Plan for Retirement

There is an interesting article on Money Sense about saving for retirement.

It does not really talk about my situation. I worked for companies that had good pension plans like Defined Benefit Plans. However, these plans are only good if you start with the company young and stay until retirement. Then you get a good pension. However, if you change jobs, you have problem. You can get money out of the plans when you leave, but it is very little you will get. I think if you change jobs, you are better off with a Defined Contribution Plan, not a Defined Benefit Plan.

In a Defined Benefit Plan, there is little money in the plan for your retirement. The company puts a lot more into the Defined Benefit Plan the older you are. However, in a Defined Contribution Plan, the company puts in equal amounts in all their employees’ plans.

On my other blog I wrote yesterday about Medtronic PLC (NYSE-MDT) ... learn more. Next, I will write about EQB Inc (TSX-EQB, OTC-EQGPF) ... learn more on Wednesday, October 9, 2024 around 5 pm.

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