Do police retire poor or rich?

headmaster

headmaster

Well-Known Member
Many of the police that I have ever come across retire poor. The main reason for this is still a mystery to me.
 
The police officers in the Philippines retire poor, too! I think that it is because the position here doesn't really pay that much even if they are the ones who are risking their lives every day. It's mostly country service really. They just rely on their pensions upon retiring.
 
It depends on how money is managed, their investments, and their family. But it does seem like cops don't get paid that much, and do need their pensions.
 
This depends both on their country and how much they have been saving for their investment. There are many countries that just simply do not give a good salary to their police force.
 
I think that it is necessary for anyone to know how to save for their retirement. I have heard cases of people given a large retirement fund and waste it all in a few months. Money management is very important in every profession so that one can retire comfortably.
 
Yes, people may not spend it correctly but at the same time people may not be getting any money for retirement.
 
Because they work for the State, and do you know how good the state employees get paid. Pretty good, their retirement is like the best. I worked for the state for fish and game for a little while and the money that was placed into my retirement fund after working there for like five months was awesome.
 
In North America, those positions are state jobs, and from what I hear they have good health and retirement benefits. You just need to put your years of service in and management your money right.
 
In US it really depends on the department and the city that you are in that would have good pension and health benefits. Some officers try to retire in the higher ranks like Sgt, lieutenant, and captain. If you are the chief of police you would get some great retirement benefits.
 
Depends on the country and state they live in. My Uncle retired after 35 years and was very comfortable living off his pension. He was smart and made sure not to over spend throughout his life though also and retired with his home paid for and no other bills other than monthly bills like gas, electric, etc etc. Anyone in any job can retire comfortably if they just manage their money right.
 
Profit5500 said:
In US it really depends on the department and the city that you are in that would have good pension and health benefits. Some officers try to retire in the higher ranks like Sgt, lieutenant, and captain. If you are the chief of police you would get some great retirement benefits.
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Any idea on the amount differences that the ranks would be receiving as a retirement benefit?
 
i don't really think that this problem is limited to the police alone as a matter of fact i feel it depends a great deal on the type of job one is into. ideally in most countries of the world many civil servants retire poor.
 
It's sad that we see a lot of homeless people who served in the military. I don't know why that happens.
As for the police retirement, it definitely depends in which country you served. It also depends on your ranking.
With a higher rank you get more money, though I still don't think it's a lot for basically risking your life everyday.
 
That is so sad. I think that thinking about the future is important in any profession, but if you aren't guaranteed a proper pension at retirement, perhaps investments are the way to go? Start young, and build your capital. Police officers shouldn't ever have to retire poor!
 
As I know police officer who have retired from the police service didnt turned out rich. The money they got from their retirement were just sufficient enough to pay their existing loans and support their medications and basic necessities..
 
I know in california your good if you retire as a cop.. you get your pention and while your on the job alot of people give you free food and stuff for lunch. And you get to carry a badge and a gun. I say police got it made.
 
It's like any job, it very much depends on how you manage your money while you're earning it. In my country, the police get a good pension, so they would be comfortable when they retire - but that doesn't necessarily equate to rich. Police officers need to remember that their career may be shorter than others, and as such they need to prepare for a longer retirement. Of course, there is always the option of getting a desk job which might help you financially, or even another job entirely, but many people choose not to do this and opt instead to use the money that they have earned to follow their dreams while they are still young enough to do so.
 
GemmaRowlands said:
It's like any job, it very much depends on how you manage your money while you're earning it. In my country, the police get a good pension, so they would be comfortable when they retire - but that doesn't necessarily equate to rich. Police officers need to remember that their career may be shorter than others, and as such they need to prepare for a longer retirement. Of course, there is always the option of getting a desk job which might help you financially, or even another job entirely, but many people choose not to do this and opt instead to use the money that they have earned to follow their dreams while they are still young enough to do so.
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Yea but your guys pentions are pretty good compared ot the rest of us. All I have at my job is 401 thats it and I havent even put anything in there yet. :(
 
januz101 said:
As I know police officer who have retired from the police service didnt turned out rich. The money they got from their retirement were just sufficient enough to pay their existing loans and support their medications and basic necessities..
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Isn't that what the point of retirement is? I wouldn't expect them to come out rich or anything like that. Just to have money that will help them out later in life.
 
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