It’s day five of The Retirement Reality’s 12 Retirement Tips of Christmas. If you missed any of the previous tips, be sure to click here.

Five Golden Rings – Over the years, many Americans have valued their pension as if it were gold. But just like everyone won’t be getting five golden rings this holiday season, many employers are doing away with traditional pension plans. Currently, less than 17 percent of employees will receive income from a traditional pension plan, dropping greatly from the 62 percent that received a pension over 20 years ago.  According to the Employee Benefit Research Institute (EBRI), in 1984, 24.2 million individuals had a traditional pension plan. By 2007, that number was 11 million. Therefore, Americans need to look for other retirement vehicles that generate guaranteed income, such as annuities, to support themselves in their final years. You can learn more here.

Posted in annuities boomers pensions preparedness Resources retirement saving
No Comments Yet Posted by admin