Alexandoy
VIP Contributor
The retirement pay is a one time bonanza that an employee receives upon retirement. The amount is based on the length of tenure. In big corporations the retirement pay for an employee with 20 years of service gets 2 months of salary for each year. One example if the salary is $4,000 and the tenure is 20 years then the employee gets $160,000 which is a substantial amount in our currency (8 million pesos).
My wife is retiring in 2 years and she has been with the company for more than 30 years. Now the issue is what to do with her retirement pay. My plan is to buy either a lot for an apartment or a land for our retirement home. Most of the suggestions are businesses of different types. Do you have your own suggestion?
My wife is retiring in 2 years and she has been with the company for more than 30 years. Now the issue is what to do with her retirement pay. My plan is to buy either a lot for an apartment or a land for our retirement home. Most of the suggestions are businesses of different types. Do you have your own suggestion?
