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?
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Mastering Retirement Cash Flow: Understanding Income
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Counterintuitive Advice: Why You Should NOT Invest In A 401(k)
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Mastering Retirement Cash Flow: Understanding Changing Expenses (Part 1)
Ep 185: Top Money Mistakes In Retirement (Part 2)
Ep 184: Top Money Mistakes In Retirement (Part 1)
Ep 183: Key Finance Decisions During Major Life Events Like Marriage, Divorce, Job Loss & More
Ep 182: Unsure, Confident or Certain: Retirement Planning Next Steps
Ep 181: Should You Relocate In Retirement?
Ep 180: Crash Course: The Psychology of Investing in the Wake of Historic Market Crashes
Ep 179: A Comprehensive Dismantling Of 2023’s Top Social Security Myths (Part 2)
Ep 178: A Comprehensive Dismantling Of 2023’s Top Social Security Myths (Part 1)
Ep 177: Fore Your Retirement: What Golf Teaches Us About Financial Planning
Ep 176: Back to the Basics - Retirement Saving Fundamentals
Ep 175: Moving Your Retirement Goalpost - Is It Worth The Risk?
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