@taxfreemike: Breaking News! Boeing eliminates their pension. Corporate America has steadily reduced #retirement pension benefits since the advent of the #401k People are living too long and corporations don't want the financial obligation. They prefer giving you a lump sum of cash through a 401k, placing all the risk on you, rather than them. The problem is you must prudently use that #money and successfully navigate market risk. Most people don't! If you want a pension did you know you can privately fund one? If you have a 401k, you can rollover some or all of it to an #annuity contract. Corporate pensions are basically annuities taken on your behalf. You can go directly to the insurance company yourself with you own money to fund a lifetime income plan. The privately funded pension-like annuity gives you a guaranteed income for life, no matter how long you live and no matter what happens in the stock market. Also you have control of the lump sum still and can leave money behind if you die too soon, creating #generationalwealth If you want to learn more about turning your 401k into a pension-like #retirementincome comment "income" below! #financialliteracy #safemoney #retirementplanning #compoundinterest #wealthymindset #indexedannuity #lifeinsurance
There's only 2 real ways to guarantee a retirement. Having kids, or investing on your own. These two things are complete red herrings. Ignore them and do it yourself.
2024-09-24 02:19:16
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