Don't Disinherit your Spouse with your Pension Election

If you're lucky enough to have a pension, you're going to get a letter in the mail that if you retire at a certain age, you're going to get a certain amount of money. 

You get an “annuity” payment for the rest of your life. But if you make the wrong pension election, it could be devastating.

Here's what people don't know, if you elect to leave your spouse money, you will receive less money than your maximum amount. If your spouse passes away, you don't receive your maximum amount, you stay at the same amount. What's even worse, is that if you both pass away, you don't even know if that money is going to go to your family or not. 

Know that when you get that pension election package, those are not the only options you have. 

We can show you better options for your pension money where:

• You have access to your principal.

• You're not going to disinherit your spouse or your family.

• You’re going to be able to have as many beneficiaries as you want. 

• And you can control your risk level.

*Blog Disclosure: It's not the purpose of this blog post to provide tax, legal and/or financial advice and you should always seek counsel from your CPA, attorney, and/or advisors as these topics relate to your specific needs. This information is being presented in a very general way and it's for illustrative purposes only.