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RE: Sustaining Stability
I am not sure I would call the current rates crazy:
At 6-7% 30 year fixed actually is inline with a long term average, it is just everyone got used to 4% or lower...
The medical emergencies are the only reason I might want to stay in my job after 62, there is no other reason...
I have been working at my current job for 23.5 years which earned me 47% of my current salary as defined benefit pension. If I keep working till 62 the benefit will be 74% of may salary at that future time so there will be no point to keep working...
0.00096581 BEE
We have some kind of equation too with a multiplier and all of that, but I don't think it matters once I hit 30 years. After that it is just the base number that changes, not the percentage. 6% is trash. I about had a fit when my wife got a new car and that was the best they could give us. The lady acted like she was doing us a favor, I told her she was smoking crack.
Our multiplier is simple 2% for every year of service. At 62 I can retire with no benefit reductions since I would have over 30 years of service... We have to contribute to this plan and we don't even control the rate at which we contribute:
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