Jul 28, 2026 · 16 min · 7 segments
If you have a pension, you're in a unique position that most retirees will never experience. In this video, Joe breaks down four powerful ways your pension can protect your retirement and why your…
And as we start the video here today, I definitely wanna touch on the fact that this pension, it is a big, big, big protector, and this is a great thing for your retirement.
And so the first thing that your pension's gonna protect you of is they'll have a less chance to run out of money.
We know that the biggest concern for those in or near retirement is running out of money, and I'm sure you're watching this, and that may still be a fear of yours is running out of money.
Maybe you haven't ran your numbers to see what your analysis is or what your forecast would be of how much you can spend in retirement.
You know, what is the likelihood of you running out of money? Many people haven't done that.
It's one of the things when we first onboard a client, that's one of the first things we look at is where are they now and where are they wanting to go, and are we on track to get there? And on- ultimately, what it typically looks like is that they can actually typically spend way more than what they thought.
They thought they would have to pinch pennies and be frugal in retirement, and we're sitting there and saying, "There is no chance you spend all this money, so we need to figure out what we're gonna do with it." And so know that if you're in this situation, your concern may not be running out of money with this pension.
It may be more so what I call running out of life, and this is not being able to do what you want, when you want, with who you want.
You want to live this retirement exactly how you have planned and dreamed of doing it.
And again, you have that ability to do so because of the sacrifice, because of the hard work, and so we don't wanna regret anything moving on through retirement.
So I hope that you take this one to heart to know just really rely on that pension to be able to get you to where you want.
Now, this is something you need to understand, what's your pension amount, how much do you have saved, how much do you need to spend.
Understand all the details before you go out there and say, "I watched Joe Knows Retirement and that guy says, says I can go spend my money." [laughs] Yes, for most of our clients, most people watching, we would say that is true, but we don't know your specific situation, and you need to make sure you're doing it the right way.
Make sure you have the right software in place to make sure you don't miss anything.
And the other reason why this is such a big benefit is 'cause what we call the three-legged stool, and this is where you can have your pension as we're talking.
But also, many of our clients get Social Security as well due to the, the elimination of the windfall elimination provision.
So they're gonna have two sources of guaranteed income, potentially three if both spouses were pension workers, and then also they're gonna have their investments to withdraw from.
And so if you're gonna exhaust all of those sources, that's gonna be hard to do is ultimately what we see.
And as we start the video here today, I definitely wanna touch on the fact that this pension, it is a big, big, big protector, and this is a great thing for your retirement.
And so the first thing that your pension's gonna protect you of is they'll have a less chance to run out of money.
We know that the biggest concern for those in or near retirement is running out of money, and I'm sure you're watching this, and that may still be a fear of yours is running out of money.
Maybe you haven't ran your numbers to see what your analysis is or what your forecast would be of how much you can spend in retirement.
You know, what is the likelihood of you running out of money? Many people haven't done that.
It's one of the things when we first onboard a client, that's one of the first things we look at is where are they now and where are they wanting to go, and are we on track to get there? And on- ultimately, what it typically looks like is that they can actually typically spend way more than what they thought.
They thought they would have to pinch pennies and be frugal in retirement, and we're sitting there and saying, "There is no chance you spend all this money, so we need to figure out what we're gonna do with it." And so know that if you're in this situation, your concern may not be running out of money with this pension.
It may be more so what I call running out of life, and this is not being able to do what you want, when you want, with who you want.
You want to live this retirement exactly how you have planned and dreamed of doing it.
And again, you have that ability to do so because of the sacrifice, because of the hard work, and so we don't wanna regret anything moving on through retirement.
So I hope that you take this one to heart to know just really rely on that pension to be able to get you to where you want.
Now, this is something you need to understand, what's your pension amount, how much do you have saved, how much do you need to spend.
Understand all the details before you go out there and say, "I watched Joe Knows Retirement and that guy says, says I can go spend my money." [laughs] Yes, for most of our clients, most people watching, we would say that is true, but we don't know your specific situation, and you need to make sure you're doing it the right way.
Make sure you have the right software in place to make sure you don't miss anything.
And the other reason why this is such a big benefit is 'cause what we call the three-legged stool, and this is where you can have your pension as we're talking.
But also, many of our clients get Social Security as well due to the, the elimination of the windfall elimination provision.
So they're gonna have two sources of guaranteed income, potentially three if both spouses were pension workers, and then also they're gonna have their investments to withdraw from.
And so if you're gonna exhaust all of those sources, that's gonna be hard to do is ultimately what we see.
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