#CareerDecisions #PensionVsSalary #JobOpportunities
Hey everyone! 🌟 Let’s talk about a tough decision I’m facing right now. Should I let my vested pension continue to grow with my current job, or should I take a 34% raise by moving to a new position? Here are some quick points to consider:
✨ Current Job:
– Love the work and the company
– Vested in a pension that will pay out $600k or $3k-4k a month
– Secure job with no layoffs
– 403b with 50% matching up to 6%
– On-call shifts and $67,000 salary
✨ Possible New Job:
– $90,000 salary
– Less secure feeling
– Pension stops growing
– May not like the work as much as current job
If my current job offers a raise, should I take it to keep my pension growing? Or should I take the new job for the higher salary but riskier situation? 🤔 What do you think?
In my opinion, it’s essential to make a decision that aligns with your long-term goals and financial stability. Consult with a financial advisor to weigh your options and consider the potential impact on your future. I hope this helps and I’d love to hear your thoughts! 💬 #CareerAdvice #FinancialWellness
Unless you’re in a kind of low income area, 67k for 15 years experience for what you do seems kind of low. It’s no surprise someone else would offer you 90k. You’re a long way from getting that 600k payout at your current place, and by then the extra money from the other job would easily beat it if invested properly in a low risk way. So the other position is a lot more money in the near and long term.
I understand your concerns about security but that is always a risk no matter what you do. Only you can decide what’s best there. But my gut is that your current job is underpaying you by a fair bit.
67k for 15 years experience in tech, run don’t walk.
I start my NCG’s at 90k.
You should be making 140k+
Stay and pick up contractors work since you’re full remote. Pension is the best
If you get fired, do you lose your pension?
Take the money and save the equivalent of what the pension contribution is annually
On call. Personally had me from there. Take the pay raise. No guarantee you’ll make it to 65 and not being on call will take away a lot of stress.
Something to think about if you DO take the new gig. Most places that match to x% for a 401k there is no limit to how much YOU can put in. So you could probably put in the 6% PLUS what you’re currently putting into your existing pension plan, that would grow your new 401 faster while you still take home more.