Alternatives To Social Security That Will Provide Income in Retirement – GOBankingRates

December 20, 2021 by No Comments

Over the past few decades, most companies have moved away from traditional pension plans toward 401(k) plans and the like. However, if you began your work career a long time ago, or if you work for an old-line company that still maintains a pension, you may be in line for a lifetime of payments after you retire. If you work for the police department, fire department or any other public service job, such as a government job, you’re more likely to have access to a traditional pension. Some of these pensions can be quite lucrative. For example, if you served 20 years in the military, you’re likely in line for a pension worth as much as 2.5% of your highest 36 months of basic pay.

Important: The Biggest Problems Facing Social Security

Source: https://www.gobankingrates.com/retirement/planning/alternatives-to-social-security-that-will-provide-income-in-retirement/

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