How Much Is A Pension Worth?

Do you know how much a pension is worth? In this video, we discuss the value of a pension and how you can take advantage of it if you have one.

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Disclaimer: Since we do not know your specific situation, none of this information can serve as tax, legal, financial, insurance, or financial advice, and may be outdated or inaccurate. The information comes from sources believed to be reliable but cannot be guaranteed. This content is prepared for educational purposes only. If you need advice, please contact a qualified CPA, attorney, insurance agent, financial advisor, or the appropriate professional for the subject you would like help with. Peak Retirement Planning, Inc. is an Ohio based registered investment adviser and able to offer advisory services in Ohio and in other states where registered or exempt from registration.

[lindasensabaugh]

We retired in 2019 and yes a pension is a big deal. Our income is 140, 000/yr. $100, 000 comes from pension and 40k from SS. With a portfolio of over 2.3vmillon we feel secure. It is a shame when pensions and profit sharing are leaving the work force

[robertspence]

My pension is worth 1280.00 or so a month starting at 65. Earned it in the newspaper

[keithmachado-ppfv]

Unless there is a cost of living adjustment you can’t just take the monthly payment and multiply it out for 17 years and say it is worth $1, 000, 000 today. The $5000 per month you receive in year 17 is worth a lot less than $5000 today. A better way to assess the value would be how much you would need to pay today at age 65 to get a single life or joint life pension that pays $5000 per month. The answer is approximately $800k to $850k so that is the value today.

[karenk]

A pension is gold, no matter how small. It lasts for the rest of your life. That plus SSA is your safety net. If you have a paid off home, even better. If not, pay it off or get rid of it before you retire. You want no mortgage, no rent. What you earn beyond that is your rainy day fund and your quality of life.

[djcoolrule]

Finally someone preaches this truth. Thank you sir!

[dondenis]

Not all people get big pensions like that. I paid into the Teamsters pension for 16 years and my pension is $675 dollars a month.

[bruintoo]

I will be retiring at the end of the year from a local government agency (largest city in California) that pays around 72% of my regular income. It comes with 3% COLA per year. Health coverage is included in retirement until 65, then will get reimbursement of Medicare premiums at that point. Spouse is also included in health coverage and in case I die, spousal continuance is 50% of my pension. In addition, I was able to save just little over $800K in 457b to make up the gap between my pension and my income. A lot of so called financial "gurus" including Dave Ramsey always say cash in the lump sum of pension and invest it yourself. I'm shocked to hear this!

[beachbum]

Ok' I'm now 80 years of age and on a very fragmented income. (but I live in Perth Western Australia where things are very very different). Born (1943) and living and working in England for 30 years I get a part-British government age pension, I get a part-British Airways age pension, I also get a part-Australian government age pension which together with the required drawdown from my superannuation account (monies from the sale of an online business and you absolutely have to have an online business; or some sort of business to sell on retirement) given I have no debts and no mortgage allows me to live very happily on something between 50k and 55k year., you really don't need vast amounts of money to live a very mellow contented life. (it also helps if you're 94% hard-core introvert, Chuckels) ;)

[mitchbandalan]

I have military disability and a pension from my current employee. I wished I would have stayed 20 with the military. That would have made 3 income streams when I retire (excluding my 401K and IRAs).

[irishrover]

I ave a pension from the federal government and I get down on my knees and thank God. It is great. And I wasn't an SES

[busterbrown]

I'm one of the lucky ones that is a Teamster and will have a nice pension and401k. My wife will also have a nice pension and has a 403b

[Lawrencekingsley]

"To obtain financial freedom, one must be either a business owner, an investor, or both, generating passive income, particularly on a monthly basis." -- Robert Kiyosaki. I wasnt financial free until my 40’s and I’m still in my 40’s, bought my second house already, earn on a monthly through passive income and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing is a grand choice I made..

[miketracy]

As always having multiple sources of retirement income equals more security.
If you wait until age 70 for your SS, delay your pension until the same age, and have other investments to support the next 30 years, you will be in great shape.

[bobackerman]

While I appreciate you put a value on a $5k/month pension so i can then figure out what my $1800/month pension is worth, it would have been nice if you had shown why/how that $5k is worth a million dollars ...

[joelmadrid]

"PANAMA REL OCATION TOURS! WITH JACKIE 😊🙋👍❤👈"

[Sarmoon.]

I have a pension that is an annuity and will have a COLA at 61.

[bryantsherman]

100% disabled vets don't live to age 90. Most vets will be gone before age 80, if they make it even that long.

[chipott]

Would think the value is also dependent on inflation, unless there is an inflation rider of some type. The higher the inflation rate, the lower the value.

[giovannifunaro]

The average life span of a man in the USA is 76. So let's get real.

[dustinquinton]

Hopefully my pension won’t go away. If it does, the State of Oklahoma will go with it😂