Timothy Sumer

What are pensions vs 401ks – What is a pension vs 401k? 1-800-566-1002 . What are the best types of pensions vs best type of 401ks and learn how you can avoid the most common mistakes that individuals have made when looking into a pension vs 401k. The 401k Vs A Traditional Pension Plan - Which Is Best For You? The American Dream traditionally involved getting a job with a company for 40 years, building up a big pension and then retiring to enjoy your golden years on that pension. Sadly, this notion of the American Dream has become a fantasy for most Americans over the last 20 years. Although retiring and living comfortably is still an option, the 401k plan has surpassed the pension plan as the retirement vehicle of choice. Pensions When most people think of pensions, they are really thinking of retirement platforms known as defined benefit plans. These plans offer a guaranteed payout amount when one retires. The amount is determined by the years you work, amount co...

What are pensions vs 401ks - What is a pension vs 401k? 1-800-566-1002 What are the best types of pension vs 401k plans and learn how you can avoid the most common mistakes that individuals have made when looking to use a pension vs 401k for retirement. Pension Plan A pension plan is a retirement savings plan that provides participants with a defined benefit for life after retirement. These types of plans are typically offered by government and union jobs, as they can be quite expensive to administer. One of the benefits of a pension plan It can provide a predictable and less stressful financial transition from working to retirement. However, not everyone has access to a traditional pension plan through their employer. For those individuals, there are options for creating a personal pension plan for retirement investments. A 401(k) plan A qualified retirement plan that allows employees to save for their future by contributing a portion of their wages to an individua...

Pension vs 401k – What is a Pension vs 401k? 1-800-566-1002 . What are the best types of differences between a pension and a 401k and learn how you can avoid the most common mistakes that individuals have made when trying to leverage pension vs 401k plans for retirement. Difference Between a Pension vs 401k The difference between a pension and 401k plan is based on the amount of control the retiree is looking for. Pensions are defined benefit plans and 401Ks are defined contribution plans. 401K plans are employer sponsored, which means you sign up for the plan through your employer and your account is handled through them. You are typically offered a few choice plans on how you will invest your money, which does take some of the control out of your investments, but some people like how this simplifies the process for them. The biggest advantage of one of these plans is that many employers will offer you a company match up to a certain percentage. So, for instance, if y...