Today’s blog is the fourth of five posts featuring videos on how you can prepare for retirement. If you are a Financial Engines customer (find out here), we can help you create your personal plan. If you don’t have access to Financial Engines as an employee benefit, you can still use our Social Security Planner to learn how to get more from Social Security.
As you begin planning your retirement, it’s important to understand how your money will come together to create your income in retirement. Having a pension can be very helpful but there are questions you’ll want to ask before you take your pension to make sure you make the best choices for your individual situation. If you choose to take your pension as a lump sum, making sure you invest it wisely – in a way that helps your money last a lifetime – can make a huge difference to your life in retirement.
Watch this video for a brief summary of the opportunities you have with your pension and what to consider once you receive the money.