Pension Retirement Planning: Things YOU SHOULD KNOW!

Many of you are retiring with a pension and today I give you three things to consider. I also give you a little bonus by discussing a bill that could be repealed and help you out in retirement!

We're an investing service that also helps you keep your dough straight. We'll manage your retirement investments while teaching you all about your money.

#retirement #retirementplanning #dohstr8
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[Beckylouis-cc]

As an lnvesting enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?

[TheJackCain-]

This is my fifth year after retirement. I’e been following the 4% rule thing I saw on a youTube channel, but this isn’t really how hard I expected things to be. After I cashed out a lump sum, I still have about $760k left, but at this rate, and with how the market is (we were putting money away in an index fund), I’m starting to get really worried.

[TaniaLato-kywo]

I deeply appreciate your commitment to enlightening your audience. We all aspire to attain financial security and enhance our quality of life. This goal can be realized through prudent investments, mindful spending habits, and meticulous financial planning. I am thankful for acquiring the understanding of the significance of diligently striving for financial independence from an early stage in life.

[takedown]

I never used to work over time. I just lived with my base pay. When I retired 4 years ago, I got a pension and due to my age and years in service, I got 100%. of my pay. It was easy to adjust because I never relied on overtime like other people I worked with. We get a cost of living every year, usually 3% and I paid into Social Security, which I can start drawing in two years when I turn 62. I think because I did not try to keep up with the Joneses help prepare me for retirement.

[barrymorton]

My wife works for a non-profit and has not paid SS. It's crazy that she could get spousal SS if she didn't work at all but is penalized because of working where is did.

[Retiredmco]

FIRST 🥇! Excellent advice! I retired 3 years ago from dept of corrections. Here's something else for law enforcement with a 457B and get their health and dental through their former employer. You can use money from 457B to pay health and dental insurance premiums up to $3K a year WITHOUT PAYING TAXES on that amount! Basically turning your 457B into a HSA! Been doing it and it's not well known. Frank from Tennessee.

[atleastmypalmsarewhite]

Future railroad pensioner, along with maxed out traditional 401k and a maxed Roth 401k! It's gonna pay off one day.

[bigtoeknee]

If someone never paid into SS why should they be entitled to it? Isn't SS already severely underfunded .

[Armchair-Investor]

You are very knowledgeable and mention things that many other YouTuber leave out. I’m impressed that you even mentioned the windfall provision.

[christopherchilton]

I'm a firefighter retiring in November. Thanks for touching on the topic. Amy future videos on public service worker dilemmas would be appreciated. Keep up the good work!

[mk]

Thank you for the length of your Video! So many of them are 20-40 minutes

[masonjones]

Retired with a full pension and a 457 since November. We only pay federal tax on our pension and we get to keep our full medical benefits till 65. Retirement is great.

[Raven]

There is another income option you didn't mention, working part-time jobs. Both my wife and I are retired with government pensions. We have traditional and roth iras but don't like dipping into them. We both take on part time jobs that we enjoy doing when we have surprise expenses.

[Trentacus]

This is good. I have an old 401k that I transferred into my IRA, a very small HSA, and maxing out my IRA now but my new job has a pension through the state.

[skibum]

Great advice. I'm lucky that I'm a retired firefighter but worked enough on the side to to have 30 years of substantial earnings so I'll get all of my SS benefits when I apply at 62. I hope they do eliminate the WEP because it will help out a bunch of my fellow first responders that take about a 50% hit on their SS.

[johnl]

Having a pension from public company, is a good thing in more ways then one.

[MyJeffrey]

I work for USPS & have ROTH TSP and a pension & SS .

[GKAllDay]

Brilliant explanation. Teachers need to hear this messaging.

[jfscotch]

Windfall Elimination Provision I believe it is

[London_Thomas]

FINALLY! Someone touches on this subject! A lot of content seems to believe that retiring with a pension is worry free.
I'd love to see Jazz Wealth expound more on this subject. I've even talked to Dustin about having JW manage the funds in my 457. Seeing that retirement is hopefully 24 months away, I'll probably be speaking to Eric about it too.
One thing though, why does everyone refer to pensions as living on a fixed income?? Having a salary is a fixed income as well!
Thanks for the vid.