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Wal-Mart to Hire 100,000 Veterans


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31 replies to this topic

#31    keithisco

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Posted 17 January 2013 - 09:17 PM

View PostBeckys_Mom, on 17 January 2013 - 08:28 PM, said:

I want to ask you..( Just to see if you guys worked the same as us )  .. If you are in full time employment, would it be normal for your company to offer it's employees a pension scheme ?   I have been saving up in my own pension for at least 10years now...If I get another job some place else, I have the option to carry forth my current pension and keep saving ..  It comes out of your wage each month along with tax and your national insurance...   So, by the time I am 65 ( and I am currently still in my 30's now )  I should have a good bit saved in my pension...  A lot of us will do that over here  Some of us will have more than one pension

Power to you B.M. I had a personal pension scheme (portable) for 20 years, and after that time I was seeing only 1.5 to 2.0 % annual increment in the value. I immediately withdrew the funds (no small amount by then) and have seen 7 to 8 % annual increments since then. I am no NOT an Independent Financial Advisor, so will not tell you how I achieved that return, but it was legal and simple. At 7%  annually, then every 10 years your fund doubles in size - this means a huge difference at maturity.

I dont take risks with my pension, but neither do I get suckered into the schemes offered by most Financial Institutions. i took an early withdrawal 2 years ago of 200,000 euros and have bought a property for my retirement already - it is currently let out through an agent, fully insured and bonded, and have 1000 euros net, a month going back into my funds.

From talking to my USA Friends this is not so different to what they do - if they are self - employed. If you are employed by another company (rather than as a contractor) then they seem to get the worst additional Pension Rights - same as UK.


#32    Beckys_Mom

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Posted 17 January 2013 - 09:46 PM

View Postkeithisco, on 17 January 2013 - 09:17 PM, said:

Power to you B.M. I had a personal pension scheme (portable) for 20 years, and after that time I was seeing only 1.5 to 2.0 % annual increment in the value. I immediately withdrew the funds (no small amount by then) and have seen 7 to 8 % annual increments since then. I am no NOT an Independent Financial Advisor, so will not tell you how I achieved that return, but it was legal and simple. At 7%  annually, then every 10 years your fund doubles in size - this means a huge difference at maturity.

I dont take risks with my pension, but neither do I get suckered into the schemes offered by most Financial Institutions. i took an early withdrawal 2 years ago of 200,000 euros and have bought a property for my retirement already - it is currently let out through an agent, fully insured and bonded, and have 1000 euros net, a month going back into my funds.

From talking to my USA Friends this is not so different to what they do - if they are self - employed. If you are employed by another company (rather than as a contractor) then they seem to get the worst additional Pension Rights - same as UK.

My pension is with the Kingfisher group, we used to be able to draw it out when we wanted, but now it is all changed, you cannot touch it until you reach the age of pension..

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#33    Gromdor

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Posted 18 January 2013 - 05:38 AM

The US still has a few different retirement formats.  I personally have a defined benefit pension plan which is structured somewhat like social security in that it pays me X dollars a month per year that I worked.  I also have a 401k which has pre-tax contributions.  The 401k's value will be whatever I put in plus interest, minus taxes when I retire. If I withdraw money early I pay a penalty.  Both of these are through my company and the Union I belong to. My wife owns her own company but she in the sole employee, so she hasn't set up any retirement plans for herself yet.  We are going to set up a Roth IRA for the both of us.  The Roth is similar to the 401k except you put in after tax dollars and don't have to pay taxes later when you retire.  The downside is, you are only allowed to put in a small amount of money each year into the Roth.  As side investments, we also have a stock portfolio and own some real estate.
  We are not typical though, many people only have whatever their company offers. (If they offer anything at all)  Many of the people I have spoken to say that Social Security is their retirement plan!


#34    Beckys_Mom

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Posted 18 January 2013 - 01:13 PM

View PostGromdor, on 18 January 2013 - 05:38 AM, said:

  We are going to set up a Roth IRA for the both of us.  

If you were to post that one single line right there,  on an Irish forum, you would stomp a lot of people and most likely see -> You're going to set up what now? :blink: :wacko: Those three letters mean something completely different over here lol

Edited by Beckys_Mom, 18 January 2013 - 01:14 PM.

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#35    Gromdor

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Posted 18 January 2013 - 04:55 PM

IRA= Individual Retirement Account.   Sorry for the use of he acronym.


#36    Beckys_Mom

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Posted 18 January 2013 - 08:22 PM

View PostGromdor, on 18 January 2013 - 04:55 PM, said:

IRA= Individual Retirement Account.   Sorry for the use of he acronym.

I thought it had something to do with pensions ( Retirement funding )   I was just sharing how the letters alone would look on our side of the fence lol :P

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