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 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?
Ep 34: How to Avoid Getting Lost in the Financial World
Ep 33: Coronavirus Update - CARES Act and Taxes
Ep 32: Preparing for the Stages Leading Up to Retirement
Ep 31: Coronavirus Market Update
Ep 30: What’s Your Desire To Retire?
Ep 29: Considering Your Emotions When Making Financial Decisions
Ep 28: How To Set Realistic Financial & Retirement Goals
Ep 27: Understanding the Pros & Cons of Roth Conversions
Ep 26: Traits Your Advisor Should Have
Ep 25: Will Retirement Age Continue to Rise?
Ep 24: Managing Cash & Debt in Retirement
Ep 23: Beware of Bias in Financial Media
Ep 22: Are These Excuses Keeping Your From Retirement?
Ep 21: The Ins and Outs of Mutual Funds
Ep 20: 5 Biggest Social Security Misunderstandings
Ep 19: Are You Making These Critical Estate Planning Errors?
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