Ep 37: State of the American Pension Plan

Is the pension becoming a thing of the past? More and more people are having to create income plans that don’t include a pension and it can present a different set of challenges. Today we’ll discuss the state of the American pension plan and what you need to know with and without one.

Apple PodcastsSpotifyGoogle PodcastsStitcheriHeartRadioTuneInAmazon MusicRSS

The Game Plan

For many decades, Americans have been able to rely on a company pension to provide retirement income, but how much longer will that be the case?

As more and more companies phase out an employee pension, retirees have to change their strategy and approach to income planning. Most people will need a larger nest egg and will have to supplement that lost income with other streams.

Today we’ll talk all about the pension and the planning that needs to be done for those fortunate to have one and others that aren’t. The good news is that you can build a private pension with proper planning that might even benefit you more than anything a company would provide.

Listen to the full episode or click on the timestamps below to skip around to specific topics.

The X’s & O’s

Check out the timestamps below to skip around to specific topics on the show.

[1:13] – How many Minnesota companies still offer a pension?

[2:05] – Lack of pensions impacts planning

[3:18] – Does pensions put you in a better position?

[4:40] – Buyout or lump sum?

[7:07] – Planning for inflation

[8:04] – Having a plan for the pension

[8:44] – Final thoughts on pensions

 

“If your company doesn’t offer the pension, we will help you. We can set up a private pension plan for you, which in some cases can be a lot better than any pension that a company can provide you.”

– Dale Tondryk

More To Explore

Ep 67: Are You A Risk Taker? How To See If Your Tolerance for Risk Matches Your Plan

Do you like to take risks? Or would you rather play it safe and steady? When it comes to the market risk can come with great reward, but it can also be damaging if our risk tolerance is out of balance with our plan. Most people don’t realize how much risk they are taking on and have a much lower tolerance than their portfolio reflects. 

Ep 66: Picking Sides in Important Financial Debates

Financial debates have existed for a long time and when we’re planning we may encounter quite a few. While there are various opinions out there, not everyone’s solution will fit your needs. Each situation is going to depend on your plan and goals.

Ep 65: Are These Retirement Statistics Encouraging or Disturbing?

We’ve gathered some updated retirement statistics from across the country. It’s time to find out if these are encouraging or disturbing findings if they’re reflective of the average client, and what you can do to improve your own retirement preparedness based on this information.

QUESTIONS FOR DALE?

MORE WAYS TO GET IN TOUCH

952-401-1671

dale@tondrykfinancial.com