Should you pay your pension monthly?

On the other hand, opting for monthly payments ensures a steady income stream throughout retirement, reducing the risk that you’ll run out of money. It can also help spread your tax liability out over several years. A pension financial advisor can help you weigh the pros and cons of both options.

Do you need a pension financial advisor?

A pension financial advisor can help you weigh the pros and cons of both options. While a stream of payments usually makes sense for the average person, recipients who are ill or retiring early may want quicker access to their funds. An advisor can help you explore both options based on your specific circumstances.

Are pensions necessary for a good retirement?

Pensions are great, but not necessary for a good retirement. As long as you plan ahead, monitor your progress and take the necessary steps to ensure you stay on track, you can enjoy a comfortable retirement. Brian O'Connell June 6, 2024