Thanks for watching! Pensions can be very niche and it can be hard to find answers to your questions! If you have a question, drop it below and either we can help you out or one of your fellow peers may also chime in! :)
The avg. American is having a tough time, I know I am not alone. There are others in same position as me. By certain statistics: 22% of americans have no retirement savings. 64% are worried that they will not have money in latter years while 47% of adults who are not yet retired think they have to work part-time in retirement. How can I best grow the 100k I have saved seperately outside retirement access which of course had depleted over the years?
I agree with the reply above. I also think you should think about steps you can take to start. Start somewhere. Anything is better than being frozen even.
I have a great federal pension, Wife does also,no debt, health insurance ( am also on medicare part A & B), zero bills, subsidized at the same rate as when employed, and will take SS at FRA, not touching, ( don't need to) TSP/IRA except for roth conversions.
I’m worried about retirement planning and I want to ensure a comfortable future. I’ve worked hard my entire life and I want to enjoy the fruits of my labor without financial stress. I’m really concerned about whether I’ve saved enough and invested wisely.
Great take on pension life. Ours doesn't have a COLA. We're waiting on SS maybe until I'm 70 (my wife will still collect at 62) as it does have a COLA and it will be the bedrock of our retirement plans. As such we will spend a little more of OUR money early on and forgo SS until later. As the pension loses value over time to inflation, we will still have assets that grow and although smaller the pension and SS will cover our needs until the end. -Just my 2 cents.
That's the way to do it! What other investment will get you a guaranteed 8% return and COLA and partial tax-free income? For real, does anyone know? Asking for a friend
Thanks for watching and for your input! Sounds like you have done well planning! The key is to have those assets on the side - and just be sure you account for the "what if" if someone passes early since you will lose some SS and possible some pension.
@@rayzerot Our thoughts as well. I've heard of this delaying strategy as "old age insurance". We'll still have our own funds but will rely on them a lot less in our older years as the "no-go" years will probably demand less.
@@Jazzwealth Absolutely. No plan is fool proof. We will continually be evaluating it over the years. These are broad strokes of what seems best right now. Thanks again for the video.
We had invested money through a financial advisor for nearly 30 years. The market had its ups and downs, but in the long run it did very well for us. With my pension, social security, and investments we can live comfortably. We are now able to fully enjoy our hobbies, travel, family, and making new acquaintances.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
Who is the professional who is advising you, if you could perhaps tell us? As a novice investing in stocks without the correct direction of a professional, I have lost a lot of money.
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire without any investment. Retirement becomes truly fulfilling when you possess two essential elements: financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement. .
Cynthia Alexandra Depken is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
Good discussion. I've been retired for 13 years. My pension (non-government) does not have a COLA benift. Between our SS and pension it covers virtually all of our expenses, and we have very ample retirement savings also. It has 75% survivor benefit. I'm currently using my RMDs for gifting within the family. It makes little sense to me to have them wait for us to die to get their inheritance; I'd rather give them funds when they need and can be more effective, so it will make more of a difference than it will later down the line for them.
Retiring in 26 Work/ +21 Vacation/ 67 Calendar Days with a 70% Pension at Age 62. Social Security is Coordinated with my CalPers. I'll deplete my 403b before I file for Social Security... Possible as late as 2027 when I file for Medicare. I'll also have my Roth for Future Needs. The CalPers Statutory COLA is 2% starting in the Second Calendar Year, Adjusting in May... With an 80% Purchasing Power Guarantee. Disclaimer: I am my Union Local's Retirement Guru.
At what point is delaying taking it for a larger payment worth it? Ex I retire at 58.5 and take my monthly pension at 59 and get about $1830/mo or $297K lump. If I retire at 58.5 and take the pension at 65 and get about $2750/mo, or $398K lump. I shouldn't need the money right away, but like everyone I want the best use of the benefit.
I took the lump sum, mostly because I do not want the forced income every year as I have other assets to live on. I also want to ensure my spouse and heirs are taken care of. I will invest it conservatively but if I live into my 90s I would have been better off taking the annuity. Will I care at 90? I am guessing not.
