“I’m not worried about retirement” | Monthly income and pension of a former civil servant after 38 years of service, described as top 10%
An independent exercise, not a statement by the video creator or verification of every claim in the video.
How much of the budget can a pension and lessons cover when bookings fall?
Suppose a hypothetical household receives 3,000,000 won in monthly pension payments and spends 3,400,000 won on essentials. If lessons bring in 1,800,000 won, studio overhead is 900,000 won and costs that vary with lessons are 300,000 won, the side business nets 600,000 won. Combined with the pension, that leaves 200,000 won after essentials. If lesson revenue and variable costs each halve while overhead stays fixed, the side business loses 150,000 won. The household then has a monthly shortfall of 550,000 won.
Check for yourself
- Which expenses would remain if bookings fell further, and when could they be reduced?
- If household expenses stay the same, how much net side income is needed each month to cover essentials alongside the pension?
Limits of application
This hypothetical budget is separate from the guest’s finances. It assumes a constant pension payment and excludes taxes, pension suspension, initial studio costs and the opportunity cost of the space.
- What to look for
- See how performing and teaching experience before retirement translated into paid work afterward.
- Why it matters
- Record pension payments and net side income separately, then calculate how much of the household budget they cover when bookings fall.
Timeline
8 segmentsBae says his pension and additional work bring in about 6,500,000 to 7,000,000 won a month, and says some of what remains goes toward family and travel. For a household budget, count business or teaching income after operating costs. The Government Employees Pension Service explains that certain levels of business or employment income can trigger a partial suspension of pension payments.