that way. You may be able to invest in other retirement accounts, such as an IRA or 401(k), which can offer greater flexibility and potential for growth. You may also have the option to open a personal pension plan or invest in stocks and shares. These options may require more research and effort on your part, but they offer a greater level of control over your retirement savings.
Thirdly, let’s consider the potential downside of relying too heavily on a pension. While a pension can be a great way to secure your financial future, it’s not guaranteed. There’s always the possibility that the pension fund could run into problems, or that your pension payments may not be as high as you had anticipated. By putting all your eggs in one basket, you may be setting yourself up for disappointment and financial hardship in the future.
Ultimately, the decision to stay in a job purely for the pension should be weighed up carefully. It’s important to consider the potential negative impact on your mental and emotional health, as well as the limited options that this approach offers. By exploring alternative retirement savings options and taking a proactive approach to investing in your future, you may be able to achieve greater financial security and flexibility, without sacrificing your happiness and well-being in the present.
Most that I knew stayed in state service till they could retire and have their pension, and not a day longer than necessary.
Sounds like he just needs a promotion where he is at.
I draw a retirement pension for the police department awesome benefit.
Pension is a career lock in technique. Works fine for the govt class, but a lot of people want to try something new. Pensions are what is costing govt at all levels so much and they are going to be the ones rioting in the streets when the money printer breaks. It is very old fashioned and not sustainable, hence why it is very rare in the private sector now.
Clear winner is the pension. Do something else later while collecting a pension.
Be willing to put in $40k more worth of work because that’s what they’re paying you for
This reminds me of half the guys who work at the VA and stay there just for the retirement, even though they would double their income working on the outside. You never live long enough to make the retirement worth it.
My pension is the only reason i'm still at my job.
Most people will spend the extra monies they earn, with pension company pays on your behave and you will forsure have it, plus health insurance the rest of your life
Easy to say he wouldn't stay when you haven't been there.
Dave should teach him how to value the pension and then determine if the pay bump would allow him to save enough to replace the pension.
Pension!!! Pension!!!!
STAY FOR THE PENSION!!!!!!!!!!!
The people that complain about pensions probably don't have one and are envious of those that do. You can't beat the passive income and the time that you have to enjoy yourself. You can't put a price on time.
Most federal positions allow you a sabbatical. Also take into consideration what the wife does. What are the associated costs of the medical coverage? How much further is the commute? This is a life changing decision and the money shouldn’t be the primary focus.
Grass is always greener on the other side. Stay and enjoy the pension. Dave has never liked pensions.
I work for a county part time as an EMT which offers a pension and I’ve definitely considered dropping my full time working at a higher paying private EMS service to go there and the pension is definitely part of my considerations
apply for different jobs with the gov but STAY!!! the pension is small but its better than nothing which is the alternative.
Both these jobs sound to pay reasonably well. My thought thus would be, how would you like to spend your life for the next several years?
Amen brothers. You've got to like the profession and then you can go wherever you want to and enjoy the experience. Worked for me in the o&g business and education.
ah pensions are another thing boomers and their greed sold out, remember when boomers sold out their country to stay in their ivory towers shame shame shame what a greedy generation
Omg. Pension yes !
You wrong Ramsey.
Omg
Your security is Union !
Wake up
No, you stay for the pension. Worst advice I have ever heard out of his mouth…If pensions were so bad, every politician would be the first ones to give them up. Pensions have all the upside. You will run out of your 401k money before my pension ever runs out. Im all for chasing the money but 50k a year is not worth it enough to lose a pension over.
May Almighty God heal the Affected, Create job for the jobless , pave way for us all And make this year a Great and memorable one Amen.