I had initially planned to retire at 62, work part-time, and save money, but the impact of high prices on various goods and services has significantly disrupted my retirement plan. I'm worried about whether those who experienced the 2008 financial crisis had it easier than I currently am. The volatility of the stock market is a concern as my income has decreased, and I fear that I won't be able to contribute as much as before, potentially jeopardizing my retirement savings.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family...
I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second daughter. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks.
@@AlilatTiamiyu Quitting may not be the best approach if you ask me. This is where an AI comes into the picture. I barely have time to trade myself as my job swallows up most of my time. *MARGARET MOLLI ALVEY* , a licensed fiduciary whom has made me over 5 figures in profit in less than seven months, handles my investments. I could leave you a lead if you need help.
Retiring next year at 59 with a large teachers pension that will be $8K a month with a partial COLA(1/2 inflation) and will be leaving the wife 50% if I go first. It will allow me to retire before 62 without having to touch my 403b and 401K…unless I want to. I’ll most likely be taking SS early($2700)which will be a nice boost for inflation. The pension is backed by the NYS constitution. Own my retirement place outright. Can’t wait.
Thanks for watching! Pensions can be very niche and it can be hard to find answers to your questions! If you have a question, drop it below and either we can help you out or one of your fellow peers may also chime in! :)
The avg. American is having a tough time, I know I am not alone. There are others in same position as me. By certain statistics: 22% of americans have no retirement savings. 64% are worried that they will not have money in latter years while 47% of adults who are not yet retired think they have to work part-time in retirement. How can I best grow the 100k I have saved seperately outside retirement access which of course had depleted over the years?
Think abt actions you’re taking that might be harming you such as carrying ovr credit card debt each month
I agree with the reply above. I also think you should think about steps you can take to start. Start somewhere. Anything is better than being frozen even.
In my opinion, create a budget including income and expenses, do this with a financial advisor.
Plan with a pro advsor for a successful retirement.i work with an advsor and generated over 1 5 0 %
In 11 mnths with guidance.
I have a great federal pension, Wife does also,no debt, health insurance ( am also on medicare part A & B), zero bills, subsidized at the same rate as when employed, and will take SS at FRA, not touching, ( don't need to) TSP/IRA except for roth conversions.
I’m worried about retirement planning and I want to ensure a comfortable future. I’ve worked hard my entire life and I want to enjoy the fruits of my labor without financial stress. I’m really concerned about whether I’ve saved enough and invested wisely.
Yes I have. But I don’t know who exactly to trust to provide the right advices and guidance for me.
Thanks Eric great info.
Thank you, Bruce!
Pension is a great Pillar in retierment, like soc sec, retierment savings and equity. The more you have the better.😊
Thanks for watching and great points!
Great take on pension life. Ours doesn't have a COLA. We're waiting on SS maybe until I'm 70 (my wife will still collect at 62) as it does have a COLA and it will be the bedrock of our retirement plans. As such we will spend a little more of OUR money early on and forgo SS until later. As the pension loses value over time to inflation, we will still have assets that grow and although smaller the pension and SS will cover our needs until the end. -Just my 2 cents.
That's the way to do it! What other investment will get you a guaranteed 8% return and COLA and partial tax-free income? For real, does anyone know? Asking for a friend
Thanks for watching and for your input! Sounds like you have done well planning! The key is to have those assets on the side - and just be sure you account for the "what if" if someone passes early since you will lose some SS and possible some pension.
@@rayzerot Our thoughts as well. I've heard of this delaying strategy as "old age insurance". We'll still have our own funds but will rely on them a lot less in our older years as the "no-go" years will probably demand less.
@@Jazzwealth Absolutely. No plan is fool proof. We will continually be evaluating it over the years. These are broad strokes of what seems best right now. Thanks again for the video.
We had invested money through a financial advisor for nearly 30 years. The market had its ups and downs, but in the long run it did very well for us. With my pension, social security, and investments we can live comfortably. We are now able to fully enjoy our hobbies, travel, family, and making new acquaintances.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
Who is the professional who is advising you, if you could perhaps tell us? As a novice investing in stocks without the correct direction of a professional, I have lost a lot of money.
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire without any investment. Retirement becomes truly fulfilling when you possess two essential elements: financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement. .
