Hi all! I’m 29 years old, single, never been married, don’t have any kids, in good health, and I have an Associate’s degree and a Bachelor’s degree. I’m seriously thinking about becoming a police officer and doing it as a career move. A friend of mine, who lives in my neighborhood, retired last year as a police officer at the age of 43 from 20 years of service and his lifetime pension benefit amount every month is currently $2,300. He also gets additional lifetime income of about $1,200 per month from a personal annuity he invested in over the last 21 years after he became a police officer. He’s now 44 and says he’s so glad he was a cop and that he retired 25 years earlier than most people could ever dream of retiring. How much is your retired police officer pension amount every month? Does it adjust to inflation every year? How are the retired health benefits too? I really want to retire early at age 50 and the only way I can think of doing it is to be a police officer for 20 years, from age 30 – age 50. Any answers would be appreciated. Thanks!
Posts Tagged ‘police’
Do US police officers get a good lifetime pension and good lifetime health benefits after 20 years of service?
Hi all! I’m 29 years old, never been married, no kids, and I’m college educated. I really want to pick a professional work career very soon. I have an Associate’s degree in Computer Information Systems and a Bachelor’s degree in Psychology. I live in Baltimore, MD. One of my major goals in life is to financially retire at age 50. I plan to work until my last day on Earth but I want to have a steady pension and annuity lifetime income always coming into me every month after I hit 50 years old. With the bad economy, I can’t count on Social Security or even a 401k plan. Other than working for the US federal government, I know I can retire as a police officer after 20 years of service. I already have 11 years of commercial security experience under my belt. I’m at a point in my life to where I know I have to make up my mind within the end of next year to figure out what I want to do as a career so I can start out my life and plan for my own retirement. The one thing that keeps me from being a police officer is the danger attached to it, such as getting shot or even killed chasing after losers and criminals. I’m in great health, have CPR/First Aid certification and like to work with others. Here’s my question. Do US police officers get a good lifetime pension and good lifetime health benefits after 20 years of service? Any answers would be appreciated! Thanks!