Can pension salary be enough to build a house for a retiree??

Sammyesx

Active member
Their are countries that pays their retirees considerable amount of salary as a reward for the years dedicated during their active service career. While some countries pay their retirees less salary after bowing out of service.

Do you think that the salaries they pay this pensioners will be enough for them to build a 3 bed room flat apartment well furnished??
 

IamDozzy

Active member
It depends on so many factors which I am going to explain. First of all, it depends on the amount not the money the pensioner receives, is the money paid in installments or once?. Secondly, it depends on the type of house the pensioner wants to build, does he want the house to be built with state of the art facilities or just a normal building. Thirdly, it depends on the area he decides to locate the building. If he located the building in a rural area then land would be cheap but if he located the building in an urban areas then the land would be expensive. All these would determine whether are pensioner would be able to use his/her salary to build a house.
 

MarieArie

New member
Many of us live longer, so it's possible that you'll be retired for a long time. Therefore, it is necessary to ensure that you have ample stable income so that you do not think about how to pay the bills. Future costs are, of course, impossible to estimate. So the closer you get to retirement, the better understanding you're likely to get of how much money you're going to need to maintain or support your present standard of life.
 
D

Deleted member 28873

Guest
I don't think so why would any one use his pension money to build a three bedroom flat. if he was really intreasted in building a house why didn't he or she build it when he or she is working and getting payed complete salary.pension money is not usually that big,it is majorly for sustainance,living comfortably.It is mostly been payed to a pensioneer on a monthly basis by a company or government organisation the pensioneer has served for a long part of his or her life.It only possible if a person has a retired plan insurance in that he could request his money all at once.
 

Mataracy

VIP Contributor
If i may say it depend on the work or your employer.if you are working under Federal Government like in my country Nigeria it possible that you build a befiting house.

But if you fall at the category of those working under state and you are not doing side job along it will not be possible.
Under local government workers it's not possible if one is not doing other work along then it will not be possible.
 

Abee111

Active member
Its depend on how someone plan on his life and how his salary of his pension amount is..
But to me when someone was not be able to build a house when he was receiving for that his pension,he cannot be able to build a house with his pension because he will see it as a little amount
And when someone is wise enough, he will build houses not even house with his retiring salary before he start receiving pension which he will be using them to take care of himself, or setup a little business which will be generating him some income.
 

Alexandoy

VIP Contributor
The monthly pension that I presently receive is very minimal and probably just enough for my personal needs. The amount cannot even take care of my daily meals because I am a middle-class citizen who is not used to eating cheap foods. Basically the pension is said to be for maintenance medicine of the retiree. Fortunately for me, I do not need maintenance medication so I use my pension to buy special food that I like.
 

Samuel72

Verified member
It all depends on how good you are on saving, and also it depends on how high and low your bill maybe. It is possible for you to save your pension salary to build a house if you have low bills and also you must be very good in saving. But if your bills are still high, I don't think it is possible for you to save pension salary to be the house
 

Mellorando

Banned
Some people pension money are higher than others and vice versasomeone with higher pension amount to be able to build a house for someone with no pension amount cannot build a house but see if you can invest his pension money on something that will be more productive and will earn him a lot of money in such a way he will be able to build a house of his own
 

sincerem

VIP Contributor
It can't be enough if the retiree solely based on the low monthly pension stipend. But if the retiree made earlier provision for other income flow then it would be enough to set up a furnished house for the retiree. The business needs to be a steady income flowing business, and the income needs to be reason enough to carter for such project and the bills of the retiree.
 

btaliat

VIP Contributor
Even if it is enough, one should not take all his pension to build house. A serious worker should even be planning on how to roof his head before his retirement. Shifting everything to retire time may let too much to be done during retirement which may not be completed because pension money is designed to feed.
 
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