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.
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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 88: The Retirement Lifestyle

We’re taking a quick break from the Xs and Os of retirement finances today. Instead, we’re going to talk about some other important pieces of forming your retirement lifestyle. Join us as we discuss staying busy, the significance of social connections after you’ve stopped working, and maintaining your physical and mental health throughout retirement.

May 18, 2023

Ep 87: Social Security Myths

Have you ever wondered if the Social Security system will run out of money before you retire? Or if claiming benefits as soon as you’re eligible is the best decision for your financial future? In this episode, we’ll be debunking common myths about Social Security and answering the questions you’ve been curious about.

May 4, 2023

Ep 86: Don’t Get Lost In Retirement

Getting lost while driving in the car or hiking in the woods is kind of like getting lost in retirement planning. It can be tough to find your way without the right guidance and tools. But fear not! In today’s episode, we’re going to explore the most common mistakes people make in retirement planning and share some insightful advice to help you stay on track.

April 20, 2023

QUESTIONS FOR DALE?

MORE WAYS TO GET IN TOUCH

952-401-1671

dale@tondrykfinancial.com

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