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 174: Lessons Learned from the Silicon Valley Bank Collapse
Ep 173: The Incomplete Financial Plan
Ep 172: Top 10 Tax Questions for Retirees in 2023
Ep 171: 5 Beneficiary Mistakes - Are You Accidentally Spoiling Your Retirement Plan?
Ep 170: 2023 Retirement Preparedness Checklist (#6-10)
Ep 169: 2023 Retirement Preparedness Checklist (#1-5)
Ep 168: Back to Basics - Income Planning
Ep 167: SECURE Act 2.0 – Retirement Changes to Know (Part 2)
Ep 166: SECURE Act 2.0 - RMD & Roth Changes (Part 1)
Ep 165: Top 401(k) Mistakes to Avoid
Ep 164: Dividend-Only Retirement Plans
Ep 163: The Market Outlook for 2023
Ep 162: Will it Take a Miracle to Retire?
Ep 161: Making Smart Decisions During Major Life Events
Ep 160: Should You Follow the 60-40 Rule?
Ep 159: Is the Grass Really Greener on the Other Side?
Ep 158: The Retirement Marathon: Finishing the Race
Ep 157: Common Questions About Taxes in Retirement
Ep 156: What You Need to Know About Forced Retirement
Ep 155: Are Health Savings Accounts ‘Super Roths’?
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