Calculate amount to be received based on years paid

[captainspoke]

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I know two professors who just turned 65, and are shocked to find out that it is difficult to find continued employment. It is too late for investing, the can only 1. Reduce spending and 2. increase income, 3. Possibly downsize.
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A teacher who retired the year before I did found out pretty late that our school was not going to keep him on, doing hours as a part timer. He did, and is doing, okay--found other work--but it was a surprise.

(Actually, the school botched it, IMO. They put out the jyugyo-wari -- at one of the meetings that this person didn't go to -- that made it perfectly obvious. But nobody wanted to be the bearer of bad news. Lesson: be careful with your assumptions, and/or don't blow off meetings that you're supposed to be going to.)

[Bubblegun]

The problem is people deciding too late to plan for their retirement is not an issue exclusive to any income class, or visa status.

I know two professors who just turned 65, and are shocked to find out that it is difficult to find continued employment. It is too late for investing, the can only 1. Reduce spending and 2. increase income, 3. Possibly downsize.

Another, has zero nenkin. An older PR, had her husband convince her that nenkin was a Ponzi scheme. They are in a tight bind now.

Japan`s solution to older immigrants, or those with dependents who earn too little to support their families will probably be non-renewal of visas. There is already a large problem with health tourism among visa-holder dependents. That is why Japan is pushing insurance for visitors.

Shocking really.! The JP gov knew there was a pension ticking time bomb decades ago, and they still clung to the idea of "joining". They really need to change that system and basically deduct it from every single 100 yen earned, minus the tax free exemption limits. But it is clear that the IDECO/NISA/and the my number system will be combined, and made compulsory, on top of any sales tax increases.
My son came home from school yesterday and told me they had a lesson on finances but it was more about investing, rather than, loans, financial traps, miss selling. Over simplified it. But he did tell me it talked about putting 10% away of your earnings, Warren Buffet, and the Richest man in Babylon, which my son had already read.So if he didn't listen to his stupid dad, hopefully he got it from the video at school. The lessons seem more like an afterthought. It might have been better to also talk about brand loyalty and dumping that.LOL