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

[Naz Noshin]

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??

It depends on the amount of pension and the house cost which that pensioner wants to build. If he got enough money in pension and he can build a normal house with 3 bedrooms then I think that money is enough to build 3 rooms house. But of the pension money is not enough even to build a normal price house then it's difficult.

 

[Sincerem]

It depends upon the post of the retiree before retirement. A teacher gets 300$ to 550$ pension in my country. An army officer gets much more pension. So he can build an apartment. Similarly smaller rank retiree gets small amount of pension.

Earning $300-550 is a pretty cool cash for retirees. If well planned the cash can do to complete the building project for a simple apartment well furnished for a retired civil servant to live comfortably.

 

[Machismo]

I think people are confusing this pension of a thing. Pension is what a retiree earn every month. So, for a retiree to start and complete a house with pension funds, he or she must have accumulated the money for several years.

 

[Nurudeen]

The total amount of money you will get after retirement will definitely depend on how much you will get with the level you retired with. For example if you retire with level 16 in my country civil service, your pension will definitely be high and it will be enough to build three bedroom flat as you have asked in the post

 

[Saba54]

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??

Sometime bt pension money we can only buy land but in this era i guess pension is not enough after retirement to make a complete house. You either have to get it from another source or to take out a loan. So that after making house you can pay back the loan by your pension money.

 

[Sincerem]

Sometime bt pension money we can only buy land but in this era i guess pension is not enough after retirement to make a complete house. You either have to get it from another source or to take out a loan. So that after making house you can pay back the loan by your pension money.

That is a nice suggestion, pension can't necessarily build a retiree a house. Either one take loan from the mortgage and pay gradually through the pension salary. Or he can save up during his service years for some duration of time, to build a house. Knowing that the pension salary can be used to take care of himself very well.

 

[Eamodu]

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??

Pensions salary depends on your level when you retire. It can also differ depending on your country, hence it can actually be a huge sum. Building a house depends on size and taste to finish,so it's possible that your pension salary can actually build something decent for you if you don't go overboard on the building.

 

[Sincerem]

Pensions salary depends on your level when you retire. It can also differ depending on your country, hence it can actually be a huge sum. Building a house depends on size and taste to finish,so it's possible that your pension salary can actually build something decent for you if you don't go overboard on the building.

Okay, one build a house with his or her pension salaries depending on the sum of money that he earns weekly, or monthly. Another one is the country of residence just as you said. Some countries pays higher to the pensioners than others. So if the pensioner comes from one those countries that pays higher he might build a house of his own.

 

[Nicklas22]

Yes
It all depends on the amount of pension you're been paid and your number of family you're taking care of as a man
A man with small pension can't build a house because he has to take care of his family first
But a man with a big pension can save for some time and start building his house
It just depends on the amount of money been paid as your pension

 

[Nimra Noor]

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??

I think so if one want to build a normal house not very high class then may be it is enough but for this is also required to have job at good grade which gives good pension after retirement in this way one can build a house after retirement

 

[Sake]

No, it's definitely not enough to build a house unless you save it up but it would still take years. Best you can do to buy a house with that money is use it to start a business and make it grow enough to afford a house. Pension money is not even enough for all your needs if you're just relying on it.

 

[Gilead]

This highly depends on the amount of pension that is accredited every month to the retiree. If it is a considerable for significant amounts then why not?.. in short period one could build a house and even if the amount is not really considerable the retiree can always save to the point of building a house one day.

 

[iamgroot]

I think its not enough. And i feel sorry for those who came to their old age that are not able to save money while they were young. In the end, they only rely on their pension money to sustain their neccessities.

 

[Bart Simpson]

It depends on what grade of your job and according to your salary, that you get pension, then that person can make a plan to build for house If the made Bedrooms, on three bedrooms we should at least $ 20k required for this.

 

[Ebensco]

Pension money is definitely not enough to build a house for a retiree because what they are being paid as monthly pension is not much, I have head of retirees in my country being paid $45 monthly as pension. Now this money is not enough considering these pensioners needs to feed and in most cases still take care of some family members.

 

[Xerryl]

I strongly doubt if you will be able to build a house from it, it still depends on the kind of building you planning to build.
You need to save money for yourself, in addition to the ‘pension,’ you will receive if you want to be comfortable in retirement.

 

[Ayokex]

Pension is not meant for such a big project. Pension is designed to sustain a retiree to cater for their needs. If you're talking about embarking on such a huge project I think it's better to use the gratuity. Gratuity is always a huge amount of !money, which is meant for a ritiree to embark whatever project he/she could not accomplished while in service. Many wise people have resolved to always invest their gratuity by starting a business with.

 

[Donolatunji]

KEY TAKEAWAYS

To know whether you'll have enough pay in retirement, start by assessing what your costs ought to be in retirement.

Notwithstanding your Social Security benefits and customary annuity (on the off chance that you have one), the four percent rule says you can likely spend about 4% of your reserve funds every year.

On the off chance that your retirement pay won't be sufficient to cover your costs, figure out how to expand your pay, lessen your costs or both.

 

[Nimra Saeed]

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??

Here in my country which is Pakistan, when a govt employee gets retired, he receives a huge amount of money as retirement and after that he gets pension every month. So this is more than enough.

 

[Noor khan]

Pension money is definitely not enough to build a house for a retiree because what they are being paid as monthly pension is not much, I have head of retirees in my country being paid $45 monthly as pension. Now this money is not enough considering these pensioners needs to feed and in most cases still take care of some family members.

Yes if someone wants to build a house by pension then work should be according to their budget and i strongly doubt if you will be able to build a house from it, it still depends on the kind of building you planning to build.
You need to save money for yourself, in addition to the ‘pension,’ you will receive if you want to be comfortable in retirement and have good amount of pensoin.