Financial milestones that feel good

[bearishgurl]

[quote=SK in CV][quote=bearishgurl]Well, then, if I’m understanding your post correctly, SK, four of your siblings (2 seniors and 2 “boomers”) have DB pension plans and all are presently collecting benefits (typical). You are finally working in a job which will provide you with a DB pension. And I will surmise that most of all of your siblings have health benefits (or a healthcare allowance) attached to their DB Plans.

[/quote]

Typically, you’re not understanding my post. Three of the four are boomers. Two are collecting. The oldest (that is still alive) and the youngest. Two are not. My oldest brother died at 65. He had no DB plan. Only one has any healthcare benefits attached to their plans. I do not have a job with a DB pension. I have a job with a 401K with no matching.[/quote]

Thank you for the clarification, SK.

[bearishgurl]

[quote=SK in CV]… One of my siblings has DB pensions that pay he and his wife over $170K a year…[/quote]

SK, I don’t think I would be able to find it now but didn’t you once mention here that one of your brothers (the youngest?) was a SDPD sworn staff and recently retired? Is this the brother you are referring to above? Is the $170K in pensions referring to TWO City workers (your sibling and their spouse) or referring to just ONE pension (your sibling).

I just wanted to illustrate to the Piggs that not only were the negotiated “Class C” retirements very generous to sworn staff, but the option of participating in DROP made it even moreso.

[SK in CV]

[quote=bearishgurl][quote=SK in CV]… One of my siblings has DB pensions that pay he and his wife over $170K a year…[/quote]

SK, I don’t think I would be able to find it now but didn’t you once mention here that one of your brothers (the youngest?) was a SDPD sworn staff and recently retired? Is this the brother you are referring to above? Is the $170K in pensions referring to TWO City workers (your sibling and their spouse) or referring to just ONE pension (your sibling).

I just wanted to illustrate to the Piggs that not only were the negotiated “Class C” retirements very generous to sworn staff, but the option of participating in DROP made it even moreso.[/quote]

Yes, both he and his wife are recently retired cops. One participated in the DROP program. The other retired on disability after 7 surgeries from work related injuries and wasn’t eligible for DROP. They are a minority of retirees with DB pensions, and even tinier minority of those under 60 with DP pensions.

[svelte]

[quote=scaredyclassic]if I had a million in a 401k, id assume it would be half a million in 6 months. then id halve that aagin just to be safe. its hard to relax when you keep looking at the steep downside.
[/quote]

Most 401K plans offer money market and stable return options.

If you are risk adverse (and from your postings you are, scaredy!) then those are probably the right choice for you.

[masayako]

1. Buying the first home
2. Reach 7 figure net worth
3. Payoff first home
4. Reach 7 figure retirement portfolio
5. Reach 8 figure net worth

Milestone# 5 is difficult but achievable.

[flyer]

.

[flyer]

Read recently that there are around 1,645 billionaires in the world now,
and–per some of the posts–it’s nice to know we have some on this forum.

Although many of us have posted that we are in the multiple 7 figure and other net worth categories, I think it’s still possible to enjoy the few short years we have on earth (as eternity goes) in whatever financial category we find ourselves, and it is nice to have something to pass onto the kids if we can.

[scaredyclassic]

[quote=flyer]Read recently that there are around 1,645 billionaires in the world now,
and–per some of the posts–it’s nice to know we have some on this forum.

Although many of us have posted that we are in the multiple 7 figure and other net worth categories, I think it’s still possible to enjoy the few short years we have on earth (as eternity goes) in whatever financial category we find ourselves, and it is nice to have something to pass onto the kids if we can.[/quote]

my dad liked the song DONT WORRY BE HAPPY by bobby mferrin. I still have his cd and play it in my car and for some reason, it makes me happy.

Here’s a little song I wrote
You might want to sing it note for note
Don’t worry, be happy
In every life we have some trouble
But when you worry you make it double
Don’t worry, be happy
Don’t worry, be happy now

[Chorus]
Don’t worry, be happy
Don’t worry, be happy
Don’t worry, be happy
Don’t worry, be happy

Ain’t got no place to lay your head
Somebody came and took your bed
Don’t worry, be happy
The landlord say your rent is late
He may have to litigate
Don’t worry, be happy

[Chorus]

(Look at me, I’m happy, don’t worry, be happy
Here I give you my phone number, when you worry, call me,
I make you happy, don’t worry, be happy)
Ain’t got no cash, ain’t got no style
Ain’t got no gal to make you smile
Don’t worry, be happy
‘Cause when you worry your face will frown
And that will bring everybody down
Don’t worry, be happy

[Chorus]

(Don’t worry, don’t worry, don’t do it
Be happy, put a smile on your face
Don’t bring everybody down
Don’t worry, it will soon pass, whatever it is
Don’t worry, be happy
I’m not worried, I’m happy)

[phaster]

first cash paying job long long time ago when I just a new “teen” (chronological age) was a and making a hundred bucks and going to the store to buy a $0.02 tootsie roll…

ya that felt GOOD!

[Author]

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