I doubt pension money will be enough build a house. For ones pension money to be able to build a house the persons salary must have been so high or the person must have worked for the company for a really really long time.
Can pension salary be enough to build a house for a retiree??
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There are so many factors that would play a role in determining whether it would be possible for a retiree to be able to build a house from his pension. What was the person's educational qualification before he retired, what level of his career advancement did he achieve before retirement? If he did not advance much and the payment is not much, it would be impossible to be able to build a three bedroom flat from his pension.
Obviously I will not advice anyone to retire before start planning to build. Some person still have responsibility to handle at the age of ritirement. I know there is a lot of responsibility during service, like school fees, feeding, house bill, water light etc... But that is the best time to still save and build not retirement time.
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I think pension money decide to can make a house for retiree because some country low giving pension and some country much amount to life spending only if your pension is good and big so you can make the house
I doubt if pension money will be enough to build a house, most pension are just small token, some are not even to cater for the Pensioners basic needs not to talk of a house, I think politicians are been paid pension,, probably theirs might be enough.
Can pension salary be enough to build a house for a retiree?
If your employer funded your pension plan, your pension income is taxable. Both your income from these retirement plans as well as your earned income are taxed as ordinary income at rates from 10% to 37%. ... Occasionally, other types of retirement plans also are funded with after-tax contributions.
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One way to begin estimating your retirement costs is to take a close look at your current expenses in various categories, and then estimate how they will change. For example, your mortgage might be paid off by then - and you won't have commuting costs. Then again, your health care costs are likely to rise. For more help making a precise estimate, use this calculator.
A month's pension is not enough to cover all the expenses of a house, but it is certain that the family gets support. On the contrary, in some countries the pension is so much that you can bear the expenses of the house but in Pakistan. You do not have the permission required to post.
One month's pension is not enough to cover all the expenses of a house, but it is certain that the family will support. In contrast, in some countries the pension is enough to cover the expenses of the house but in Pakistan the pension is a little less and you have to resort to side business.
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One month's pension is not enough to cover all the expenses of a house, but it is certain that the family will support. In contrast, in some countries the pension is enough to cover the expenses of the house but in Pakistan the pension is a little less and you have to resort to side business.
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That's right. If one is only depending on a pension, it won't be enough. The expense of medicine these days are too much, so I think people who are under maintenance would most likely to spend their pension on that alone.
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I think it depends on the type level of job the person retired from. However, from what I've seen pensioners accomplish with their money, I can confidently say that the pension money is enough to build the type of house you described.
Well,It depends on how much they are getting as pension.if they money is reasonable the person can save enough money to buy the land and start building but if it's not then he had no option than to look a way to invest some money and use the profit to get a land and start building.
It is very difficult for pensioner to build their house because pension salary is not enough for them .It is depend on grade .
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Maybe but it depends on what level of job you were doing and how much retirement you got. If you have more money then it can be made. If you don't have more then it is difficult
It really depends on the country because I know here in Nigeria it’s very hard to pay pensioners their money even if they manage to pay they don’t pay fully. And it also depends on the salary of the pensioner while he was still working.
pension money is definitely enough to build a house depending on the stage and the level you are before you retired.also,it depends on the type of house you want to build;how sophisticated you want it to be.
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Well, I do not know about pension in other countries, but in my country I cannot imagine how pension salary can build a beffiting house for a retiree. The amount you earn monthly as pension depends on the level you retired on and the salary structure. I don't think it includes some of the allowances you were receiving while in service, so it's definitely gonna be less than your actual salary while in office. Saving enough to build a nice house from pension is gonna be very difficult although not impossible. It will take a long time to achieve that. It is always advisable to build your dream house while you're still working so you have a place to rest your head and enjoy the fruits of your labour when you retire.
pension money may be enough to build a house for a retiree and it may not depending on the taste of the retiree and what achievement you made before leaving the limelight
If a huge amount of money is being kept in the pension fund, why can't it be used to build a house at the retirement stage? You can even build a house via the mortgage bank and set out plans on how you repay through a period of 5-10 years. So, it's very possible.
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It is possible but sometimes as a government worker you must not depend on your pension to build a house you should start building a house and planning for house when you have employment, your salary or pension can actually build you a House depending on your position in the government, there are some position in which a retirement pension will be enough to build a house and there are also some retirement in which the pension may not be enough to build a reasonable house.
It is possible but sometimes as a government worker you must not depend on your pension to build a house you should start building a house and planning for house when you have employment, your salary or pension can actually build you a House depending on your position in the government, there are some position in which a retirement pension will be enough to build a house and there are also some retirement in which the pension may not be enough to build a reasonable house.
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It is possible but sometimes as a government worker you must not depend on your pension to build a house you should start building a house and planning for house when you have employment, your salary or pension can actually build you a House depending on your position in the government, there are some position in which a retirement pension will be enough to build a house and there are also some retirement in which the pension may not be enough to build a reasonable house.
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Okay, what if the salary is not enough to cover up the mortgage loan repayment?? What will you do to cover the loan terms that runs out in 5-10 years?? Their are pensioners who earn very low amount of salaries which is not enough for feeding and maintenance cost.
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