Quote:
Originally Posted by Boogaloo
(5) Learn as much as I can about investing, and do not be afraid to ask questions here.
(6) pray that I make it to 68 and still have 20 + years of good living left.
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5) If you like to read, here are some books you should consider reading:
Morningstar has a good Mutual Fund series:
Amazon.com: Find the Right Mutual Fund: Morningstar Mutual Fund Investing Workbook, Level 1 (9780471711858): Christine Benz: Books
Amazon.com: Morningstar Guide to Mutual Funds: Five-Star Strategies for Success (9780470137536): Christine Benz: Books
And then my fav investing book of all time:
Amazon.com: The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (Revised Edition) (9780060555665): Benjamin Graham, Jason Zweig, Warren E. Buffett: Books
6) I'd like to reiterate that you need to speak to HR for clarification.
The vast majority of retirement plans require (by federal ERISA guidelines) that you have
some benefit after no more than 7 years with the company. But some plans are on a "years of service" schedule to determine how much benefit you'd receive, for example - maybe 4% of annual salary per year of service. Then if you retire after 20 years, your pension benefit would be 80% of your final salary. (I'm just making up those numbers for example purposes as I don't know what percentage your pension is actually using)
So where they may have told you correctly that such a pension wouldn't give you 100% of your pension until some point still 20 years in the future, if you retire at 65, there
may still be some benefit paid out to you.