Discussion Spend pension funds before ctb

[LaBrava]

Just something I'm randomly thinking about and wondering if anyone has any knowledge. I've had around 20 years of contributions paid into a government occupational pension which if I don't make it to pension age (around 65-67) I'll never see a penny of, and at 52 I'm a long way off. In my country you can now take money out of your pension from 55, but don't think I can last that long either. There are companies that will give you an advance on this money early but totally rip you off to high heaven with interest. Maybe I can drag on to 55? I guess if I decide I'm really done then I could just burn up this money to give me a little more time before I go. Any thoughts welcome. Any suicidal pension advisers here (lol)?

 

[Final Escape]

Just something I'm randomly thinking about and wondering if anyone has any knowledge. I've had around 20 years of contributions paid into a government occupational pension which if I don't make it to pension age (around 65-67) I'll never see a penny of, and at 52 I'm a long way off. In my country you can now take money out of your pension from 55, but don't think I can last that long either. There are companies that will give you an advance on this money early but totally rip you off to high heaven with interest. Maybe I can drag on to 55? I guess if I decide I'm really done then I could just burn up this money to give me a little more time before I go. Any thoughts welcome. Any suicidal pension advisers here (lol)?

I would wait, might as well get the benefits of having put in all those years if u can. Will the pension massively improve your life?

 

[LaBrava]

I would wait, might as well get the benefits of having put in all those years if u can. Will the pension massively improve your life?

I'm at a point where the only work I can get is minimum wage retail crap and I don't have my own home, so I'll likely never be able to retire. If I had some cash now I could just quit my shitty job, live for a little while doing as I please and then ctb. I just can't face another 15 years of this before drawing a pension which might not be enough to retire on anyway. I really need to just go into suspended animation until I'm 65.

 

[DreamCatcher]

If you're serious about not sticking around, then by all means rip out your savings and pension and enjoy life now with it.

In fact I'd suggest that to people that want to live too. Having money when you're too old to enjoy it seems to be a real problem, just enjoy life and if you still feel like sticking around get another job later. Many people do.

I would rather live a few years of freedom than a lot more as a wage slave. I imagine you'll get nearly as many days off too. Just all at once and up front without having to wait for them.

Every year of freedom that you can have is 365 days of vacation.
Every year of wage slavery is 104 of relative freedom (weekends) and a few vacation days. But you have to suffer the other 261 days EVERY YEAR to earn those days off. And even then as a wage slave weekends are usually spent getting ready for the week ahead more often than not.

Somewhere the math makes sense especially if you can take retirement money and enjoy life for a few years or more without trying. Then CTB when the bills come due or you get too old to enjoy it anymore. I'd suggest everyone do the math themselves and find the tipping point where it's better to just jump the shark and try a different tack in life.

Best of luck!

 

[TheGoodGuy]

Sounds like a good plan, I always love the idea of suicide as a retirement plan I mean I don´t see anything good about becoming old (mostly because I miss being a child and I already feel like a fossile at 25). So to live wealthy for several years and just enjoy life (assuming your body works fine) sounds awesome. It doesn´t make sense in this world people work till they are 70+ years old then retire and are now wealthy but they are too old to enjoy life properly anymore and many people will even die in their mid 70´s so work all your life to live the life you desire for 5 years is a ripoff.

Also it sounds fucked up that you have paid YOUR OWN money for 20 years and are not allowed to get them, who the hell are they to decide that for you it´s your money!

 

[DreamCatcher]

Sounds like a good plan, I always love the idea of suicide as a retirement plan I mean I don´t see anything good about becoming old (mostly because I miss being a child and I already feel like a fossile at 25). So to live wealthy for several years and just enjoy life (assuming your body works fine) sounds awesome. It doesn´t make sense in this world people work till they are 70+ years old then retire and are now wealthy but they are too old to enjoy life properly anymore and many people will even die in their mid 70´s so work all your life to live the life you desire for 5 years is a ripoff.

Also it sounds fucked up that you have paid YOUR OWN money for 20 years and are not allowed to get them, who the hell are they to decide that for you it´s your money!

Sadly there are a lot of retirement plans that lock up your money or limit what you can do with it before you retire. I think it's pretty criminal myself, but so many companies and governments do it. I think it's just to coerce people to stick with the job and not wander off to something else.

If it's just a normal 401k or something that you control you can pull the money out. If you happen to survive to tax time you might owe a big penalty on it, but if you're not planning on sticking around then the IRS can't haunt you in the afterlife (That I know of)

 

[TheGoodGuy]

Sadly there are a lot of retirement plans that lock up your money or limit what you can do with it before you retire. I think it's pretty criminal myself, but so many companies and governments do it. I think it's just to coerce people to stick with the job and not wander off to something else.

I get the "logic" behind it so a person will be sure to have money for their pension but still it´s THEIR OWN money so if they change their mind for whatever reason e..g the reason OP stated then they should be able to get their money.

Btw: I love the math you did about vacation it just sums up modern day "life" perfectly. I don´t get how people can work 5 days a week only having 2 days off and a couple weeks vacation a year and do that for 40-50 years that isn´t life to me.

Just looking at the math makes me think of the quote "I rather live one day as a lion than 100 years a sheep" because 2 years of freedom and wealth or 30 years with no freedom and mediocre pay I know what I would choose.

 

[LaBrava]

Some great responses here, thanks everyone. By the kind of fucked up irony that fills my life I've come across a vacancy in my old field that I could apply for, and so that old give it one last chance thing kicks in and I'll probably force myself to apply. But even if I get it, although it may be a little bit better than what I have I'll still hate it and struggle with it like always. I just don't want to do any of this anymore, but it's hard to just throw it all in and go for ctb. We'll see, but I've got some great insights from here to mull over.

Every year of freedom that you can have is 365 days of vacation.
Every year of wage slavery is 104 of relative freedom (weekends) and a few vacation days. But you have to suffer the other 261 days EVERY YEAR to earn those days off. And even then as a wage slave weekends are usually spent getting ready for the week ahead more often than not.

So true. For me even days off from work the shadow of having to go back just hangs over and spoils them. It's always in the back of my mind.