One of the most common fears, is being able to work long enough before retirement. We're witnessing a dramatic shift of age in retirement from 55 to 65 - and to what I'm hearing most commonly now, 70.
Trust me, there's a lot to unpack around the right time for retirement and this growing trend of employers making it more difficult for you to reach your retirement dreams.
I just met with a client who turned 66 and we discovered that the way the company structured his retirement, they had built a plan to push him out.
Can Your Company Push You Out Earlier Than You Want?
Andrew had a pension.
(Meaning he had two options to either take a guaranteed monthly income or a lump sum payout)
So, should Andrew take the pay out or the lifetime income?
The projection for Andrew was shocking. Every month his plan on his pension was lower. Which is opposite to how pensions work.
His monthly payouts were dropping.
Why? His company set the age for retirement at 65. BUT NO ONE TOLD HIM THAT!!!! His benefits were depleting every month while he was working to plan for a better retirement!
It Can And, Sadly, Is Happening To People Who Have Worked Too Hard To Reach Their Dreams
If you don't know how your company has packaged your benefits, you need to look. Or let our team show you how.
A lot of companies are slowly finding a way to push individuals who are close to retirement out. It lives in the fine print and can easily go unnoticed unless you know to check.
AND NOW YOU DO.
Sit down with my team and we will investigate the details around your retirement over a free consultation.