🔥 FIRE FIGHTER FINANCIAL SURVIVAL GUIDE 2025 🔥

Why Every Chicago Firefighter Should Own Real Estate — Before It’s Too Late

A Free Wealth-Building Guide for CFD Firefighters Worried About Pension Stability

Prepared for:
Chicago Fire Department Active & Retired Members
By:
Alec Mancheski — Chicago Real Estate Advisor

INTRODUCTION

As a Chicago firefighter, you protect millions of people every year. But not enough people are talking about who is protecting your retirement.

The truth is sobering:

Chicago’s Firefighter Pension is One of the Most Financially Stressed Public Pensions in the Country.

• Current funded status: roughly 20–25% funded

• Ideal funded status: 80–90%

• Projected liabilities continue to rise

• Investment returns are not keeping pace with payouts

• The average new hire is far less likely to receive a full, inflation-protected benefit 25–35 years from now

The math just isn’t adding up.
If you’re a younger firefighter (or even mid-career), relying on your pension alone is financially dangerous.

This guide will show you how Chicago firefighters can build their own “private pension” through strategic real estate investing — creating guaranteed monthly income and long-term security that no city budget, political decision, or pension board can take away.

CHAPTER 1: THE PENSION PROBLEM CFD MEMBERS CAN’T IGNORE

1. The Funding Gap Is Too Big

The Firemen’s Annuity and Benefit Fund of Chicago (FABF) has struggled for decades. While reforms have helped slightly, the gap is still massive.

The City of Chicago now faces enormous annual pension contributions. But tax revenue alone cannot keep up with long-term liabilities. As more retirees collect benefits and fewer active members pay in, the imbalance grows.

2. Younger Firefighters Are at the Highest Risk

If you were hired after 2011:

• You’re in Tier 2 or Tier 3 benefit structures

• You have higher retirement ages

• You have lower cost-of-living adjustments

• You are more exposed to future benefit cuts or restructuring

3. Inflation Is Quietly Eating Your Retirement

Even if the pension stays intact, a 1.5%–3% COLA increase isn’t keeping up with real inflation.
Your paycheck may technically arrive, but its spending power could be significantly lower.

CHAPTER 2: WHY REAL ESTATE IS THE #1 RETIREMENT PLAN FOR CHICAGO FIREFIGHTERS

Chicago firefighters have distinct advantages that make them ideal real estate investors:

1. Your Schedule Creates Opportunity

24/48 schedules and Kelly days give you more flexibility to manage properties or renovations.

2. Overtime Boosts Buying Power

Banks count OT and supplemental income, meaning you can qualify for better loans.

3. First Responders Prefer Stability — Real Estate Provides It

Homes don’t evaporate like pensions can.
Rent checks arrive whether the market is up or down.

4. Chicago Is a Cash-Flow-Friendly Market

Neighborhoods like:

• Jefferson Park

• Portage Park

• Norwood Park

• Mount Greenwood

• Garfield Ridge

• Beverly

• Clearing

…all offer multi-family properties that can generate steady monthly income and build long-term equity.

CHAPTER 3: HOW TO BUILD A “PRIVATE PENSION” WITH JUST 3 PROPERTIES

Here’s how many firefighters structure retirement using real estate:

Property 1: House Hack (Year 1–2)

Buy a 2–4 flat with VA or FHA (0–3.5% down).
Live in one unit, rent the others.

Typical numbers:

• Monthly mortgage: $3,100

• Rental income: $3,200–$4,200

• You live for nearly free while building equity.

Property 2: Duplex or Townhome (Year 3–5)

Move out of the first property and convert it fully to a rental.

You now own:

• Asset #1: Cash flow $700–$1,200/mo

• Asset #2: Cash flow $500–$1,000/mo

Property 3: Single-Family Rental or Section 8 Unit (Year 6–10)

This property becomes pure retirement income.
Section 8 in Chicago is extremely stable and pays on time every time.

TOTAL INCOME PROJECTION (10–15 Years)

With three well-selected properties:

• Monthly income: $2,500–$4,000+

• Annual income: $30,000–$48,000+

• Long-term equity growth: $700K–$1.5M+

That is a private pension you control — not one dependent on legislation.

CHAPTER 4: HOW FIREFIGHTERS CAN BUY WITH LITTLE OR NO MONEY DOWN

1. VA Loan (0% down)

If you are a veteran — this is the best loan in America.

Benefits:

• $0 down

• No PMI

• Lower rates

• Can be used for 2–4 unit properties

2. FHA Loan (3.5% down)

Perfect for your first multi-unit investment.
Minimum credit score requirements are easier.

3. Conventional Loans (5%–20% down)

Great for second + third properties.

4. Grants, Credits, and Down Payment Assistance

You may qualify for:

• IDHA grants

• Employer-sponsored down payment programs

• Neighborhood stabilization programs

Want to schedule some showings before making a decision?

Fill out the form below or text/call me at 773.861.5115 and I will schedule us some showings.