Pension Plan Retirement Options

Share on facebook
Share on google
Share on twitter
Share on linkedin
Share on whatsapp
Share on pinterest
Share on email
A VPN is an essential component of IT security, whether you’re just starting a business or are already up and running. Most business interactions and transactions happen online and VPN
Fotilla Images
Fotilla Images

Jim Lorenzen, CFP®, AIF®

Choosing between pension options can be a difficult task.   Choosing an option that guarantees your spouse pension benefits after your death means extra security but also lower monthly benefits.

On the other hand, choosing a pension option that only pays through your lifetime can provide larger monthly payments, but requires a lump sum to protect your spouse if your spouse  outlives you.   So, what’s the best choice?  You need to get some numbers.

If you’d like see a calculation to help decide which pension option works best for your particular retirement needs,  this is the information you will need to conduct an analysis.

The input regarding your pension and plan retirement options information you’ll need to provide:

  • Your current age
  • Retirement age
  • Your health status and life expectancy
  • Spouse’s current age
  • Spouse’s health status and life expectancy
  • Single monthly pension amount at retirement
  • Joint monthly pension amount at retirement
  • Rate of return on your investments (be careful, many miscalculate and overestimate this because they fail to include all their financial assets)

I’ve put together a series of concept pages on Retirement Pension Decisions you might find helpful.  Just click on this link:  Retirement Pension Decisions Guide

If you need help putting an analysis together, you can schedule an introductory phone call with me.  A reminder:  You will need the above information for our call.

Jim


Jim Lorenzen, CFP®, AIF®

Jim Lorenzen is a CERTIFIED FINANCIAL PLANNER® professional and An Accredited Investment Fiduciary® serving private clients since 1991.   

Jim is Founding Principal of The Independent Financial Group, a  registered investment advisor with clients located across the U.S.. He is also licensed for insurance as an independent agent under California license 0C00742. The Independent Financial Group does not provide legal or tax advice and nothing contained herein should be construed as securities or investment advice, nor an opinion regarding the appropriateness of any investment to the individual reader. The general information provided should not be acted upon without obtaining specific legal, tax, and investment advice from an appropriate licensed professional.

————————————

Interested in becoming an IFG client?  Why play phone tag?  Schedule your 15-minute introductory phone call!

Jim Lorenzen, CFP®, AIF®

Jim Lorenzen is a CERTIFIED FINANCIAL PLANNER® professional and An Accredited Investment Fiduciary® in his 21st year of private practice as Founding Principal of The Independent Financial Group, a fee-based registered investment advisor with clients located in New York, Florida, and California. He is also licensed for insurance as an independent agent under California license 0C00742.  IFG helps specializes in crafting wealth design strategies around life goals by using a proven planning process coupled with a cost-conscious objective and non-conflicted risk management philosophy.

Opinions expressed are those of the author.  The Independent Financial Group does not provide legal or tax advice and nothing contained herein should be construed as securities or investment advice, nor an opinion regarding the appropriateness of any investment to the individual reader. The general information provided should not be acted upon without obtaining specific legal, tax, and investment advice from an appropriate licensed professional.

Jim's picture
Jim Lorenzen is a CERTIFIED FINANCIAL PLANNER® professional and An Accredited Investment Fiduciary® in his 21st year of private practice as Founding Principal of The Independent Financial Group, a fee-based registered investment advisor with clients located in New York, Florida, and California. He is also licensed for insurance as an independent agent under California license 0C00742.

Schedule Your
20-Minute “Right Fit” Introductory Call Now!

Recent Posts

Archives

Schedule Your 20-Minute
“Right Fit” Introductory Call Now!