Page 51 - Ready Set Retire

Ready. Set. Retire!

lifetime guaranteed income. And both can reduce the cost of
retirement significantly. In fact, pensions and Social Security
are nothing more than annuities.

Annuiities have their own section. Ready Step 8:Double Your
Income with “Last Things First™”- deals with the power of
annuities in a retirement plan. We will deal with pensions here.

Have Your Cake and Eat It Too

Pensions, like Social Security, provide a guaranteed income for
as long as you and/or your spouse are alive. This is the key
factor, regular, steady and replenishable lifetime income. The
longer you live the more money you get. Think of the power
of that statement. “The longer you live, the more you have.”
Ponder it. Let it roll around in your brain for a bit. The longer
you live, the more money you have. This is magic, and it’s way
more powerful than a lump sum.

Often people will ask me if they should keep their pension or
take a lump sum. Without giving advice, especially since I know
nothing about you, I can say, with confidence, that almost
always it’s better to take the income.

Here’s a quick test. In section seven we are going to be learning
about something known as the “4% Rule.” You may have
heard of it. It’s a thing. If you don’t believe me, Google it. You
will get close 50 million hits. It basically says if you have money

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