Making ends meet on a budget is something we all struggle with. Has your pension been enough to supplement your income in retirement?

2016-10-12T02:54:46-04:00

Response by SMSgt Lawrence McCarter made Oct 12 at 2016 3:06 AM

2016-10-12T03:06:46-04:00

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.

Response by Capt Tom Brown made Oct 12 at 2016 5:44 AM

2016-10-12T05:44:37-04:00

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.

Response by MSgt James Mullis made Oct 12 at 2016 10:27 AM

2016-10-12T10:27:15-04:00

Structured/Planned inflation is designed to harm folks on a fixed income (FYI the Federal government works on a planned annual budget increase of >4%). Retirees and Pensioners who are not in trouble today, might be in a few short years. The only way to survive against inflation is to have a savings plan/vehicle that beats the annual inflation, or own assets (that don't depreciate in value), or continue working in a job that gives you annual pay raises at or above the "actual" inflation rate, not the lies the fed has been feeding us over the last few years, so they don't have to give retirees and pensioners pay raises. 2% inflation for 2015, HA! no one believes that.

Response by SFC George Smith made Oct 12 at 2016 10:56 AM

2016-10-12T10:56:52-04:00

only because i am drawing the reduced Social security... at leas till it runs out because all the illegals are going to get and never paid into it...

Response by SSG Private RallyPoint Member made Oct 12 at 2016 3:27 PM

2016-10-12T15:27:13-04:00

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.