Do you think your pension will be enough for your retirement?

[M.ASADULLLAH]

yes i think my pension will be enough after my retirement because when you retire in good rank your pension will be good so with your handsome pension you can live a good life. in our country pensioners are very happy with their income but along with this thing this thing also does matter that how you spend your pension. if your expenditures are not unnecessary your pension will be enough for you.

 

[Alexandoy]

After the payment of gratuity which comes in bulk, pension money is monthly and it's not up to your actual salary while in active service. So in my opinion pension cannot be enough to cater for the family and foot other bills.

You are right that the monthly pension cannot handle the expenses of the family. Take note that the pension is intended for the retired employee as a subsistence allowance and not as a salary. Therefore if there is a family to feed then the retiree should continue working in order not to jeopardize the family budget. I am retired and my wife will be retiring soon. Right now we are already preparing for that eventually of having no income anymore. The pension for each of us will not be sufficient for our daily expenses not to mention the luxury expenses like the car maintenance.

 

[Asad Ali]

Whether the pension is low or high depends on your job and scale. And if you only want to run the house on a pension, it is almost impossible.Because this is the age of inflation, everything is getting more expensive. Along with pension, you will have to do some work or start a business.

 

[Goodday]

We can't depend on pension pay for living after retirement. And because of that I don't think my pension will be enough for me when l retire so the best we can always do is to save and invest much of our funds while we are still working actively and when we retire, we can depend on that for living goodlife.

 

[Steveade]

It is mostly nt enough to start a business bt one can help himself by havibg multiple sources of income now dat u stil have d strength to.u mustnt wait til u get old before tinking abt pension.u can start saving sometin little into a life tine harvest kind of investment now dat u av enough

 

[HIFSA LAHORI]

Pension depend upon your level of job. If you retired from senior seat of government officer then your pension is enough for you. But if your scale is low then you can not pass your life in this small amount. So, after retirement you can entertained yourself through a small business produced by saving through which life passes easily along with pension.

 

[Sanusi]

It actually depend on the kind of job you are doin,g there are some jobs that pays high while other job don't pay high. Moroever if am earning high and i retired at any time, amount of money i will be earning as pension will be high, i feel its okay for a retirement.

 

[Sammyesx]

The only pension that I trust here is the government's pension which is only $200 monthly as the maximum. Obviously that cannot be sufficient for a middle class like me even if I am frugal and simple in living. Food is getting expensive every year and in a few years the pension will be worthless.I am fortunate that I have some savings to tide me over when the pension is consumed. How about you, have you prepared for that situation when you cannot work anymore that could you maintain your standard of living?

The pension is most often not enough for most pensioner's, except for some few cases, like people where in political positions. That is why it is advisable for one to have a business, that way one won't have to rely on the pension.

 

[Judee201]

I don't think anyone can afford to be truly retired. The possible alternative is semi retired.

The nature of returns expected after tax will also affect the target sum. Considering that retirees need to keep their funds in secure low risk instruments, I would say at least 50m in such instruments plus semi retirement income that brings in at least 6m per annum after tax. This is because the returns on investment will always fluctuate from low to high. Thus total annual income for comfort will be around 11m.

Pension can never be enough for my retirement

 

[Bookwormlux]

I do not think that pension would be enough to sustain me or any person. In my country, pensioners ain't receiving their due pay as they should so it's best to plan for starting a business so that by that time, you won't be waiting for the government to pay.

 

[Quert]

You need to determine how much you think you're going to need in retirement each month to get a real-time photo, then deduct the amount of money you assume you're going to have in retirement each month. How big a difference is that? You're on target if your expenditures are close to your expected payouts. Continue to do what you do, or start spending more.

 

[Obaterof]

In Nigeria I don't think someone should be waiting for pension from the government because as a person retire from working for the government you no longer think of such an individual so I think waiting for pension is not an option

 

[Veetos12]

The only pension that I trust here is the government's pension which is only $200 monthly as the maximum. Obviously that cannot be sufficient for a middle class like me even if I am frugal and simple in living. Food is getting expensive every year and in a few years the pension will be worthless.I am fortunate that I have some savings to tide me over when the pension is consumed. How about you, have you prepared for that situation when you cannot work anymore that could you maintain your standard of living?

Planning for retirement is the most crucial decision to be made before one bows out of service. Normally, the amount of money paid as pension is not up to ones of basic salary before retirement. So it is very difficult to live on pension if there is no other source of in com. Pension in some organizations is not paid monthly for use. Now imaging that which is paid every 3 months, what is the chance of survival.

 

[Nimra Noor]

The only pension that I trust here is the government's pension which is only $200 monthly as the maximum. Obviously that cannot be sufficient for a middle class like me even if I am frugal and simple in living. Food is getting expensive every year and in a few years the pension will be worthless.I am fortunate that I have some savings to tide me over when the pension is consumed. How about you, have you prepared for that situation when you cannot work anymore that could you maintain your standard of living?

As you know that men have a list for money he never say that it's enough for me I haven't need more but he always says give me more money to God so although pensions are good and it meets the requirements of many people means retired people can live happily in this money but whenever you ask to anyone is it enough then he will always says no it's included in nature of human

 

[Sana Diyar]

Depending on the age you retired, if you retired in an age were you can still do something for yourselve, your retire money might not be enough, but if you can't do anything, the money can be okay. In general pension is meant to keep a retired person going in old age. Also considering the high cost of goods the money might not be enough

Retirement experts have offered various rules of thumb about how much you need to save: somewhere near $1 million, 80% to 90% of your annual pre-retirement income, 12 times your pre-retirement salary. But what's right for you?
"Because there are so many variables, even the retirement researchers can't agree on a total dollar amount," says Ben Storey, director of Retirement Thought Leadership at Bank of America. "What each person needs will vary widely based on a number of factors." These factors include your current age, and the age at which you plan to retire or could be forced to retire due to declining health, the loss of a job, or other circumstances beyond your control; and what your sources of retirement income will be.

 

[KvngMurphy]

No I doubt if pension can sustain an individual because it's not enough and in Nigeria the economy is bad and things are on the rise so what can someone possibly afford from an amount that's not up to a thing?

 

[Jimmie150]

My dad retired few years back and the pension he got was not worth it in any way. But he had no choice than to accept it just the way it is. But I feel pension differs depending on country because I know different with their pension policies.

 

[Tariq Shehzad]

I don't figure my annuity will be sufficient for me. I'm not a thrifty individual, I like to take some time off each year and I fantasy about venturing to the far corners of the planet after my retirement. I will set up a business to help produce additional pay.
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[Olaoluwa Abraham Abiodun]

The only pension that I trust here is the government's pension which is only $200 monthly as the maximum. Obviously that cannot be sufficient for a middle class like me even if I am frugal and simple in living. Food is getting expensive every year and in a few years the pension will be worthless.I am fortunate that I have some savings to tide me over when the pension is consumed. How about you, have you prepared for that situation when you cannot work anymore that could you maintain your standard of living?

 

[Kelvin7656]

To know if you'll have enough income in retirement, start by estimating what your expenses should be in retirement. In addition to your Social Security benefits and traditional pension (if you have one), the four percent rule says you can probably spend about 4% of your savings each year.