I'm not sure it's wise to put all your eggs in one basket, especially if that basket is something very expensive for the government like a DB pension plan. What makes you so sure this plan will still be solvent when you retire? Or that you'll get anywhere near the benefits that you were promised? We're now living in a country that loves to spend, and our province is no better. If you don't believe that "could happen", all you gotta do is look at countries like Greece that had a spending problem. DB pensions there are reduced in payout and retirement age has been pushed back (which is just a pension reduction phrased differently).Originally posted by HiTempguy1
Either way, as I mentioned, with the way our pension works, I am putting away 24% before tax dollars and it shows an extremely comfortable retirement ($70k/year at 55). I don't really have a good way to translate that into "after tax". I suppose I could take the amounts paid and "tax" them? Then compare to my actual take home on two pay stubs. Of course, I also get paid biweekly, so two paystubs is less than somebody else's two 15 day pay periods.