Two and a half years ago, when I retired from the police department, I found myself in what I saw as “fat-city;” I had a monthly pension for life, and a considerable chunk of change, my own personal, departmentally sponsored, separate retirement account. Well as I said two and a half years later I sadly have to admit, I was wrong. I guess it’s only fair to state early on that no, I did not blow all the money that I had worked and saved for. As a matter of fact when I retired I continued with my efforts to diversify my investments and placed the majority of my portfolio in long term, committed investments.
Now for me that meant my funds would be tied up for between 5 to 7 years. The interest returns on these long term investments are much higher than the prevailing 4 to 5% return, averaging around 10.5%. Just something to keep in the back of your head, BUT, the other thing that you need to know, is if for some reason you need to get at your funds before the agreed upon time commitment is up, it can be very time consuming and costly. I really wanted to share this information because; before I retired no one really took the time to point some of the many pitfalls that face us all in retirement.
Since I’m already sharing, I want to share with you some of my thoughts about working off-duty and why we do it. You see I firmly believe that most officers work off duty for one of four reasons. Three of them make a lot more sense than the fourth, which makes no sense at all. So here we go with my short list and some comments on each.
1. They don’t make enough money to live the way they want to. Now this is an interesting point because not only do police officers find themselves in this position, but lots of others, working in a number of other fields, find themselves in the same position. But when they, the police officers or the others looking for addition income, go out and find that other job, they make a little bit of money for themselves but in most cases they make a whole lot of money for someone else. 오피
2. They are saving up for some special event, maybe a vacation, a holiday gift, a new car, whatever that special thing might be; and why not they deserve it. Now in this example they may be accomplishing what they want, but once again, while accomplishing this goal, they are making more money for someone else than they are making for themselves.
3. They are saving for their retirement. Now I really like this one. It shows initiative, and that they are taking an active role in diversifying and creating an optional stream of income for their financial future. For me when I was on active duty, working as a police officer, this was my primary reason for working off-duty. I think this is the best possible reason for an officer or anyone else for that matter to have an extra job. But even with the motivation being right on point; more money is being made for someone else than it is for you.