Its quite difficult for a civil servant earning minimal amount of money to buy a brand new modern car, or build a standard three bed room flat well furnished. If the salaries for the low level servants to the top levels, it will enable them earn better and even own a house and a car that is sound.
As you describe @GIFTMICHAEL , the retirement benefit is usually sufficient for basic needs. That is why every public or private employee should fulfill their projects before retirement, either through savings or loans.
That is correct @Sethbala11 , when going from active to retired, many benefits are lost, so the monthly payment decreases considerably, therefore that amount will only be enough to cover daily expenses.
That's just it. We shouldn't over burden ourselves trying to build through it when we never started earlier to think about building. Retirement money for civil servants are mainly for food and medication not building new house.
Building a house with pension monthly payment depends on the level of the work you are doing before you retired , 90% of the retired workers cannot build a house with pension while we still have some people who can build house with their money.
I believe that the way to build a property after retirement is only with a business that generates large profits and you have the capital for it. If you intend to count on the pension, you will have no chance unless you have savings earmarked for that purpose.
That is true, although it will depend on the country of residence and your salary while you are active. In my country it is very difficult for the salary of any pensioner to have that option, unless he is one of the high governmental positions (ministers, vice ministers, rectors, etc).
It is exactly as you describe, with a good investment. For if we think of living on a pension that is insignificant in most countries, it will be a dead dream. That is why those of us who work in government entities must prepare ourselves before retirement.
You're simply right dear. We need to plan life more than just the pension stipend we'll earn in the future. Anyone hoping for that isn't ready to live a better life in the future.
Of course, before retirement! When we can strive and strive to achieve our goals, it is the right time to buy a house or build it. It is not necessary to wait for the pension for it, because it will not be enough.
Yes, we ought to have come up with such project before retirement. I wonder how a retiree will build a house using just pension stipend that isn't nowhere near earning a decent living.
The only way I see viable for this is if you have savings earmarked for this purpose, or an investment that produces profits and is projected to the manufacture or purchase of a property.
With long time savings, and highly income generating investment, its just viable for a retiree to come up with the idea of building a house or buying a well structured apartment.
Yes, that is the way I can see it, since with the social security benefits and the monthly pension payment there is no way. Now if we talk about the high government officials, for sure they will be able to acquire the property with the pension, since their salaries are exorbitant.
