Personal Finance Review – I Have No Pension Edition
September 9, 2007
At a family gathering this weekend I discovered the employer of one relative offers a pension plan. I thought pension plans were a thing of the past but I guess some companies still have them. Not only that, they offer a 401k match and profit sharing. Wow, I’m working at the wrong place : )
We supplement our 401k plan with Roth IRAs since I don’t have a pension and I’m not planning on any help from Social Security in retirement. As a teacher, my wife has contributed to a state employee retirement fund that should be solvent come retirement time so we can look forward to that; but no pension for us : (
Here are some money articles I enjoyed this week, kind of long review this time:
-Bank of America May Have Removed Balance Transfer Fee Cap @ Suns Financial Diary
-Percent Given, Not Amount, is Key to Generosity @ Free Money Finance
-Interest Rates For Dummies @ Money, Matter, & More
-Should You Take That 0% Financing Offer? @ Blueprint for Financial Prosperity
-Invest In The Stock Market Using These Investing Styles @ The Digerati Life
-A Few Good Reasons Why You Should Pay Your Taxes @ Generation X Finance
-Stopping My Prosper Contributions @ Lazy Man & Money
-Refilling a Toothpaste Tube for Fun and Convenience @ Five Cent Nickel
-September 2007 is eBay Month at MyPoints @ Mighty Bargain Hunter
-5 Romantic Outdoor Day Date Ideas Under $30 @ Consumerism
–Discover your money values and financial demons @ Moolanomy
-How to Feed Yourself for $15 a Week @ Get Rich Slowly
–What’s your tipping point? @ Paid Twice
-Getting Out Of A Cell Phone Contract By Giving It Away @ My Money Blog
-The One Hour Project: Build Your Own Net Worth Calculator @ The Simple Dollar
Last but not least, check out last week’s Carnival of Personal Finance at Advanced Personal Finance.
All posts by Ben
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Great links
Thanks!
Pensions are becoming more and more rare, but there are several companies that still offer them. Besides military and state and local govt, many school systems (including universities) offer them. Another popular sector is airlines and major government contractors such as Boeing, Lockheed Martin, and Northrop Grumman.
Companies that offer pensions, 401k match, and profit sharing tend to be smaller highly profitable companies whose employees contribute greatly to their success. It is their way of keeping them around, and is usually very successful.
As for me, my current company doesn’t have a pension, and I got out of the military well before I was eligible for their pension plan.
I want a pension too! lol
Thanks for the link! Enjoyed the roundup!
Great roundup. Thank you for mentioning Moolanomy. Your relative must be working for public sector — my company only offers 401k, everything else were discontinued.
My wife has a pension. It’s backed by a pretty sturdy company. You might have heard of them, the US military.