Cynthia Alexandra Depken is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
Cynthia Alexandra Depken .She is well known; you ought to look at her work.
ERIC, I was quite glad to see you show the affects of the pensioner passing and how it would affect their spouse.
Good discussion. I've been retired for 13 years. My pension (non-government) does not have a COLA benift. Between our SS and pension it covers virtually all of our expenses, and we have very ample retirement savings also. It has 75% survivor benefit. I'm currently using my RMDs for gifting within the family. It makes little sense to me to have them wait for us to die to get their inheritance; I'd rather give them funds when they need and can be more effective, so it will make more of a difference than it will later down the line for them.
Always learn something from you Eric. Thank you
Thank you! I appreciate that and your feedback on my videos lately!
Eric you are using an article from 2012 🤔🤔 the PBGC has been funded by congress recently.
Retiring in 26 Work/ +21 Vacation/ 67 Calendar Days with a 70% Pension at Age 62. Social Security is Coordinated with my CalPers. I'll deplete my 403b before I file for Social Security... Possible as late as 2027 when I file for Medicare. I'll also have my Roth for Future Needs. The CalPers Statutory COLA is 2% starting in the Second Calendar Year, Adjusting in May... With an 80% Purchasing Power Guarantee. Disclaimer: I am my Union Local's Retirement Guru.
Good luck, friend. It sounds like you’ve done your homework. I’m a year into CALSTRS. It’s been a rough transition. May you all find inner peace.
We miss the closing beat Its like a piece of us is missing when it's not on. I would assume Dustin is moving.
I agree. I miss it greatly. What is going on? Where is Dustin?
At what point is delaying taking it for a larger payment worth it? Ex I retire at 58.5 and take my monthly pension at 59 and get about $1830/mo or $297K lump. If I retire at 58.5 and take the pension at 65 and get about $2750/mo, or $398K lump. I shouldn't need the money right away, but like everyone I want the best use of the benefit.
I work for the Railroad and have a great pension, and we have a cola and spouse benefit..and it's privately run so the company can't touch it.
Article from 2012. Has anything changed since that article was printed?
Yes! Congress has funded the PBGC with a large infusion. It is now fully funded.
Kimberly Clark bought an annuity (50%/50%) between 2 insurance companies to cover some pensions. No cola.
I took the lump sum, mostly because I do not want the forced income every year as I have other assets to live on. I also want to ensure my spouse and heirs are taken care of. I will invest it conservatively but if I live into my 90s I would have been better off taking the annuity. Will I care at 90? I am guessing not.
I had initially planned to retire at 62, work part-time, and save money, but the impact of high prices on various goods and services has significantly disrupted my retirement plan. I'm worried about whether those who experienced the 2008 financial crisis had it easier than I currently am. The volatility of the stock market is a concern as my income has decreased, and I fear that I won't be able to contribute as much as before, potentially jeopardizing my retirement savings.
Hey, where is Dustin? Where is the closing beat?
We'll be back LIVE soon! Dustin is in the middle of a pretty big move. The Closing Beat will resume as scheduled soon :)
Private equity investments are creeping into public sector pensions. From what I can gather, these are risky and should not be in pensions.
Missing stock market wrap up
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family...
I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second daughter. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks.
@@AlilatTiamiyu Quitting may not be the best approach if you ask me. This is where an AI comes into the picture. I barely have time to trade myself as my job swallows up most of my time. *MARGARET MOLLI ALVEY* , a licensed fiduciary whom has made me over 5 figures in profit in less than seven months, handles my investments. I could leave you a lead if you need help.
@@LiamOlivia-4 Oh please I’d love that. Thanks!..
@@AlilatTiamiyu *MARGARET MOLLI ALVEY*
Lookup with her name on the webpage.
Retiring next year at 59 with a large teachers pension that will be $8K a month with a partial COLA(1/2 inflation) and will be leaving the wife 50% if I go first. It will allow me to retire before 62 without having to touch my 403b and 401K…unless I want to. I’ll most likely be taking SS early($2700)which will be a nice boost for inflation. The pension is backed by the NYS constitution. Own my retirement place outright. Can’t wait.
When is that other guy coming back from vacation? Miss him!