How to Plan for Retirement With a Pension | Don't Make this Mistake!
Unlock the secrets to a successful retirement with our latest video, where we dive deep into pension payout options and their significant impact on your financial future. We start with a detailed explanation of the pension math, highlighting the potential risks of choosing the wrong pension option. Discover our step-by-step framework to help you select the most suitable pension payout option, utilizing your pension estimate and employer-provided tools for accurate calculations.
Learn about the crucial Required Portfolio Income Formula and how it integrates your pension, Social Security, and annuities into your retirement plan. We provide an easy-to-understand example, breaking down the numbers for a clearer picture. Explore the four main pension payout options: Single Life Payout, Joint and Survivor Annuity, Term Certain Payout, and Lump Sum options.
Get professional insights into making informed decisions that affect your retirement savings, investment risks, and overall financial planning. We emphasize the importance of conservative estimations and running multiple pension estimates for different scenarios.
Ideal for government employees with 457, 403b plans, or anyone navigating pension decisions, this video is a must-watch for anyone looking to optimize their retirement planning. Visit our website for more financial planning resources, and don't forget to schedule your free consultation. Your perfect retirement plan is just a video away!
On our channel we also cover other topics such as pay as you go pension system, pension lump sum payout taxes and pension vs lump sum payout.
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00:36 Pension Math - How to Determine Your Required Portfolio Income 01:41 How much more in saved assets you will need if you are WRONG about your Pension Payout option 03:08 Understanding the 4 common pension payout options 03:28 Single Life Annuity 03:45 Joint and Survivor Annuity 04:05 Term certain 04:43 Lump Sum Pension Payout 06:02 2 Tips When Estimating Your Pension Payout Amount 07:43 Conclusion
Disclaimer: Please consult with your own tax, legal and financial advisors for personalized advice.
