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At least in California, teachers also get pension that is equal to their salary.
by coolspot 5y ago
At least in California, teachers also get pension that is equal to their salary.
- RhysU 5y agoThis is underappreciated. Think about what contributions one has to make to a self-funded retirement plan to acquire a pension equivalent to that available to teachers.
- RhysU 5y agoTo expand, seriously, pretend that you are buying an annuity providing a guaranteed, life-long annual payout equivalent to a teacher's salary in your town. It's a slug of cash that will make you blush. For example, https://www.bankrate.com/calculators/investing/annuity-calculator.aspx https://www.bankrate.com/calculators/investing/annuity-calcu... tells me that a $30K/year annuity good for 30 years will require more than $500K of principal at a 4% growth rate. This is a coarse approximation.