When you first get started in your career, it can seem like retirement is eons away. You are enjoying working in your desired field and love being able to support yourself with the weekly, bi-weekly or monthly checks that come in like clockwork. It’s a great setup and one that is easy to get acclimated to, but you must always stay alert. The passage of time happens so stealthily that one day you may look up and find that decades have passed and you are now on the precipice of retiring. When this happens, how will you support yourself? It’s a question that you need to think about now, as opposed to waiting until it is too late. Whether you are currently employed and are thinking about the future, or you are just entering the workforce and want to make the best decisions, read through a few reasons why you should seek out an employer that offers a pension plan.
You Need A Security Blanket
It is quite popular for some workers to invest a portion of their income into a retirement account of some sort. Once the employee has decided how much they would like deducted from each check, the money is taken out automatically. The situation is even sweeter if their employer has a matching program. This essentially means that the company will chip in the same percentage of funds as the worker up to a certain point. This may seem to be quite sufficient and can lull you to sleep if you’re not careful!
The truth is that retirement accounts can be very volatile. You may check your retirement fund one day and see a large amount, only to pop back in a day later and notice that a sizable portion of the sum you had saved up is gone. This up-and-down process may not seem like a big deal when you are early in your career. However, each time even a tiny portion of your retirement pie is eaten up by the market, your pockets pay the toll.
One of the best things about working for an employer that offers a pension is that you are no longer at the mercy of the whims surrounding traditional retirement accounts. Pension plans offer you security because they guarantee you’ll receive a certain amount upon retirement. What this ultimately means is you can plan out your budget with greater precision and accuracy because you’ll walk into retirement knowing exactly how much your pension is going to give you each month. It’s a great feeling because you’ll have a security blanket that is not subject to the ebbs and flows of the vast majority of investment accounts.
Keep Your Money In Your Pocket
Another great reason why pension plans are so fantastic is that they are not dependent on funds provided by the employee. As mentioned above, you may be very familiar with retirement accounts that can only start and continue based on whether or not you keep up with your contributions. The moment you stop pouring into the account, the matching percentage from your employer stops. You can imagine how difficult this would be during times when you are in a financial crisis. What if you run into a monetary emergency and have to use every bit of your resources to see your way out of it? Your retirement account could take a hit that is hard to recover from.
Pension plans are different because they usually don’t rely on any money from you, the employee. They are completely funded by your employer, meaning that regardless of what you endure in your personal financial life, you won’t have to worry about the pension plan dwindling away in the process.
Protect The Ones You Love
Although you likely dream about retirement and all of the fun adventures you’ll go on once work is no longer a priority, you never know what will happen. What if you become ill or are in a tragic accident? What then happens to the people you love who are dependent on your income for their survival? These are very real questions that you should definitely give considerable thought to.
Some pension plans come with a clause that makes them fully transferable. If you happen to meet an untimely fate, you can name the person or persons you deem to be the rightful heir to your pension. It’s a wonderful setup because if those closest to you are unfamiliar with the complexities of retirement accounts, you could unknowingly be adding more stress to the load of grief they are sure to bear after your departure. Pension plans are typically much easier to understand because the terms are cut-and-dried. You’ll be lightening their load and making it so much easier for them to celebrate your memory with fondness and love.
Make Your Job Search Count
Finding a job that offers benefits you can use both now and in the future is so important. Don’t let the years slip away without putting measures in place that can benefit you when your working days are long over. Your time, energy and efforts are critical to the lifeblood of a business and you deserve to be well compensated for what you put in as time marches on. Whether you are looking for your first employer or your next one, do it the right way so you can give yourself a pat on the back when retirement arrives. Find an employer offering a pension plan and submit your application. Follow up with the recruiter and put your best foot forward so you can hopefully obtain employment with a company offering a pension plan as soon as possible.
When you first get started in your career, it can seem like retirement is eons away. You are enjoying working in your desired field and love being able to support yourself with the weekly, bi-weekly or monthly checks that come in like clockwork. It’s a great setup and one that is easy to get acclimated to, but you must always stay alert. The passage of time happens so stealthily that one day you may look up and find that decades have passed and you are now on the precipice of retiring. When this happens, how will you support yourself? It’s a question that you need to think about now, as opposed to waiting until it is too late. Whether you are currently employed and are thinking about the future, or you are just entering the workforce and want to make the best decisions, read through a few reasons why you should seek out an employer that offers a pension plan.
You Need A Security Blanket
It is quite popular for some workers to invest a portion of their income into a retirement account of some sort. Once the employee has decided how much they would like deducted from each check, the money is taken out automatically. The situation is even sweeter if their employer has a matching program. This essentially means that the company will chip in the same percentage of funds as the worker up to a certain point. This may seem to be quite sufficient and can lull you to sleep if you’re not careful!
The truth is that retirement accounts can be very volatile. You may check your retirement fund one day and see a large amount, only to pop back in a day later and notice that a sizable portion of the sum you had saved up is gone. This up-and-down process may not seem like a big deal when you are early in your career. However, each time even a tiny portion of your retirement pie is eaten up by the market, your pockets pay the toll.
One of the best things about working for an employer that offers a pension is that you are no longer at the mercy of the whims surrounding traditional retirement accounts. Pension plans offer you security because they guarantee you’ll receive a certain amount upon retirement. What this ultimately means is you can plan out your budget with greater precision and accuracy because you’ll walk into retirement knowing exactly how much your pension is going to give you each month. It’s a great feeling because you’ll have a security blanket that is not subject to the ebbs and flows of the vast majority of investment accounts.
Keep Your Money In Your Pocket
Another great reason why pension plans are so fantastic is that they are not dependent on funds provided by the employee. As mentioned above, you may be very familiar with retirement accounts that can only start and continue based on whether or not you keep up with your contributions. The moment you stop pouring into the account, the matching percentage from your employer stops. You can imagine how difficult this would be during times when you are in a financial crisis. What if you run into a monetary emergency and have to use every bit of your resources to see your way out of it? Your retirement account could take a hit that is hard to recover from.
Pension plans are different because they usually don’t rely on any money from you, the employee. They are completely funded by your employer, meaning that regardless of what you endure in your personal financial life, you won’t have to worry about the pension plan dwindling away in the process.
Protect The Ones You Love
Although you likely dream about retirement and all of the fun adventures you’ll go on once work is no longer a priority, you never know what will happen. What if you become ill or are in a tragic accident? What then happens to the people you love who are dependent on your income for their survival? These are very real questions that you should definitely give considerable thought to.
Some pension plans come with a clause that makes them fully transferable. If you happen to meet an untimely fate, you can name the person or persons you deem to be the rightful heir to your pension. It’s a wonderful setup because if those closest to you are unfamiliar with the complexities of retirement accounts, you could unknowingly be adding more stress to the load of grief they are sure to bear after your departure. Pension plans are typically much easier to understand because the terms are cut-and-dried. You’ll be lightening their load and making it so much easier for them to celebrate your memory with fondness and love.
Make Your Job Search Count
Finding a job that offers benefits you can use both now and in the future is so important. Don’t let the years slip away without putting measures in place that can benefit you when your working days are long over. Your time, energy and efforts are critical to the lifeblood of a business and you deserve to be well compensated for what you put in as time marches on. Whether you are looking for your first employer or your next one, do it the right way so you can give yourself a pat on the back when retirement arrives. Find an employer offering a pension plan and submit your application. Follow up with the recruiter and put your best foot forward so you can hopefully obtain employment with a company offering a pension plan as soon as possible.
){kind=link}