Posted on Oct 12, 2016
Making ends meet on a budget is something we all struggle with. Has your pension been enough to supplement your income in retirement?
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Folks who rely on one source of retirement funding, eg Social Security, military or civilian job pension, etc may find themselves sadly out of luck over the years. Unless absolutely forced by circumstances to rely on one source, it is strongly advised by just about everyone to develop multiple sources of retirement funding, no matter how much you have to scrimp today in doing so. One source will never be enough for the average working stiff to supplement or provide any decent retirement.
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With inflation it seems the available money has less purchasing power, I already collect retired pay both from the Military and a Civilian Police Dept. I have health care coverage from both retirements which also helps. I still however work and will be 70 in approx one year and will hold off until then to start My social Security payments to increase the percentage a little. There is no advantage on waiting beyond that point.
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My military retirement is one leg of a four legged chair. It will be supplemented by social security, retirement savings (401K) and home ownership. I don't see how anyone could ever really relax on a two legged stool.
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