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If you’ve been in your utility job for years and still don’t understand how your pension works, you’re not alone. In this episode, Steve takes a listener question from Lisa. She’s been working for 15 years and asked a commonly misunderstood question: What’s the difference between a cash balance pension and a traditional pension?

Tune in as Steve breaks down the key differences and why it matters!

Here’s some of what we discuss in this episode:

📊 Traditional vs. cash balance pensions- what’s the difference?

💰 How a cash balance pension grows with guaranteed employer contributions and interest

🧠 Why your pension type should guide your 401k investment decisions

🛠️ Aligning your pension + 401k strategy

Get your copy of Power Up Your 401K: https://keap.page/ngt919/toolkit.html

Follow along on YouTube: https://www.youtube.com/channel/UCEE5ZkDedYTsKzkh2UxQ9Sg

Book your 401(k) Onboarding Meeting with Steve: https://calendly.com/steven-powerhouse-advisor/401-k-retirement-meeting-1-hour-clone?month=2024-12

Other ways to get in touch:

Phone: (775) 266-8867
Our website: https://powerhousefinancialadvisors.com/
Email: info@powerhousefa.com

LinkedIn: https://www.linkedin.com/company/powerhouse-financial-advisors/
Facebook: https://www.facebook.com/PowerhouseFinancialAdvisors

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Wondering if you're actually on track for retirement? That’s the question Alex, a utility worker with 22 years of service, asked, and it sparked this helpful breakdown. Whether you’re early in your career or closing in on retirement, knowing where you stand is key to your financial future. The truth is, it’s not just about your 401k balance, it’s about how everything works together.

Here’s some of what we discuss in this episode:

🧮 What a retirement readiness score measures

💼 The value of a cash balance pension

📉 Hidden pitfalls of target date funds for utility employees

🧠 Why guessing your future income needs won’t cut it

Get your copy of Power Up Your 401K: https://keap.page/ngt919/toolkit.html

Follow along on YouTube: https://www.youtube.com/channel/UCEE5ZkDedYTsKzkh2UxQ9Sg

Book your 401(k) Onboarding Meeting with Steve: https://calendly.com/steven-powerhouse-advisor/401-k-retirement-meeting-1-hour-clone?month=2024-12

Other ways to get in touch:

Phone: (775) 266-8867
Our website: https://powerhousefinancialadvisors.com/
Email: info@powerhousefa.com

LinkedIn: https://www.linkedin.com/company/powerhouse-financial-advisors/
Facebook: https://www.facebook.com/PowerhouseFinancialAdvisors

Send us a text

Ever wonder what other people talk about with their financial advisors? A new survey of nearly 400 experienced advisors reveals the biggest concerns, challenges, and financial goals their clients are facing today. From retirement planning and healthcare costs to working longer than expected, we’re breaking down the key takeaways and how they compare to what we see in our own client conversations.

Here’s some of what we discuss in this episode:

📊 Survey insights from 400+ advisors

💸 Outliving assets vs. chasing “your number”

🏥 Why healthcare is both overestimated and underestimated

🧓 Most people don’t work past 65 (even if they plan to)

👨‍👩‍👧 Supporting adult children: a hidden retirement risk

Fortune Magazine Article:

https://www.fa-mag.com/news/retirement-planning-survey-2024-80450.html

Get your copy of Power Up Your 401K: https://keap.page/ngt919/toolkit.html

Follow along on YouTube: https://www.youtube.com/channel/UCEE5ZkDedYTsKzkh2UxQ9Sg

Book your 401(k) Onboarding Meeting with Steve: https://calendly.com/steven-powerhouse-advisor/401-k-retirement-meeting-1-hour-clone?month=2024-12

Other ways to get in touch:

Phone: (775) 266-8867
Our website: https://powerhousefinancialadvisors.com/
Email: info@powerhousefa.com

LinkedIn: https://www.linkedin.com/company/powerhouse-financial-advisors/
Facebook: https://www.facebook.com/PowerhouseFinancialAdvisors