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