Do You Need $1 Million+ To Retire If You Have A Pension?

How does a pension impact the amount of money you need to retire? In this episode of Joe Knows Retirement, Joe discusses the amount many retirees think they need to retire ($1 million or more), and then talks about how a pension might lower that number by quite a bit. He also talks about ways to save money in taxes and give your money purpose in retirement.

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Timestamps:
00:00 Intro
01:32 Share this video if it's helpful
02:07 How much do I need to retire?
03:31 The value of a $60,000 per year pension
05:03 Pension + social security
07:08 Pension + social security + $1 million+ saved
08:44 Tax planning
10:17 Retiring as a Midwestern Millionaire
11:32 Giving your money purpose

Disclaimer: Since we do not know your specific situation, none of this information can serve as tax, legal, insurance, or financial advice, and may be outdated or inaccurate. The information comes from sources believed to be reliable but cannot be guaranteed. This content is prepared for educational purposes only. If you need advice, please contact a qualified CPA, attorney, insurance agent, financial advisor, or the appropriate professional for the subject you would like help with. Peak Retirement Planning, Inc. is a Securities and Exchange Commission registered investment adviser and able to offer advisory services in Ohio and in other states where registered or exempt from registration.