A legitimate question that I frequently get is “How do pensions work?” In an almost pension-less world, it is understandable why people need more clarity on this subject. The short answer is a pension is a lifetime income stream. Social Security payments function like a pension, because you can never outlive the payments. If you work for a government entity or union, you probably already have a pension. Lucky you!
Most Americans have no pension type income guarantees in place other than their Social Security, and are having to create their own personal or private pensions to fill in that […]
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