Tag: Income Stability

How to Build Your Own Pension: A Guide for Modern Retirees (Ep. 5)

How to Build Your Own Pension: A Guide for Modern Retirees (Ep. 5)

Pensions may seem like a thing of the past, but you can still create your own secure retirement income.

How can you ensure a stable income in retirement without relying on traditional pensions? What strategies can help you build a reliable financial future?

In this episode, Brendon Murphy discusses the decline of traditional pensions and how individuals can build their own retirement income using modern financial tools. He explains the role of fixed index annuities and other strategies to create a personal pension plan.

Brendon discusses: 

  • The Decline of Traditional Pensions: Why company pensions have become rare and the shift to 401(k) and 403(b) plans
  • Building a Personal Pension: How to use fixed index annuities with guaranteed lifetime income to create a stable retirement income
  • Tax Considerations: The tax implications of rolling over 401(k) funds into annuities and the benefits of using Roth accounts
  • Starting Early vs. Late: Strategies for both early and late starters in building a personal pension
  • Real-Life Examples: Stories of clients who successfully transitioned from company pensions to personal retirement plans
  • And more!

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