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You’ve probably heard of a pension...
But do you know what it is?
A pension is a defined benefit retirement savings plan. It provides retirees with a steady and reliable monthly payment in retirement.
When you’re sixty-four, you’ll be close to retirement and you’ll need your pension to provide basic income security during retirement.
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When you know your retirement savings are taken care of, you probably feel like this:
Since you've been working 9 to 5.
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With a pension, you contribute a little bit each paycheck and your employer contributes a little bit each paycheck, so during your career, you’re saving for retirement like:
Even if you’re not as fabulous as Queen Bey, you’ve still gotta pay your bills and a pension can help you do that in retirement.
Women especially benefit from a pension, since their retirement income is only 59% that of men.
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On average, women who retire from public service live off a modest but stable $18,000 a year pension: http://cnnmon.ie/1CUTURz
This is how we all should feel come retirement day…
But if you don’t have any retirement savings, you might end up like this:
And after a lifetime of hard work, nobody wants to end up like this in retirement:
After all, everyone deserves to retire with dignity and enough money to get by... and maybe the occasional cheesecake.
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