Best Retirement Plan With A Pension

Рет қаралды 33,792

Күн бұрын

If you have a pension, how should you invest outside of that?
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Пікірлер: 39

@LiamOlivia-4 2 күн бұрын

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.

@VioletJessica- 2 күн бұрын

I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.

@LiamOlivia-4 2 күн бұрын

@@VioletJessica- That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well

@VioletJessica- 2 күн бұрын

@@LiamOlivia-4 My advisor is VICTORIA CARMEN SANTAELLA;

@VioletJessica- 2 күн бұрын

You can look her up online

@FlorentGulliver 2 күн бұрын

@@VioletJessica- The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees that drain your portfolio. Is this the case with yours too?

@ygbodybuilder3023 2 жыл бұрын

That's me😁 thanks for answering the comment

@brucesmith6868 2 жыл бұрын

Thanks Eric great breakdown.

@dustindodge5974 2 жыл бұрын

I've been maxing my Roth IRA and Roth TSP for years, looking forward to reaping the benefits

@July.4.1776 2 жыл бұрын

No pension here, but like yourself I am maxing out the 401k and 457 with the catch up.

@constanciacollene9585 2 жыл бұрын

Priscilla Dearmin -Turner is one of the best mentor/trader I have ever worked with in the past few years, she knows how best to deal with whatever market situation.

@Trentacus 2 жыл бұрын

This is helpful. I have a new job with a pension with the state as a public employee. I definitely don't want to rely on that solely as a means of support in my retirement.

@stevelopez372 3 ай бұрын

You can depending on your formula. However to increase pension payout at the end of your career, I suggest going up the career ladder. Besides if you have kids they kinda take up anything extra that you might put away. If my wife and I would have been DINKS we would have been millionaires at 55. Lol.

@July.4.1776 2 жыл бұрын

I ran the Monte Carlo simulation and come up with 82% chance of success using high inflation inputs and low annual returns.

@Steve-ry1ek 2 жыл бұрын

Great video.

@jnsa9454 Жыл бұрын

What advice do you have to public school educators with pensions along with 403bs, 457s? If you could create a video for us educators, that would be much appreciated 👍🏽

@DWilliam1 5 ай бұрын

This guy knows nothing about pensions. I’m about to retire with two pensions, one as a public school psychologist and one as a union official. You do not get 100% of your final salary. You get between 50%-60% of an FAS average. Mine will be around $88K and my union one will be around 15K. Many states do not tax public pensions. Load up early in your 403b, most teachers I know have over a million in that account. I wouldn’t put any money in a 457 but would probably do a Roth and buy real estate. I’m retiring at 59 with two homes, and enough money to take 3 cruises a month every month and I’m buying a Porsche. Best of luck.

@jnsa9454 5 ай бұрын

@@DWilliam1 thanks for sharing your journey and congrats on retirement life with solid financials! Good to know you've made it thru successfully.

@DWilliam1 5 ай бұрын

@@jnsa9454 Actually 9 more months to go. I know many who have done better and I’m sure you will do great.

@lowstringc Ай бұрын

@@DWilliam1- I find the “most teachers I know have 1M” to be pretty out of touch with the current majority of teachers in the US. You must work in a super rich area, as my final salary won’t be much more than your 60%…

@knightalumni 2 ай бұрын

Florida never gives a 3% COLA per year. In fact, we went 10 years with a total $2000 COLA in that entire 10 years. And they made us start funding our own pensions, so we actually lost money over that period.

@drew8979 Жыл бұрын

I’m buying additional years back in my pension six months at a time. I’m doing all this while maxing out my Roth IRA each year as well. What is your opinion on buying years back in pension’s?

@darrenreese3411 2 жыл бұрын

With my wife’s and mine pension, we’re showing a 100%. At what time do we go to preserving for grandly?

@Zorlig 2 жыл бұрын

Preserving? All money should be invested based on when the plan is to spend it, regardless of who that actually ends up being. If money won't be spent until the grandkids go to college or when they retire then invest it accordingly.

@wilma6235 2 жыл бұрын

I called about the pension from my first job and they say they can’t find me. I worked there 9 years and you were vested after 5 years. What can I do?

@toughfff712 3 ай бұрын

Keep researching, do you access you any old pay stubs. Was/is the pension managed by a third party, if so reach out to them.

@muffemod Жыл бұрын

I think the pension income was overestimated. Try again with half that amount.

@jacobkowski7705 Жыл бұрын

Yeah. I had the same question. How can a pension replace the last salary when he retires? If so, technically, he doesn’t have to save at all while he is working!!!!

@ButcherBird-FW190D Жыл бұрын

@@jacobkowski7705 Most pensions replace 30% to 50% of one's pre-retirement income. Of course this depends on a variety of factors, most notably how many years the person worked. There are a few, and I mean a few, plans that pay 50% or greater, mostly fire dept's. As to 100% replacement, I have heard of it, but never saw one.

@allenanderson3649 10 ай бұрын

Police and fire get higher amounts in Minnesota anyway ! Almost double other public employees

@jasonbennett499 3 ай бұрын

It's a 30 year projection, not 20 years into the plan or wherever you are currently sitting.

@jacobkowski7705 Жыл бұрын

Wow. I didn’t know firefighters get an annual pension income which is the same as the last salary when he retires. I envy them

@joedessenberger2048 Жыл бұрын

Every jurisdiction is different. Most are a percentage of the salary based on age and years of service with 40% of final average salary being on the low end and most going no higher than 75% if the person works 30+ years. A few cadillac systems go upwards of 90-100%, but are rare.

@kzalaska4804 5 ай бұрын

Most don't. After 22.5 years I'll be collecting 48% of the average of my highest three consecutive years. The Roth advice is great though, I have 68% of my retirement accounts in Roth and should be able to stay in the 12% tax bracket for the rest of my life.