Can pension salary be enough to build a house for a retiree??

[frederick_9]

A person can establish a plan to build a house depending on the grade of their employment, their salary, and whether or not they receive a pension. If the bedrooms were made, we would need to spend at least $20,000 on this.

 

[Smiles20]

The very hard truth is that I do not think it is going to be enough for you to build a house especially if you have not started building it right from when you are in active service.

 

[Bigron]

Their are countries that pays their retirees considerable amount of salary as a reward for the years dedicated during their active service career. While some countries pay their retirees less salary after bowing out of service.

Do you think that the salaries they pay this pensioners will be enough for them to build a 3 bed room flat apartment well furnished??

The retirement fund is insufficient to construct a residence. Construction requires a substantial amount of money, which pension schemes cannot finance except when the retiree has a substantial savings or an enterprise that produces extra revenue.

 

[Sincerem]

The retirement fund is insufficient to construct a residence. Construction requires a substantial amount of money, which pension schemes cannot finance except when the retiree has a substantial savings or an enterprise that produces extra revenue.

Definitely there should be some savings before having to rely on the retirement fund for building project. If there is no savings that means their retirees has started the building projects already and is looking for the retirement fund to complete it all.

 

[Lynaia]

If you're talking about your pension money after retirement, then i don't think it will be easy to build a house from it. The money you will be getting after retirement is just for taking care of yourself

 

[Bigron]

Definitely there should be some savings before having to rely on the retirement fund for building project. If there is no savings that means their retirees has started the building projects already and is looking for the retirement fund to complete it all.

I concur with this statement and the two approaches can definitely be adopted by different senior citizens. The most important thing is that an individual should prepare towards the retirement without a shadow of a doubt

 

[Bbwoy95]

Definitely there should be some savings before having to rely on the retirement fund for building project. If there is no savings that means their retirees has started the building projects already and is looking for the retirement fund to complete it all.

Yh, but also it can depend on the retirees work before pension. If it was with a high payment, I think that it can start with something, if not even a mansion.

 

[Sincerem]

Yh, but also it can depend on the retirees work before pension. If it was with a high payment, I think that it can start with something, if not even a mansion.

People should try to understand that if they do not have a high-paying job then they should consider starting up a business, i wouldn't want to depend on something that can't give me a comfortable life.

 

[Sincerem]

I concur with this statement and the two approaches can definitely be adopted by different senior citizens. The most important thing is that an individual should prepare towards the retirement without a shadow of a doubt

That's what I will try to do if I have opportunity to be employed in any organisation that gives opportunity for employees to receive pension , we must have plans for the future in whatever we are doing.

 

[Alisco]

It depends the ministry you worked for, the last level of promotion attained before retirement and how much is your pension scheme. If you worked for ministry of finance or health definitely you can build a mansion

 

[Bbwoy95]

People should try to understand that if they do not have a high-paying job then they should consider starting up a business, i wouldn't want to depend on something that can't give me a comfortable life.

Yep, it cannot help them to achieve a comfortable life as you stated. And this is one of the key things to consider during PENSION time even if there's a savings somewhere.

 

[Bigron]

That's what I will try to do if I have opportunity to be employed in any organisation that gives opportunity for employees to receive pension , we must have plans for the future in whatever we are doing.

It is definitely important to prepare towards pension financially because reaching the scheduled retirement age is inevitable, so far as you are working in the public sector.

 

[Claraviolet]

I don't think so. With that amount, they need to provide food and clothing for themselves and then they will have to consider buying a house. So, it's better to get a house before you retire.

If you try to get a house now, probably in 10 years you would be able to clear out all the loans and everything else(assuming that you still have about 10 years of service left). However, you will have to be on saving mode all the time as the time span is less in this situation.

In my country the pension is just too low and you won't be able to get decent food with that amount. Also, these days they are giving out the entire pension fund at once.
So most of the folks I know are doing business with that amount so that they would be able to make a living later with interest alone.

 

[LaptopCoreI7]

First of all you have to look at the type of job the person had. And the salary he was earning. That determines how much one will get in his or her pension.

 

[Sincerem]

Yep, it cannot help them to achieve a comfortable life as you stated. And this is one of the key things to consider during PENSION time even if there's a savings somewhere.

Exactly , but I don't know why so many people don't put all these things into consideration. The most important thing we should be looking forward is the future and a point that we don't live a a miserable life at old age.

 

[Sincerem]

It is definitely important to prepare towards pension financially because reaching the scheduled retirement age is inevitable, so far as you are working in the public sector.

Then people who are working for themselves should be looking for every opportunities to plan for old age , it could be in terms of service or any other thing that will ensure comfortability at old age.

 

[Bigron]

Then people who are working for themselves should be looking for every opportunities to plan for old age , it could be in terms of service or any other thing that will ensure comfortability at old age.

This is a clever idea, in my opinion. Smart individuals will always search for chances that will improve their quality of life when they grow old, such as insurance schemes that are beneficial.

 

[Sincerem]

This is a clever idea, in my opinion. Smart individuals will always search for chances that will improve their quality of life when they grow old, such as insurance schemes that are beneficial.

That is a nice points from you Bigron, insurance is nice and gives opportunity for people to live a comfortable life after retirement. Insurance is nice but so many people seems not to really understand how this works.

 

[AruneBend]

Their are countries that pays their retirees considerable amount of salary as a reward for the years dedicated during their active service career. While some countries pay their retirees less salary after bowing out of service.

You can hardly do this in my country, houses here are insanely expensive; so many people can't even live properly, which is sad, so if you want to buy a house, you need to save up a lot. Pensions are also determined by the type of job you worked and other things it also depends on what kind of house they want to buy

 

[Bigron]

That is a nice points from you Bigron, insurance is nice and gives opportunity for people to live a comfortable life after retirement. Insurance is nice but so many people seems not to really understand how this works.

Insurance is quite a beneficial scheme which can really propel you to financial stability. However, the general misconception that has been peddled around concerning it has infested several people's minds.