I Have an Old Pension, What Should I Do With It?


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In episode 155 of Financially Simple, Justin takes a look at Pensions.

RELATED BLOG: https://financiallysimple.com/income-life-strategy-10-manage-pension-fund-payments/

If you’ve been working for any length of time for a large company or government department, chances are you’ll have a pension fund that’s been put aside ready for retirement. But when it comes to receiving that money, what should you do with it? Justin goes over some of the options of receiving a Pension payout, and lists some Do’s and Don’ts.


01:14 - I Have an Old Pension, What Should I Do With It?

01:47 - What is a Pension?

02:50 - Who Offers Them?

03:21 - How Do They Work?

03:50 - Single-Life Option

04:13 - Joint & Survivor Option

05:03 - Period Certain Option

05:55 - Lump Sum Payment

07:14 - Fixed Annuity: Pros and Cons

10:02 - Lump Sum: Pros and Cons

12:06 - Do’s and Don’ts

14:54 - Wrap Up


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The Financially Simple podcast provides information, guidance, and support to Small Businesses in the United States. Host Justin Goodbread is a serial entrepreneur, CFP (Certified Financial Planner), CEPA (Certified Exit Planning Advisor), CVGA (Certified Value Growth Advisor), Investopedia Top 100 advisor, and business strategist with over 20 years of experience. Justin owns Heritage Investors LLC, a registered investment adviser with the State of Tennessee. Heritage Investors only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. This material is for general information only and is not intended to provide specific advice or recommendations for individuals. To determine what is appropriate for you, please consult a qualified professional.

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