The 5 Biggest Risks of the Monthly Pension

It’s no secret that I am a big fan of the monthly pension compared to the lump sum. Unlike, Dave Ramsey and probably every one of your co-workers, I think that most people should take the monthly pension when they retire. A steady stream of monthly income in retirement that isn’t impacted by the stock market, is hard to beat. Still, the monthly pension is … Continue reading The 5 Biggest Risks of the Monthly Pension

Planning on a Lump Sum Pension? May be Time to Up The Risk of Your 401(k)

Recently, a client of mine called because he is getting closer to retirement and feels like he needs to get more conservative in his 401(k). If you have ever read a finance book or listened to any financial “guru”, the investment advice is always the same; Invest more aggressively while you are younger and more conservative as you approach retirement. My client had heard this … Continue reading Planning on a Lump Sum Pension? May be Time to Up The Risk of Your 401(k)

Disagreeing with Dave Ramsey Regarding the Lump Sum Pension

A client recently told me that he was planning on taking the lump sum pension because he heard from Dave Ramsey this is the best option.  Are you kidding me?! You are making one of the biggest financial decisions of your life based on a four paragraph article by Dave Ramsey? I know the guy is THE financial guru, but he doesn’t know your personal … Continue reading Disagreeing with Dave Ramsey Regarding the Lump Sum Pension

The 5 Biggest Myths About Pensions

Everyday I get a new question regarding pensions. Almost all of these stem from a fellow co-worker who’s part-time gig is armchair financial advisor. Today, my client was shocked to hear from fellow automobile design engineer/lump sum expert, that he would only receive 45% of the lump sum, because the other 55% were eaten away by taxes. My clients co-worker wasn’t even close, and worse … Continue reading The 5 Biggest Myths About Pensions