How do I factor my teacher pension into my savings rate?
Hi Guys,
I’m a public school teacher and pay a fixed amount into the state pension system. At retirement, my pension will be 2/3’s of my average salary over my final 5 years of teaching. I’m wondering how (or if) I should factor that into the goal of a 25% savings rate. As of this year I’ve been aiming for 25% regardless and I do not factor my mandatory pension contributions into that number. Thoughts?