Should I take state pension job?
Scenario #1: Civil Service job pays $108K, no step increases EVER again as its the highest step. Only raises are cost of living each year not guarenteed (1-2%). Will need to work for 20 years to collect pension which is 35% of 3 highest years average. This is NY tier 6 if you are familiar, it kind of sucks. I would retire at 63. The pension would be around 45-50K in 20 years, which will definitely not keep up with inflation. The boss is known to be unkind.
Scenario #2: Keep doing the same job as self employed, bringing in anywhere from $120-$170K, putting employee/ employer contribution into a solo 401k, and trying to max it out. Less job security, and worried about aging and health but more freedom, no boss.
What to do?