While pensions used to be the standard retirement benefit offered by companies, that is becoming less and less common. On today’s episode of the podcast, Phil talks about what options you have with a pension, why you might still need to save for retirement outside of the pension, and what to look out for.
Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-77-status-of-the-american-pension/
Watch the video podcast: https://youtu.be/QxOntOo2jig
What we discuss on this episode:
0:48 - Michigan is known for still having a lot of pension plans.
2:31 - There’s more pressure on self-saving for retirement.
3:35 - If someone has a pension, do they have an advantage in retirement?
6:01 - Should you take a lump sum or monthly payment?
9:43 - How has COVID changed company loyalty?
11:38 - How do you address inflation and taxes?
Ep 54: Do You Need a Trust?
Ep 53: This One is On The House
Ep 52: Are These Financial Rules Legit?
Ep 51: Simple Mistakes That Could Ruin Retirement
Ep 50: The Financial Risks to Living Longer
Ep 49: Building Your Financial House
Ep 48: Financial Planning Following the Loss of a Spouse
Ep 47: Classic Pre-Retiree Mistakes to Avoid
Ep 46: Survival Guide - Preparing for the Next Market Crash
Ep 45: Investing Like a Genius
Ep 44: Do You Say One Thing Then Do Another?
Ep 43: 4 Financial Pre-Retirement Milestones
Ep 42: Traditional IRA vs. Roth IRA
Ep 41: Should You Follow Dave Ramsey’s Advice?
Ep 40: Critical Retirement Planning Mistakes
Ep 39: Financial Terms You Should Know During A Pandemic
Ep 38: Playing the Financial Crossword Puzzle
Ep 37: Best Intentions But Bad Advice?
Ep 36: Financial Truths You Can Depend On
Ep 35: Should You Take Money Out of Retirement Accounts While It's Penalty-Free?
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